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 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!
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