With IFRS
IFRSs and XBRL
Both IFRSs and XBRL are intended to standardise financial reporting in order to promote transparency and to improve the quality and comparability of business information, therefore the two form a perfect partnership.
1. Snapshot about IFRS and XBRL
2. IFRS Taxonomy 2011:
The IFRS Taxonomy 2011 was developed by the IFRS Foundation XBRL Team and was issued on 25 March 2011.
The IFRS Taxonomy is the XBRL (eXtensible Business Reporting Language) representation of the IFRSs, including International Accounting Standards (IASs), Interpretations, and the IFRS for SMEs (Small and Medium-sized Entities), as issued by the IASB. It contains XBRL tags for IFRS disclosure requirements.
3. IFRS Taxonomy 2011 Guide:
The IFRS Taxonomy 2011 Guide is a technical, supporting guide for users of the IFRS Taxonomy. This 2011 version supersedes version released in 2010. The guide addresses both the financial reporting content and the XBRL framework of the IFRS Taxonomy. It is intended for use by those who are already familiar with and who are able to apply XBRL with IFRSs using the IFRS Taxonomy.
The IFRS Taxonomy 2011 Guide includes:
- an overview of the architecture of the IFRS Taxonomy
- guidance for preparers and issuers of financial statements when creating instance documents and IFRS Taxonomy extensions
- XBRL Fundamentals – an introduction to the basics of XBRL.
- a glossary of commonly-used XBRL terminology
Click here to download The IFRS Taxonomy 2011 Guide [PDF, 953 KB]
3. IFRS Taxonomy Illustrated:
Physically, the IFRS Taxonomy is composed of a set of electronic XBRL files and subsequently, it can be difficult for those not familiar with XBRL to understand the structure of the taxonomy without the use of software. In order to facilitate understanding of the Taxonomy and its structure, and ultimately to assist with the preparation of IFRS financial reports in XBRL format, the IFRS Foundation has published The IFRS Taxonomy Illustrated.
The IFRS Taxonomy Illustrated does not require knowledge of XBRL because it presents the structure of the IFRS Taxonomy in a simplified, visual format. The IFRS Taxonomy Illustrated sets out the hierarchy of the taxonomy and the elements within it (which represent IFRS disclosure requirements), the required format of these elements (such as text, monetary values, etc), and the IFRSs and IASs that these elements relate to.
For the IFRS Taxonomy 2011, The IFRS Taxonomy Illustrated is available:
ITI organised according to financial statements – Download PDF
ITI organised by IFRSs – Download PDF
ITI for the IFRS for SMEs – Download PDF
s