Friday, December 5, 2014

Understanding Report Frames

By now, you are all using the simplest form of our Fundamental Accounting Concept Validation.  The current validation is our first serious foray into validating that the filings are valid from a U S GAAP perspective.  This takes into account not only the XBRL tagging, but also the true U S GAAP guidelines (XBRL notwithstanding).

The next revision of our software digs deeper into the organization and intent of the financial statements.  In order to do this, we are using a notion called Report Frames.  A Report Frame is a code that indicates meta-data about the filing.  This metadata includes for example:
  • The industry or activity
  • If the Balance Sheet is Classified or Unclassified
  • If the Income Statement is Single- or Multi-step
  • Much more!
As we move forward, it is imperative that our customers understand how the Report Frame codes interact with their filing, and the validation of their filings.  To that end, we encourage you to gain insight into Report Frames, and how those codes interact with our validation.  Therefore, the Summary Information About Conformance With Fundamental Accounting Concept Relations document is a must read!

1 comment:

  1. This is great and I would like to congratulate you but this is not enough to have great success in your business. As if you don't understand how your business finances are doing, you can easily lose control of it all and go bankrupt in the worst cases cenario.pengantar akuntansi

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