XBRL and ESEF: Primer

Phalanx Software is holding a half-day, CPE-accredited online seminar on the 16th of November 2022 to teach the basics of XBRL and the use of the ESEF taxonomy for tagging consolidated financial statements for public-listed companies.

The seminar is aimed at anyone who has to work with XBRL or issuers looking to prepare ESEF-tagged financial statements. No prior knowledge of XBRL and ESEF is required for the seminar. During the seminar, we focus on the underlying XBRL markup language, without focusing on any specific software, allowing participants to use their software of choice when working with XBRL, in the future.

Details

  • Delivered by: Kyle Pullicino, founder and software developer at Phalanx Software Ltd.
  • Date/Time: 16th November 2022 at 09:00
  • Duration: Half-day seminar
  • CPE Hours: 1 Core and 2.5 Professional Development
  • Venue: The seminar will be held online and participants will be sent the meeting link a few days before the event.
  • Price: € 200 (incl. VAT) per person

Programme

  • Background
    We begin the seminar by going through the relevant EU regulations and rules that require public-listed companies to issue consolidated financial statements that are digitally tagged using the ESEF taxonomy.
  • XML, XBRL and Facts
    We then explain some basic terminology and demonstrate the various file formats involved in preparing ESEF-tagged consolidated financial statements. We also introduce the difference between XBRL Concepts and Facts and how they are used to delimit numerical values in a report.
  • XBRL Contexts
    Afterwards, we see how different XBRL contexts can be defined and used to express different Fact Values for a particular Concept across different circumstances or date periods. We describe the different ways we can express dates and how we can use dimensions to more accurately break-down a Fact into its component values.
  • XBRL Taxonomies and Linkbases
    While it is possible to prepare an XBRL report without a taxonomy, we demonstrate how a taxonomy can be used to assign semantics to Facts and verify that an XBRL report is well-written. Furthermore, we look at the different linkbases (presentation, calculation, definition, label) that can be added to a taxonomy and their effect on how a report is interpreted by external tools.
  • The IFRS and ESEF Taxonomies
    In the second part of the seminar, we introduce the IFRS and ESEF base taxonomies which contain all the concepts that companies should use when tagging their financial statements. We also explain how the ESEF regulations require that companies prepare an extension taxonomy to define the semantic organisation of their report.
  • Inline XBRL (iXBRL) and Viewer
    We then explain how XHTML, and a variant of XBRL called 'Inline XBRL' (iXBRL), can be used to prepare human-readable tagged financial statements as required for ESEF. We also demonstrate an iXBRL viewer allowing anyone to click through, explore and analyse the XBRL facts embedded within a document.
  • Custom Concepts and Anchoring
    To support concepts that might not necessarily be accurately described by concepts already defined within the ESEF base taxonomy, we explain how to add custom concepts in the extension taxonomy. Through a process known as Anchoring, we also relate newly created custom concepts to concepts in the base taxonomy to assign additional semantics to custom concepts we create.
  • Open-source XBRL Validation
    In the last part of our seminar, we showcase an open-source XBRL-certified tool that can be used to explore the base ESEF taxonomy and also validate ESEF-tagged financial statements before they are submitted to regulatory authorities.

Online Booking

We kindly ask anyone interested in attending the seminar to book early and settle the attendance fee through the link below. Participants will receive the relevant video conferencing link to join the seminar a few days before the event's date.

Purchase Tickets

For more information about the seminar, feel free to contact us on contact@phalanx.software.

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