Wednesday, December 16, 2009

IASC Foundation publishes 2010 architecture for the IFRS and IFRS for SMEs Taxonomies

On December 9, 2009, the IASC Foundation issued a release to announce that "the International Accounting Standards Committee (IASC) Foundation  published The IFRS Taxonomy 2010 Architecture Draft for public comment.  It also published a project summary and feedback statement on Architectural improvements to the IFRS Taxonomy.  The feedback statement summarises the architectural improvements that will be implemented in the next release of the IFRS Taxonomy in 2010 as a result of consultations in July 2009. 

"The IFRS Taxonomy 2010 Architecture Draft documents in detail the XBRL (eXtensible Business Reporting Language) architecture of the IFRS Taxonomy 2010, including the IFRS for Small and Medium-sized Entities (SMEs) TaxonomyIt explains the design rationale of the IFRS Taxonomy architecture, how the architecture satisfies the requirements of the Taxonomy, and the use of axes (dimensions), taxonomy modularisation, taxonomy framework, extensions framework and instantiation in the Taxonomy.  It also addresses new XBRL technologies such as formulae, rendering and versioning, and the technical aspects of the IFRS Taxonomy relevant to software vendors."


Post a Comment

<< Home