Adopting Standard Business Reporting

Transcription

1 Adopting Standard Business Reporting Understanding the taxonomy Version 1.0 (issued November 2013) Australian Prudential Regulation Authority

2 Disclaimer and copyright While APRA endeavours to ensure the quality of this publication, it does not accept any responsibility for the accuracy, completeness or currency of the material included in this publication and will not be liable for any loss or damage arising out of any use of, or reliance on, this publication. Australian Prudential Regulation Authority (APRA) This work is licensed under the Creative Commons Attribution 3.0 Australia Licence (CCBY 3.0). This licence allows you to copy, distribute and adapt this work, provided you attribute the work and do not suggest that APRA endorses you or your work. To view a full copy of the terms of this licence, visit by/3.0/au/. Australian Prudential Regulation Authority ii

3 Contents Introduction 5 The basics of XBRL 5 Definitional taxonomy and reporting taxonomy 6 Labels 8 Language 8 Definition taxonomy labels 8 Standard label 9 Business definition 9 Business guidance 10 Report taxonomy labels 10 Report label 11 Report guidance 11 Dimension taxonomy labels 11 Taxonomy design guidance 12 Concepts 12 Same concept reported values are identical 12 Same concept different time period 12 Dimensionality/Contextualisation 13 Criteria 13 When to apply a dimension 13 Segment vs. Scenario 13 Balance attribute 14 Period type - Instant/Duration 14 Attributes that have not been included in the taxonomy 15 D2A form scenarios 15 Tuples 15 Report consolidations as dimensions 15 Australian Prudential Regulation Authority iii

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5 Introduction This document has been provided to assist APRA reporting entities to understand the design principles used to create the APRA SBR Taxonomy. It outlines the decisions in respect of the harmonisation or creation of data elements. It is not intended to be a set of hard and fast rules, but more a consideration of the alternatives when presented with certain scenarios. It is provided as background or introductory information. The basics of XBRL The creation of an XBRL taxonomy requires the identification of both the data a computer requires, and the information required for human interpretation. The human aspect involves identifying what the data element is and how it should be used. Computers only require an element identifier to deal with the data in the manner in which they have been programmed. The single requirement is that the identifier be unique within the set of data elements with which it has to deal. Humans need additional information to understand what a data element is intended to represent, such as descriptions and references. Before XBRL, programmers tried to put additional information into the element identifier to convey all required information in a computer readable format. This task proved difficult because one person s interpretation of the data could vary greatly from another s, whilst the element remained the same. XBRL sought to overcome this problem by providing external linkbases - places where the human language and interpretations could be captured that were linked to, but not part of, the element itself. Linkbases enable personal preferences for describing an element to be captured, without compromising the simple needs of the computer for a unique identifier. People more readily agree on what something is, than what it should be called. XBRL allows for everyone's preference to be captured and different descriptions of the element to be used, thus avoiding the one size fits all problem. There are several standard XBRL linkbases where the descriptive information about the data elements (metadata) can be captured: Label for easily readable documentation of the taxonomy elements like names, definitions and usage guidance; Reference for references to authoritative literature that conveys shared understanding among the taxonomy s stakeholders on what a data element actually is, regardless of the various labels associated with it, e.g. Australian accounting standards; Definition for structural information about the hierarchies in which the element exists. In SBR this is mainly used to hold information about the dimensions of a data element; Australian Prudential Regulation Authority 5

6 Calculation for simple arithmetic validations involving the element, e.g. checking net figures or subtotals and totals calculate correctly, only addition and subtraction are contained here; and Presentation for visual representation of the hierarchies (structure) in a taxonomy and the order in which elements in a list should be viewed. The different descriptions, called labels in XBRL, are identified by label roles. A single data element can have an unlimited number of labels attached to it, each with its own unique label role to identify it to the computer. Computer (IT responsibility) Human (Taxonomy developer responsibility) Role = label/apralabel Client Reference <custid> Role = label/busdefinition Role = label/standard This is the unique identifier used within the agency system that receives the data Party Identifiers Customer Identifier SBR has determined that every element in the SBR AU Taxonomy will have the standard label role. This label is constructed from the Naming Convention SBR adapted from ISO The naming convention s purpose is to use non-agency specific language to generically describe a data concept that enables anyone to search the taxonomy and find the element that represents that concept without understanding agency jargon. Definitional taxonomy and reporting taxonomy SBR architecture dictates that data elements on the forms are represented in SBR by a two level structure: 1. Definitional Taxonomy, which holds the elements and the generic descriptive information; and 2. Reporting Taxonomy (one per form), which holds the presentation and form specific information. Australian Prudential Regulation Authority 6

7 These linkbases can be attached to every taxonomy, and labels can be defined at both levels for a data element. Computer (IT responsibility) DEFINITION <custid> imports Human (Taxonomy developer responsibility) Role = label/apralabel Role = label/busdefinition Client Reference This is the unique identifier used within the agency system that receives the data Role = label/standard Party Identifiers Customer Identifier REPORTING <custid> Role = label/rptlabel Super Fund Number The Reporting Taxonomy inherits linkbases from the Definitional Taxonomy. Additional metadata specific to the report can be introduced at the Report Taxonomy level. From the users perspective, all the metadata is available for use. Users of the taxonomy can decide which labels they want displayed when viewing the taxonomy, or instances created from it. The taxonomy author can define one of the labels as a preferred label so that XBRL-aware software will default to this one if users express no preference. Australian Prudential Regulation Authority 7

8 Labels Language XBRL allows for any number of labels in any number of languages to be applied to a data element. APRA has restricted its labels to English only, i.e. lang= en. APRA has created labels for each data element according to the following table: Taxonomy LabelType Example Source SBR Definition Standard Electronic Contact Electronic Mail Address Text Definition busdefinition Denotes the address of an electronic mail service. Definition busguidance A choice of TRUE/FALSE values. TRUE = Independent actuarial advice has been commissioned by the reporting party during the relevant period. FALSE = Independent actuarial advice has not been commissioned by the reporting party during the relevant period Modified AGIMO BRM APRA form instructions (common) and prudential standards APRA forms (specific) Reporting rptlabel APRA forms (specific) Reporting rptguidance Provide the business address only. Do not use personal addresses e.g. Gmail APRA form instructions (specific) SBR Mandatory SBR Mandatory APRA Mandatory SBR Optional (Mandatory for Boolean items or items with a list of allowable values) APRA Optional (Mandatory for Boolean items or items with a list of allowable values) SBR Optional APRA Mandatory SBR Optional APRA Optional Definition taxonomy labels Standard labels and business definition labels are attached to data elements in the Definitional Taxonomy. They are generic in nature and are used to define a reporting taxonomy, in addition to any labels at the report level. Australian Prudential Regulation Authority 8

9 Standard label SBR Definitional Taxonomy elements have a standard label that uses the XBRL default label role and the XBRL default extended linkrole (as defined by XBRL.org). The standard label format is inherited from the SBR AU Taxonomy and assists users to navigate through the taxonomy and discover unique data elements. It is constructed in the format: Object Class [space] Property [space] Classword Object classes are initially taken from the topic categorisations in APRA s internal Data Dictionary and are modified as appropriate. Modifications should ensure consistency with the SBR structures ( inspired by AGIMO s Business Reference Model) and consistency of the hierarchy within APRA. When APRA creates new object classes (subject areas), data elements to be classified within these new classes must be documented and agreed before the object class is applied. Further, the definition for an object class must be consistent with the definition of its parent class. Property is an English language description of the element based on the form labels where the element is used. The purpose of the property is to make the label unique; therefore it is the most granular component of the label. Classwords are taken from the SBR standard classwords. Business definition The shared understanding of an element can potentially be included in any of the following places within the DTS (Discoverable Taxonomy Set the set of files that hold the elements and all the linkbases for the taxonomy): as business definition and/or business guidance in the Label linkbase attached to the Definitional Taxonomy; and/or as report guidance in the Label linkbase attached to the Report Taxonomy; and/or as a pointer to an authoritative document in the Reference linkbase attached to either the Definition and/or the Report Taxonomies. Note that the business definition is a mandatory requirement under the SBR architecture. Therefore APRA includes all information regarding the shared understanding of a data element in the business definition. This ensures all the information required to understand the element is in the one place. role = APRA references authoritative documents (i.e. legislation, reporting standard) at a high level within the business definition, e.g. refer to the relevant Prudential Standards. Subsequent changes to these documents will therefore not affect the label linkbases. References will not refer to numbers (standard, section or page) as these may change over time and result in a maintenance burden going forward. This label role is in the same extended linkrole as the standard label, i.e. The text included in this label comprehensively describes APRA s understanding of the element. A user should not need to reference any other metadata to understand APRA s requirements in regard to a concept, i.e. no semantic meaning (at the whole of government definitional level) should be contained in any other taxonomy artefact that is not contained in the Business Definition label. Australian Prudential Regulation Authority 9

10 Business guidance The business guidance label is used to provide additional information at the definitional level that can be separated from the business definition label in order to keep the definition concise. Such additional guidance may be a description of what to include or exclude, or examples or descriptions of how the element is calculated, e.g. Name Business Definition Business Guidance ProfitOrLoss.Unrealised.ChangeInCreditworthinessFairValueGainsNe t.amount This is the net value, as at the relevant date, of any unrealised fair value gains and (losses) arising from changes in the reporting party's credit worthiness. A gain may arise, for example, from a reduction in fair value of the reporting party's outstanding debt due to a change in credit rating. A net gain must be reported as a positive figure and a net loss as a negative figure. The business guidance label is always used when an element is a Boolean type and provides a definition of the true/false values, e.g. Name Business Definition Business Guidance RegulatoryDisclosures.DefinedBenefitInterests.Indicator This indicates whether the member has a defined benefit interest or a defined benefit pension. A choice of TRUE/FALSE values. true = The member has a defined benefit interest or a defined benefit pension. false = The member does not have a defined benefit interest or a defined benefit pension. The business guidance label is also used when an element is restricted to a defined set of values, e.g. Name Business Definition Business Guidance SuperannuationRegulatoryInformation.OperationalRiskFinancialRequ irementheld.code This indicates how the financial resources to meet the Operational Risk Financial Requirement (ORFR) are held. The valid enumerated values are: ORFR trustee capital = The trustee capital held for the purposes of meeting the Operational Risk Financial Requirement (ORFR); ORFR reserve = The reserve held for the purposes of meeting the Operational Risk Financial Requirement (ORFR); ORFR trustee capital and ORFR reserve = A combination of Operational Risk Financial Requirement (ORFR) trustee capital and at least one Operational Risk Financial Requirement (ORFR) reserve. Report taxonomy labels Report level labels are specific to the form that is the subject of the Report Taxonomy and are in addition to the labels made available from the Definitional Taxonomy. Australian Prudential Regulation Authority 10

11 Report label Report labels are attached to the Report Taxonomy for each form with: role = APRA has no official default label for an element. Any change to a label for an element must be made on each form on which the element appears. XBRL allows for an extended linkrole to be identified with each label so that multiple labels can be applied to an element. The SBR convention is to name this with an identifier that is unique to each report taxonomy. For these reasons, APRA places all Report Taxonomy labels into an extended linkrole called: Report guidance The report level label is used to provide the user with a close-as-possible representation of the label on the physical D2A form. The report level guidance is used to provide form, or report, level guidance to an existing concept. Information should only be included as report guidance where it is not appropriate for inclusion within the business definition, but is required to aid understanding. This will typically include industry or form-specific language/jargon, additional instructions relating to the reporting of the concept on a particular form, and any useful or necessary cross-form validations. Report guidance must not add to the description, or definition, of the concept contained within the business definition. Dimension taxonomy labels The SBR taxonomy provides a simple label for each domain member that typically repeats the element name but with spaces between words. APRA provides a label and guidance for each element in a dimension taxonomy. All labels are placed in the default extended linkrole, The labels have role = i.e. the same as the definitional taxonomy standard labels and the same as SBR usage. The guidance have the standard XBRL documentation role = Australian Prudential Regulation Authority 11

12 Taxonomy design guidance Concepts Same concept reported values are identical Items with different D2A attributes are identical concepts when the same value is reported by the same entity for the same period. This may occur when the instructions/guidance for each form differ but the concepts requested are the same. Same concept different time period When the same concept is reported as at two different time periods, the simple context period should be used. For example, retained earnings at the beginning of the reporting period vs. retained earnings at the end of the reporting period. Australian Prudential Regulation Authority 12

13 Dimensionality/Contextualisation Criteria Dimensions are used to provide contextualisation to an individual or group of concepts. A dimension is generally applied to an element to slice and dice the data by geography or currency, for example. There are two types of dimensions within the SBR taxonomy, Typed and Explicit dimensions. The extraction of semantics from the metadata of an individual reporting requirement should allow for the broadened reuse of the resulting element. This process of extracting semantics should only occur to the extent that the remaining element is a sensible, stand-alone concept. A reusable dimension is one that can be applied to, and can provide appropriate semantics to, numerous unrelated elements. When to apply a dimension When the decision of what part of an element s metadata should be extracted and applied in the form of a dimension, and what part should remain as the fully qualified element cannot be made using the guidance above, the following considerations should guide the final design decision: Do specific reporting requirements exist that suggest business analysis and/or comparison will be undertaken based on a specific criterion embedded within the element s metadata? If so, the metadata that specifically relates to this criterion should be the part extracted and applied in the form of a dimension. If there is no suggestion that business analysis and/or comparison will be undertaken, as in the previous point, the part of an element s metadata that should be extracted and applied in the form of a dimension is the part that potentially provides the greatest reuse. If a dimension already exists within the SBR taxonomy that caters for the semantics being considered for extraction, then contextualise accordingly to maintain semantic consistency with SBR. Segment vs. Scenario XBRL contains two semantically different contexts for dimensions: Segment - Scenario - for analysis of concepts by breaking them down into various slices of the pie, e.g. wages by state or income by business unit; and for comparison of concept values created under different sets of assumptions, e.g. budget v actual, or last year s estimate v this year s estimate. Australian Prudential Regulation Authority 13

14 SBR only allows the use of the segment concept. The Dimensions specification does not allow for the two different concepts to be used simultaneously within a single hypercube and this limitation is accepted. The business requirement for dimensions based on the semantics of scenario still exists and are implemented within APRA as dimensions. Balance attribute All elements with a data type of monetary must have a balance type defined to identify their value as positive or negative. General accounting principles dictate the balance types as follows: Debit: balances of Assets & Expenses; Decreases in Liabilities, Equity & Income Credit: balances of Liabilities, Equity & Income; Decreases in Assets & Expenses Net items (those elements that are the result of one concept being subtracted from another) should be set according to the most likely, or intended, result for a going concern business. For example: Net Profit could be positive (credit) or a loss (debit). A going concern business would typically report a profit and so the element should be a credit. Net Position of Derivative Contracts may alternate between an asset (debit) and liability (credit), however the intended outcome is a debit balance. Adjustments to elements have no typical balance and so should have their balance type set to be the same as that of the element that they are adjusting. In this way, any positive value assigned to the adjustment will increase the element and any negative value will decrease the element (this is consistent with natural business practice). Off Balance Sheet items also have no natural balance type as they are rarely recorded using the double entry book keeping method. However, they are typically related in some way to an on balance sheet concept. For simplicity and consistency in application, where an on balance sheet related concept can be identified, the balance type of the off balance sheet concept should be set to the same value. Period type - Instant/Duration The period type conveys important metadata regarding the reporting requirements for an element. The following defines the guiding principles on when to use the period type - instant, duration and forever: 1. Instant is the appropriate attribute when the data is as at a particular date or point in time, e.g. items that would appear in a balance sheet. 2. Duration is the appropriate attribute for aggregate data that sums, averages or otherwise operates on values between two points in time, e.g. items that appear in a statement of profit and loss. 3. For concepts that do not fall neatly into the above two categories (e.g. name and address details), the SBR approach is to assign a period type of duration and the report guidance label is used to instruct whether the data element needs to be reported as an instant. The intent of this approach is to avoid the duplication of data elements within the SBR AU Taxonomy where the only difference is the period type. Australian Prudential Regulation Authority 14

15 4. The forever attribute MUST only be used for data elements which have a fact value that is always true, the example commonly used being the value of Pi. SBR has not utilised the forever period type to date but this does not mean it cannot be used if a valid requirement is identified. 5. The business definition of a concept should provide sufficient clarity as to whether the concept is an instant or a duration and the period type should not contradict the business definition. 6. Concepts with a duration have two associated dates to reference the period start and period end. In most instances this is the beginning of the reporting period and the end date of the reporting period. Attributes that have not been included in the taxonomy Some attributes exist on forms that are redundant or nonsensical. It provides no benefit to draft concepts for these and APRA may determine to disallow entities from mapping these to their data. When such a decision is made, these attributes are not included in the taxonomy and are marked as an unmapped attribute within the XBRL to D2A conversion. An example of such attributes are the risk weights included within the reporting forms. D2A form scenarios Tuples Tuples are used to group and provide contextualisation to a set of concepts that cannot be clearly defined, or do not make sense, when left as standalone concepts. Tuples are typically used to distinguish repeating rows in a table. Tuples are to be used only where contextualisation through the use of dimensions is not appropriate. Tuples are to be supplied with a Standard Label, Business Definition and Report Level Label. Report consolidations as dimensions Reporting consolidations that exist in the form header are modelled in the taxonomy as dimensions. This enables a consistent method to distinguish the information on a particular form without using the form code. Australian Prudential Regulation Authority 15

16 Telephone Web site linking to Mail GPO Box 9836 in all capital cities (except Hobart and Darwin) D2A_SBR_UTT_112013