FASB Codification Guide-2

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Unformatted text preview: world use eXtensible Business Reporting Language (XBRL) to electronically tag their business data for a variety of internal and external reporting purposes. An XBRL element is a code that is used to tag individual items of numeric or textual data. An XBRL taxonomy is a collection of specific XBRL elements along with their definitions, characteristics, and interrelationships. An XBRL instance document is an electronic file containing a specific set of data that have been tagged with XBRL elements from one or more XBRL taxonomies. The U.S. GAAP Financial Reporting Taxonomy (UGT) is a widely used XBRL taxonomy whose elements are aligned with both the financial reporting requirements of U.S. GAAP and common reporting practices. You can use the System to identify XBRL elements from the ―development‖ version of the UGT that are linked to a specific Codification Subtopic. You can also use the System to identify the elements that are linked to a specific Codification paragraph or glossary term. You can use the System to identify the Codification paragraphs and/or glossary terms to which a specific XBRL element from the development UGT is linked. Lesson 16: Working with XBRL Elements 163 Look Now Go to the landing page for Section 310-10-75-5. Scroll down to the listing for the XBRL element “Allowance for Doubtful Accounts Receivable.” Observe the paragraphs referenced by the element. REINFORCE YOUR LEARNING Question Q1: With regard to the U.S. GAAP Financial Reporting Taxonomy (UGT), how does the development version differ from the annual releases that the SEC has approved for use by SEC registrants? Exercises E1: List the standard labels of the XBRL elements that are linked to Subtopic 605-45. Include elements that are linked to the Subtopic’s FASB guidance as well as elements that are linked to the Subtopic’s SEC guidance. E2: List the standard labels of the XBRL elements that are linked to Codification paragraph 320-10-35-1. Include elements that are linked to the paragraph as a whole as well as elements...
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This note was uploaded on 03/27/2014 for the course ECON 12586 taught by Professor Yorambarzel during the Fall '09 term at University of Washington.

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