IFRS Taxonomy Prepare´s guide

Today has been published a new guide for the IFRS Taxonomy. This guide tries to assist the way to use the electronic tagging of their financial statements for the companies.

In the IFRS Foundation words:

The updates to the preparer’s guide come in response to requests for clarifications from stakeholders and include:

  • a new section that provides more detail on how to communicate company-specific information;

  • new examples illustrating how to find the correct element when tagging the primary financial statements; and

  • other clarifications and improvements.”

The IFRS Taxonomy, defining codes, elements, and so on; attempts to simplify the construction and usage of IFRS electronic financial statements. Using this electronic format and tagged information; qualifies stockholders to look for, understand and analyse the whole numeric information in an easy way.

Here you can find the “Using the IFRS Taxonomy—A preparer’s guide

IFRS Foundation produces a set of documents to encourage and improve the use of the IFRS Taxonomy around the world by regulators, companies and users of financial information.

Click here to link IFRS website.