Digital Financial Reporting/Digital Financial Reporting Principles

The following are digital financial reporting principles.


 * 1) Recognize that the goal is the meaningful exchange of information readable by both humans and machines
 * 2) Meaningful exchange requires prior existence of agreed upon technical syntax, business domain semantics, and business domain workflow/process rules
 * 3) Recognize that even if SEC filing rules and the US GAAP XBRL Taxonomy may allow for ambiguity; approaches do exist where SEC filings rules can be followed and information is consistent, explicit and unambiguous
 * 4) Recognize that being explicit contributes to the unambiguous interpretation of reported information
 * 5) Strive for consistency
 * 6) Recognize the difference between presentation and representation
 * 7) Recognize that a financial report must be a true and fair representation
 * 8) Recognize that financial reports contain a discrete set of report elements which have specific properties and relations
 * 9) Recognize that digital financial report elements can be categorized into common groups which have common relevant properties
 * 10) Recognize that each category of report elements has allowed and disallowed relations
 * 11) Recognize and respect relations between SEC Level 3 [Text Block]s and SEC Level 4 Detail disclosures
 * 12) Recognize the existence of and properly respect and represent intersections between financial report components
 * 13) Recognize and respect fundamental accounting concepts and unchangeable relations between those accounting concepts
 * 14) Recognize and respect common financial report component arrangement patterns
 * 15) Recognize and respect common member arrangement patterns
 * 16) Avoid mixing or run-together concept arrangement patterns
 * 17) Avoid mixing distinct characteristics and concepts
 * 18) Recognize need for both automated and manual verification processes
 * 19) Recognize that concepts cannot be moved between fundamental accounting concept categories or classes
 * 20) Recognize that concepts reported within a financial report can be grouped into useful sets or classes
 * 21) Avoid unknowingly changing information representation approach midstream
 * 22) Avoid inconsistencies in network identification
 * 23) Recognize that characteristics apply to all reported facts within a report component
 * 24) Recognize that rendering engines render presentation differently but the meaning is the same across all rendering engines
 * 25) Recognize that the number of members in reported set does not change the characteristics of a reported fact
 * 26) Label networks with meaningful information
 * 27) Understand that every financial report has one report frame or report pallet

For details see: Digital Financial Reporting Principles