On 19 February, the IASC Foundation published for public comment an exposure draft of the IFRS Taxonomy 2010. The proposed taxonomy is consistent with IFRSs and the IFRS for Small and Medium-sized Entities (SMEs).

Many years ago when I worked for the (then) largest computer company on the planet, I learned a phrase that probably helped them become the largest computer company on the planet: “Never confuse sell with install”.

Well well well… Some sense at last, with the FAF becoming responsible for maintenance of the US GAAP taxonomy. From the very beginning of the process, the FAF (Financial Accounting Foundation and parent of the FASB, the Financial Accounting Standards Board) was expected to be involved in the development of the taxonomy, but for reasons that I’ll not go into, the FAF did not seem to be fully engaged.

There has been a lot of discussion suggesting that if there had been an XBRL taxonomy for MBSs and other CDOs (etc) and a taxonomy for government stimulus spending, that somehow the next crisis can either be averted or reduced – that the lack of transparency was a cause of the last crisis, and will contribute to the next.

For years now (well, the past two to three years) the assumed wisdom has been that the creation of a set of XBRL documents for filling with the SEC would require between 40 to 80 person hours. Lately the figure of 30 to 50 has been used, with “10% taking more than 80 hours”.

XBRL US announced today that it released and posted the digital dictionary for US GAAP reporting which has been accepted by the Securities and Exchange Commission (SEC).

XBRL US, the nonprofit consortium for XML business reporting standards, today announced that they had completed a new draft of the XBRL US GAAP Taxonomies, and have made it available for public review. This second release of the US GAAP data tags builds on the first release completed and published on April 28, 2008 under contract with the Securities and Exchange Commission (SEC).

On February 13, 2008, the XBRL-based financial listed company taxonomy formulated by the Shanghai Stock Exchange (SSE) was “Acknowledged” by the XBRL International. The acknowledgement information has been released on the official website of the XBRL International (http://www.xbrl.org/FRTaxonomies/). All the technical documents of the taxonomy have been published on the SSE website of http://xbrl-cn.org to [...]

XBRL Ireland have released the XBRL Irish AAP Taxonomy revision to cover FRS20-29 for general purpose Irish Commercial & industrial (C&I) companies as a Public Working Draft for public comment.
Everybody are invited to download the taxonomy from http://www.xbrl-ie.org and submit feedback to XBRL Ireland.

XBRL is supported by local organizations called “Jurisdictions”. Jurisdiction is focused on country which represent and its purpose is education, marketing, explanation of the XBRL benefits and support in XBRL implementation.
There are two types of Jurisdictions – provisional and established. Provisional Jurisdictions are small groups which are beginning the process of XBRL introduction. Established Jurisdictions [...]