Autogenerated by XSLT stylesheet Created by Charles Hoffman, CPA, UBmatrix: 2010-08-01 The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Financial Highlights (in US Dollars) 2010 2009 2008 2007 2006 Revenues, Net Income (Loss) from Continuing Operations Net Income (Loss) (b) Cash Flow Provided by (used in) Operating Activities, Net Capital Additions Average Number of Employees (a) COMMENTS: (a). (b). NOTE: The current task is to get the XBRL working the way that it needs to work between the pieces of this prototype financial report. After that is complete, the next task will be to get the financial report to make more sense from a financial reporting perspective. The ultimate goal is to have a high quality model financial from both an XBRL and financial reporting perspective. (i.e. I realize that the report is not correct from a financial reporting perspective at this point, I will get there.) NOTE: One goal of this prototype is to articulate to certified public accountants and chartered accountants the issues and options they have when expressing financial information in XBRL in order that they understand the options they have available and the differences (pros and cons) between the options. NOTE: One missing issue is how to distinguish between continuing and discontinued operations. That will be incorporated eventually. POINT: A taxonomy modeled well from a data perspective can yield a good document-type rendering. POINT: Detailed information and summary information (whatever they may be about and whereever one might choose to present them) need to be tied together from a data perspective. POINT: Restatement, reclassified, reissued are financial reporting use cases which must be addressed. POINT: The data integrety of all computations must be proven to be correct (roll ups, roll forwards, dimensional aggregations, etc). POINT: The sequence or ordering of a financial statement can be articulated using the definition and/or presentation linkbases (rather than extended links). The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Consolidated Balance Sheets (in US Dollars) As of December 31, 2010 2009 ASSETS Current Assets Cash and Cash Equivalents Receivables, Net of allowance of and in 2010 and 2009, respectively Inventory Prepaid Expenses Investments, at Cost Other Assets, Current Assets, Current Noncurrent Assets Property, Plant and Equipment, Net Land Buildings, Net Furniture and Fixtures, Net Other Property, Plant, and Equipment, Net Property, Plant, and Equipment, Net Investment in Affiliates Other Assets, Noncurrent Assets, Noncurrent Assets LIABILITIES AND EQUITY Current Liabilities Payables and Accruals Long-Term Debt, Current Other Liabilities, Current Liabilities, Current Noncurrent Liabilities Long-Term Debt, Noncurrent Other Liabilities, Noncurrent Liabilities, Noncurrent Equity Class A Preferred Stock; $ par value, authorized shares; shares issued; shares outstanding; liquidation preference Class A Common Stock; $ par value, authorized shares; shares issued; shares outstanding Class B Common Stock; $ par value, authorized shares; shares issued; shares outstanding Additional Paid in Capital Retained Earnings (Accumulated Losses) Equity Liabilities and Equity The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Consolidated Income Statements (in US Dollars) For Year Ended December 31, 2010 2009 Revenues, Net Cost of Sales Gross Profit (Loss) Operating Expenses Operating Income Operating Income (Loss) Interest Expense (Income) Other Nonoperating Expenses (Income) Income (Loss) from Continuing Operations Before Income Taxes Income Tax Expense (Benefit) Income (Loss) from Continuing Operations Income (Loss) from Discontinued Operations, Net Net Income (Loss) Earnings per share: Basic Weighted Average Number of Common Shares The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Consolidated Cash Flow Statement (in US Dollars) For Year Ended December 31, 2010 2009 Cash Flow Provided by (used in) Operating Activities, Net Proceeds from Collection of Revenues Payments of Operating Expenses Payments of Interest Cash Flows Provided by (used in) Operating Activities, Net Cash Flow Provided by (used in) Investing Activities, Net Payments for Purchases of Property, Plant, and Equipment Proceeds from Sale of Property Plant and Equipment Cash Flows Provided by (used in) Investing Activities, Net Cash Flow Provided by (used in) Financing Activities, Net Payments of Long-Term Debt Proceeds from Additional Long-Term Debt Cash Flow Provided by (used in) Financing Activities, Net Cash Flow, Net Cash and Cash Equivalents, Beginning Balance Cash and Cash Equivalents, Ending Balance The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Consolidated Statement of Changes in Equity (in US Dollars, except for shares) Preferred Stock (Shares) Common Stock (Shares) Preferred Stock Common Stock Additional Paid in Capital Retained Earnings (Accumulated Losses) Equity Balance at December 31, 2008 Net Income (Loss) Dividends Paid Preferred Stock Issued Common Stock Issued Stock Options Exercised Preferred Stock Buybacks Other Increase (Decrease) Balance at December 31, 2009, Previously Reported Correction of an Error Change in Accounting Policy Balance at December 31, 2009, Restated Net Income (Loss) Dividends paid Preferred Stock Issued Common Stock Issued Stock Options Exercised Preferred Stock Buybacks Other Increase (Decrease) Balance at December 31, 2010 Classes of Preferred Stock Class Par Value Share Subscriptions Shares Authorized Shares Issued Shares Outstanding Amount 2010 Amount 2009 Total all Classes Classes of Common Stock Class Par Value Share Subscriptions Shares Authorized Shares Issued Shares Outstanding Amount 2010 Amount 2009 Total all Classes NOTE: Currently the shares columns (first and second columns) reconciles total shares for each class of stock. This should reconcile by each class of share. NOTE: The balance of each year ties to the balance sheet. The share totals ties to the detailed reconciliation of preferred and common shares. NOTE: The schedules of preferred and common stock detailed information is a 'data centric' presentation of the exact same information which is disclosed parenthetically on the balance sheet. While the information is typically not presented this way (a) it could be and (b) modeling the information this way does not preclude disclosing the information parenthetically. Regardless of how the information is presented, the data model of the information should be correctly modeled (i.e. all things which should tie together do tie together). The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 1. GENERAL Nature of Business Reclassification of Financial Statement Items Number of Employees The entity had and employees in 2010 and 2009, respectively. NOTE 2. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the more significant accounting policies of ABC Company, Inc. Cash and Cash Equivalents Policies Receivables Policies Inventories Policies Investments Policies Prepaid Expenses Policies Property, Plant and Equipment Policies Measurement Basis Depreciation Method Estimated Useful Life Other Assets Policies The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUTED) Payables and Accruals Policies Debt Policies Long-Term Debt Other Liabilities Policies Equity Policies Common Stock Preferred Stock Additional Paid in Capital Retained Earnings (Accumulated Losses) Income Taxes Policies Other Accounting Policies The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 3. CASH EQUIVALENTS AND INVESTMENTS Cash and Cash Equivalents Disclosures Details of Cash and Cash Equivalents As of December 31, 2010 2009 Cash, Unrestricted Cash, Restricted Petty Cash Other Cash and Cash Equivalents Total Reconciliation of Cash The following is a reconciliation of cash and cash equivalents reported on the balance sheet to cash and cash equivalents reported on the cash flow statement: 2010 2009 Cash and Cash Equivalents, per Balance Sheet Cash and Cash Equivalents, per Cash Flow Statement Investments The following is detail of the portfolio of investments of the company: Shares Description Moody's Rating S & P Rating Value 2010 SHORT-TERM INVESTMENTS United States USA Total Investments 2010 Shares Description Moody's Rating S & P Rating Value 2009 SHORT-TERM INVESTMENTS United States USA Total Investments 2009 The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 4. RECEIVABLES Receivables Disclosures Notes Receivable Disclosure Other Receivables Disclosure Receivables Details Details of Receivables, by Component As of December 31, 2010 2009 Trade Receivables, Net Finance Lease Receivables, Net Other Receivables, Net Receivables, Net Details of Receivables, by Current/Noncurrent As of December 31, 2010 2009 Receivables, Net, Current Receivables, Net, Noncurrent Receivables, Net Details of Receivables, by Gross/Net As of December 31, 2010 2009 Receivables, Gross LESS: Allowance for Doubtfull Accounts Receivables, Net KEY POINT: The point here is that sometimes the same total is aggregated in multiple ways. The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 5. INVENTORIES Inventories Disclosures Description of Inventory Components Description of Calculation of Net Realizable Value NOTE 6. PREPAID EXPENSES Prepaid Expenses Disclosures NOTE 7. PROPERTY, PLANT AND EQUIPMENT Property, Plant, and Equipment Disclosures Financing Type Leases As of December 31, 2010 2009 Property, Plant, and Equipment Under Finance Type Leases Property, Plant, and Equipment, Net, Pro forma The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 7. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) Roll Forward of Property, Plant and Equipment Land Buildings, Net Furniture and Fixtures, Net Other Property, Plant, and Equipment, Net Property, Plant, and Equipment, Net Balance at December 31, 2008 Additions Disposals Translation Difference Other Increase (Decrease) Balance at December 31, 2009 Additions Disposals Translation Difference Other Increase (Decrease) Balance at December 31, 2010 Disclosure of Leaseholds The following is a summary of leasehold land and buildings as of December 31, 2010 and 2009: Leasehold Location Description Tenure Tenure Start Date Land Area 2010 Value (at Cost) 2009 Value (at Cost) Total NOTE 8. OTHER ASSETS Other Assets Disclosures Other Current Assets Disclosures Other Noncurrent Assets Disclosures The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 9. PAYABLES AND ACCRUALS Payables and Accruals Disclosures Accounts Payable Disclosures Accrued Interest Payable Disclosures Accrued Expenses Disclosures Other Payables and Accruals Disclosures Details of Payables and Accruals As of December 31, 2010 2009 Accounts Payable Accrued Expenses Accrued Interest Payable Other Payables and Accruals Payables and Accruals, Total The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 10. DEBT Debt Disclosures Long-Term Debt Disclosures Debt Details As of December 31, 2010 2009 Secured Unsecured Subordinated Other Long-Term Debt Maturities Current 2012 2013 2014 2015 Thereafter Long-Term Debt Debt Instruments As of December 31, 2010 2009 Long-Term Debt Long-Term Debt, Current Long-Term Debt, Noncurrent POINT: Note that total Long-Term Debt is broken out in several different ways: by class of debt instrument, by maturity, and by debt instrument. This is done in two different and potentially inconsistent ways: by creating concepts (for the classes and maturities) and using dimenstions to a concept (for debt instruments). Is this inconsistency appropriate? When a reporting entity is creating an extention, how do they know which approach to use? NOTE 11. OTHER LIABILITIES Other Liabilities Disclosures Other Current Liabilities Disclosures Other Noncurrent Liabilities Disclosures The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 12. EQUITY Equity Disclosures Preferred Stock Disclosures Common Stock Disclosures Additional Paid-in Capital Disclosures Retained Earnings (Accumulated Losses) Disclosures Shares Authorized The following is a summary of shares authorized for each class of preferred and common stock which was outstanding as of December 31: As of December 31, 2010 2009 Authorized: Preferred Stock: Common Stock: The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 13. INCOME TAXES Income Taxes Disclosures Current and Deferred Portion of Income Taxe Expense (Benefit) The following is a breakdown of income taxe expense into their current and deferred portions: As of December 31, 2010 2009 CURRENT Foreign Domestic Current DEFERRED Foreign Domestic Deferred Income Tax Expense (Benefit) NOTE 14. SUBSEQUENT EVENTS The following is a summary of subsequent events for the company: The event occurred on . The event occurred on . The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 15. BUSINESS SEGMENTS The following is information about the business segments: 2010 Business Segment One Business Segment Two Eliminations Consolidated REVENUES External Sales Inter-segment sales Revenue, Net RESULT Segment result Unallocated Corporate Expenses Income (Loss) from Continuing Operations Income (Loss) from Affiliates Income (Loss) from Investments Income (Loss) from Continuing Operations Before Income Taxes Inome Tax Expense (Benefit) Net Income (Loss) BALANCE SHEET Assets Segment Assets Investment in Affiliates Unallocated Corporate Assets Consolidated Assets Liabilities Segment Liabilities Unallocated Corporate Liabilities Consolidated Liabilities OTHER INFORMATION Depreciation Amortisation Depreciation and Amortisation Capital Additions Impairment Losses (Reversals) Recognized in Income Number of employees at end of year QUESTION: The concepts Segmental Assets and Segmental Liabilities are distinct concepts. I am wondering if these should be dimensions of Assets/Liabilities. It seems like the answer is no because you have both consoliated Assets and consolidated Segmental Assets. The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 16. RELATED PARTY TRANSACTIONS The following is a summary of related party of the company and transactions with those related parties: Related Parties Name of Related Party Type of Relationship Nature of Relationship Transactions with Related Parties Party Transaction Description Pricing Policy Amount NOTE 17. DIRECTOR COMPENSATION The following is a summary of director compensation: Name of Director Salary Bonus Director Fee Total Salary, Bonus, Directors Fee Fair Value of Options Granted gaap:AllDirectorsMember QUESTION: Notice how the director comes from the 'company' and the total comes from 'gaap'. The higher in the chain of taxonomies the more comparability which will exist. What is the appropriate level to define the Axis (dimension) Director Name [Axis]? The accompanying notes are an integral part of these financial statements. ABC Company, Inc. Notes to the Consolidated Financial Statements December 31, 2010 and 2009 NOTE 18. SHARE OWNERSHIP PLANS Awards: Outstanding Outstanding Type 2009 Granted Forfeited Exercised Expired 2010 NOTE 19. OTHER MATTERS Sales Analysis The following is an analysis of revenue for the company for the period ended December 31, 2010. The analysis shows sales by customer ID for the company and for the consolidated total. Note that all sales are after elimination of inter-segment transactions. Customer ID 2010 Revenues, Net (All Customers) POINT: Note that total revenues is shown in three places in this report: here in the sales analysis, on the income statement, and on the business segment breakdown. In all three places this is the SAME CONCEPT. Yet each has different detailed items aggregating into the total. The relation between the detail and summary information must be created correctly. Variance Analysis The following is an analysis of the variance in gross profit for the period ended December 31, 2010 for actual versus budgeted amounts. Budgeted and variance information is unaudited. For Year Ended December 31, Actual Budgeted Variance Revenues, Net Cost of Sales Gross Profit (Loss) QUESTION: What is the appropriate approach to differentating audited and unaudited information within an XBRL business report? Is there a need to differentiate it?