article 2 - financial information that than what the core...

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Alysse Johnson IFRS Taxonomy Interim Release for Common-Practice Concepts The IFRS foundation completed the first part of its project to address the requests by regulators and preparers for extensions to the full OFRS XBRL Taxonomy. The IFRS XBRL Taxonomy helps electronically ‘tag’ information in the financial statements with identification tags called ‘concepts’. Although this was helpful the preparers often needed to use more detailed
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Unformatted text preview: financial information that than what the core IFRS concepts portrayed. To prevent those using this filing from creating their own extensions to the IFRS taxonomy, the IFRS foundation created an ‘extension taxonomy’ by reviewing the common practice. This common practice taxonomy includes concepts for commonly used entries, such as different types of expenses....
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This note was uploaded on 11/02/2011 for the course ACC 101 taught by Professor Johnson during the Spring '11 term at Cardinal Stritch.

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