The IFRS Foundation has published today for public comment an Exposure Draft on the IFRS Taxonomy 2013. The proposed Taxonomy is a translation of Standards and Interpretations as issued at 1 January 2013 into XBRL (eXtensible Business Reporting Language).
The 2013 Taxonomy consolidates all IFRS Taxonomy interim releases that were published in 2012. Standards issued by the International Accounting Standards Board (IASB) from 1 January 2013 onwards will be published as interim releases to the Taxonomy.
In addition, the proposed IFRS Taxonomy 2013 includes concepts that reflect some industry practices. These concepts have been derived from an analysis of financial statements prepared by companies’ representatives from the banking, insurance and extractive (mining and energy) industries.
The IFRS Foundation will host a webinar on 4 February 2013 to provide details and answer questions related to this publication.
The Exposure Draft can be accessed via the project page or on the Comment on a proposal page. The Exposure Draft is open for comment until 18 March 2013.
Mark Byatt, Director of Communications and External Affairs, IFRS Foundation
Telephone: +44 (0)20 7246 6472
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495