Systems and methods for automated taxonomy concept replacement in an xbrl document

Abstract

An XBRL extension taxonomy concept replacement system includes: a computer processor having a memory on which a program executable by the processor is stored for performing a method of XBRL extension taxonomy concept replacement; an XBRL taxonomy module including an XBRL extension taxonomy having XBRL extension taxonomy concepts and an XBRL base taxonomy having related XBRL base taxonomy concepts; and an automated superfluous XBRL extension taxonomy concept detection module that analyzes an XBRL document having XBRL tags and identifies an XBRL extension taxonomy concept of an XBRL extension taxonomy that is superfluous in comparison with an XBRL base taxonomy concept of an XBRL base taxonomy upon which the XBRL extension taxonomy is based.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of U.S. patent application Ser. No. 14 / 473,391 entitled “Systems and Methods for Automated Taxonomy Concept Replacement in an XBRL Document” and filed on Aug. 29, 2014, which is a continuation-in-part of U.S. patent application Ser. No. 13 / 834,846 entitled “Systems and Methods for Automated Taxonomy Migration in an XBRL Document” and filed on Mar. 15, 2013, which claims the priority benefit of U.S. Provisional Patent Application No. 61 / 639,457 entitled “Systems and Methods for Automated Taxonomy Migration in an XBRL Document” and filed on Apr. 27, 2012, all of which are hereby incorporated herein by reference in their entirety.BACKGROUND[0002]1. Field[0003]Embodiments generally relate to reporting of business data in documents using the eXtensible Business Reporting Language (XBRL), and more particularly to systems and methods for automated taxonomy migration in an XBRL document.[0004]2. Related Art[0005...

AI Technical Summary

Benefits of technology

This system automates the migration process, reducing the time and expense associated with taxonomy updates, ensuring accurate data representation by maintaining the integrity of calculations and data accuracy during concept replacement, and facilitating the use of the latest taxonomies.

Problems solved by technology

One of the ongoing challenges faced by those preparing financial statements or other business reports with XBRL is managing change within the source taxonomy.

In existing business reporting systems and methods using XBRL, migrating an XBRL representation of a business document from a current or older XBRL taxonomy to a new updated taxonomy is a laborious and error-prone task.

Because of the complexities, the time and expense associated with migrating XBRL documents from one taxonomy to a new taxonomy has traditionally been very high, resulting in many XBRL documents continuing to be based upon deprecated taxonomies rather than being updated to the latest taxonomies.

Images