The Objectives of this Project are:

• To update the previously created structured accounting data formats to record IFRS financial statements in order to make European comparisons of such data easier. [ECCBSO objective]

 

• To capture 100+ "Real Case" examples of company data using XBRL. [ECCBSO objective] [ECCBSO and IASCF Joint objective]

 

• To identify, develop and test an XBRL-enabled platform for easy extraction and analysis of IFRS-based XBRL tagged data for statistical purposes by CBSOs. [ECCBSO and IASCF Joint objective]

That is, this project collects IFRS Real Cases using XBRL and makes the data available for analysis

Project Steps

1. Workflow Improvements

In order to create high-quality XBRL Instance Documents the 3rd Working Group of ECCBSO and the IASC Foundation XBRL Team discussed and developed an Instance Creation Workflow based on experience from Phase I of the project.

The Instance Creation Process was split into three main categories, which were then subdivided and assigned to subgroups in the ECCBSO 3rd Working Group and IASC Foundation XBRL Team. The main categories constitute:

1. Spreadsheet creation
2. ECCBSO Taxonomy creation
3. XBRL Instance Mapping process

Workflow Chart 2006

2. Improved Data Collection Process

The Phase II proof of concept project’s main objective was to create 100+ real-data instance documents. In order to provide a stable instance documents development environment the IASC Foundation XBRL Team and the 3rd WG of ECCBSO decided to set up a detailed Data Collection Process allowing the developers to create high quality XBRL files.

To see an overview of the Data Collection Process please click below:

Phase II Data Capturing

3. Improved Data Quality

XBRL Instance quality is highly dependent on real data quality provided by users. In order to keep it at the highest level possible, IASC Foundation XBRL Team members developed mechanisms to help users fill in the spreadsheet by providing information about potential mistakes. This pre-validation mechanism facilitates the procedure for both users and the development team.

To find out more please visit the Pre-validation section:

Phase II Data Pre-Validation

Assessment

Based on the experience from Phase I of the project, the IASC Foundation XBRL Team researched available on the market solutions supporting data capturing process.

The main objective of this research was to find a comprehensive and reliable solution for data collection and mapping. As a result the developers team decided to continue using the MS Excel solution enhanced with additional validation mechanism for data capturing and the Fujitsu Mapping Tool for XBRL mapping.

Please visit Solutions section to find out more about the various solutions considered and the mechanism applied:

Phase II Assessment