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Chapter 9: XBRL Taxonomy

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CHAPTER 9: XBRL TAXONOMY

Objectives

The objectives are

• Explain the concept of XBRL taxonomy

• Import XBRL taxonomy

• Create an XBRL File from the Financial Statement

Introduction

eXtensible Business Reporting Language (XBRL) is a global financial reporting

initiative started by many Enterprise Resource Planning (ERP) software

companies and international accounting organizations. The goal of XBRL is to

provide a standard for uniform reporting of financial information for banks,investors, and government authorities.

Business reporting may include the following:

• Financial statements

• Financial information

• Non-financial information

• Regulatory filings such as annual and quarterly financial statements

XBRL consists of a:

• Core language of XML elements and attributes used in documentinstances

• Language that helps define new elements and taxonomies ofelements referred to in document instances

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Financials II in Microsoft Dynamics® AX 2009

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XBRL Taxonomy

XBRL is one of a family of XML languages that is becoming a standard way to

communicate information among businesses and on the Internet.

The following definitions are from the XBRL Web site (www.xbrl.org):

• An XBRL Instance document is a business report, such as afinancial statement; prepared to the XBRL specification. The

meaning of the values in the instance document is explained by the

taxonomy. An instance document may be useless unless the

taxonomy for which it is prepared is known.

• The XBRL Schema is the core low-level components of XBRL. Theschema is the physical XML Schema Definition (XSD) and

Document Type Definitions (DTD) files which express how instance

documents and taxonomies are to be built.

• The XBRL Specification explains what XBRL is, how to buildXBRL instance documents and XBRL taxonomies. The XBRLSpecification explains XBRL in technical terms and is intended for a

technical audience.

An XBRL Taxonomy is a vocabulary or dictionary created by a group or

organization that is compliant with the XBRL Specification, to exchange

business information.

Overview

XBRL, instead of treating financial information as a block of text, as in a

standard Internet page, provides an identifying tag for each individual item ofdata. For example, company net profit has its own unique tag. The taxonomies

define the specific tags for each item of data such as net profit.

You can use the XBRL feature in Microsoft Dynamics® AX 2009 to:

• Import taxonomies

• Convert taxonomies into row definitions

• Map the Chart of Accounts

• Generate the XBRL financial statement

You only need to enter information one time, and can export it for use in:

• HTML documents

• Government filings

• Credit reports

• Loan documents

• Other formats

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The XBRL feature includes the following:

• The XBRL taxonomy manager: A tool that enables you to importXBRL taxonomies located on the Internet, at www.xbrl.org, or on

the hard disk.

• XBRL mapping facilities: Facilities that enable mapping betweentaxonomy elements and combinations between ledger accounts -

dimensions.

• XBRL report: A reporting facility that uses the financial statementengine to generate instance documents (files that have a *.XML

extension and the appropriate format) according to XBRL

specifications.

Test Your Knowledge

1. What does XBRL mean?

Import XBRL Taxonomy

This section describes how to import the XBRL taxonomy. As soon as the import

is complete, map the lines to the Chart of Accounts. The US_GAAP_01 is

already included with the Microsoft Dynamics AX 2009 demo database.

However if you can access the Internet, you can import another XBRL

taxonomy.

Follow these steps to import XBRL taxonomy.

1. Click General ledger, click Setup, click Posting, and then click

XBRL taxonomy.2. Press CTRL+N to create a new record.

3. Enter a name in the Taxonomy ID field and a description in theDescription field.

4. Click the Import XBRL taxonomy button to import any neededtaxonomy from http://www.xbrl.org or from another source.

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During import:

• The tool examines the current system language and goes through allappropriate labels for this language in the taxonomy.

• If a label for the current system language exists, the name of the

element is assigned the label value.

• By default, if no label exists, the element name receives an Englishlabel value.

Procedure: Enter XBRL Taxonomy Details

The Taxonomy details form contains:

• All elements from the taxonomy, ordered by alphabet.

• Elements that have a name and an ID, which is specified between the braces.

• The element's name, which is an actual label from the taxonomyimported.

Follow these steps to enter the taxonomy details.

1. From the XBRL taxonomy form, click the Details button.

2. Look for the necessary taxonomy elements.

3. Click the Transfer button to transfer taxonomy elements to the rowstructures. Refer to the Financial Statement lesson to learn more

about row structures.

Create an XBRL File from the Financial StatementTo create financial statements with an XBRL output type, you must complete the

following tasks:

• Create a row definition.

• Transfer the details to the new row definition.

• Print the row definition.

Procedure: Transfer the Details to a Row Definition

Follow these steps to transfer the details to a row definition.

1. Click General ledger, click Setup, click Posting, and then clickXBRL taxonomy.

2. Select a taxonomy in the Taxonomy ID field, and then click theDetails button.

3. In the Details pane, select a taxonomy detail, and then click theTransfer button.

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4. Select a row definition by clicking the Row definition arrow.

5. Click OK .

6. Click Close to close the Infolog.

Test Your Knowledge

1. Put the following steps required to create an income statement structure based on an existing XBRL taxonomy in order:

Step:

_____: Print the row definition.

_____: Create a new row definition.

_____: Transfer the details to the new row definition.

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Lab 9.1 - Import XBRL Taxonomy

Scenario

Ken, the Controller at Contoso, has decided to create an XBRL financial

statement to be able to easily share financial information with subsidiaries,

investors, and other stakeholders. Ken must create an XBRL Income statement

by transferring the XBRL Income statement from the US_GAAP_001 taxonomy

to the XBRL Taxonomy form.

Use these details:

Field Value

Row definition XBRL_New_I

Name New XBRL IS

Focus Account

Challenge Yourself!

Help Ken create a report structure based on the taxonomy. After you create the

Income statement, print it to your screen to view the definition.

Need a Little Help?

1. Create a new row definition.

2. Transfer the details to the new row definition.

3. Print the definition.

Step by Step

Follow these steps to create a new row definition.

1. Click General ledger, click Setup, click Financial statement, andthen click Row definition.

2. Press CTRL+N to create a new row definition.

3. In the Row definition field, type XBRL_New_IS.

4. In the Name field, type New XBRL IS.

5. Click the Focus field arrow, and then click ACC, Ledger account.

6. Close the form.

Follow these steps to transfer the details to the new row definition.

1. Click General ledger, click Setup, click Posting, and then clickXBRL taxonomy.

2. In the Taxonomy ID field, click US_GAAP_001.

3. Click the Details button.

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4. In the Details pane, click Income Statement (usfr-pte_IncomeExpensesAbstract).

5. Click the Transfer button.

6. Click the Row definition arrow, and then click XBRL_New_IS.

7. Click OK .

8. Click Close to close the Infolog.9. Close the forms.

Follow these steps to print the row definition.

1. Click General ledger, click Setup, click Financial statement, andthen click Row definition.

2. In the Row definition field, click XBRL_New_IS.

3. Click the Print button.

4. Click the Print arrow, and then click Definition.

5. Click OK .

6. Click Close to close the Infolog.

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Summary

XBRL enables companies to use a common taxonomy to define their financial

statement terminology. XBRL taxonomies are basically dictionaries that define

specific financial terms (such as net profit or cash) in a common way. In Canada,

an XBRL taxonomy exists that complies with Canadian Generally AcceptedAccounting Principles (GAAP), although several other national jurisdictions

have their own financial reporting taxonomy.

The Microsoft Dynamics AX 2009 XBRL feature enables companies to:

• Easily import and export XBRL taxonomies.

• Use XBRL tags to pull together information for many differentreporting purposes without using the manual data entry processes.

Users of financial information, such as investors, analysts,

regulators, and financial institutions, can receive, find, compare, and

analyze XBRL data much faster and efficiently.

• Simplify the analysis of corporate financial data, improve itsaccuracy, and eliminate financial statement ambiguity; XBRL better

positions information for consumers to make informed decisions

about a particular company's financial health.

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Test Your Knowledge

Test your knowledge with the following questions.

1. What does XBRL do in Microsoft Dynamics AX 2009? (Select all that

apply)

( ) Import taxonomies

( ) Convert taxonomies into row definitions

( ) Map the Chart of Accounts

( ) Generate the XBRL financial statement

2. Which of the following outputs can you generate using XBRL? (Select allthat apply)

( ) HTML document

( ) Government filing

( ) Credit reports

( ) Loan documents

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Quick Interaction: Lessons Learned

Take a moment and write down three key points you have learned from this

chapter

1.

2.

3.

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Solutions

XBRL Taxonomy

1. What does XBRL mean?

MODEL ANSWER:

eXtensible Business Reporting Language

Create an XBRL File from the Financial Statement

1. Put the following steps required to create an income statement structure based on an existing XBRL taxonomy in order:

Step:

3 : Print the row definition.

1 : Create a new row definition.

2 : Transfer the details to the new row definition.

Test Your Knowledge

1. What does XBRL do in Microsoft Dynamics AX 2009? (Select all thatapply)

(√) Import taxonomies

(√) Convert taxonomies into row definitions

(√) Map the Chart of Accounts

(√) Generate the XBRL financial statement

2. Which of the following outputs can you generate using XBRL? (Select allthat apply)

(√) HTML document

(√) Government filing

(√) Credit reports

(√

) Loan documents

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Documents

Ax2009 Enus Finii 09