Thursday, June 26, 2008

IFRS * XBRL = New Taxonomy

Link to taxonomy:

  • After providing a comment period for a draft taxonomy in March, the International Accounting Standards Committee has published in final form an XBRL Taxonomy for businesses using IFRS for their accounting basis. The document includes an Architecture Paper and Extenders Guide and has been thoroughly reviewed by the XBRL Review Team. Although not clearly indicated, the taxonomy apparently includes notes
    as well as financial statements.

    Congratulations to the IASC on this accomplishment. Users of financials throughout the world will increasingly have excess to all the benefits that XBRL promises.


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