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Taxonomy Versioning

Taxonomy Versioning

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Taxonomy Versioning

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Presentation Transcript

  1. Taxonomy Versioning • December 6th, 2006 • 9:30am EST • Mark Montoya • Federal Deposit Insurance Corporation • (FDIC)

  2. What is Taxonomy Versioning? • • Ability to identify changes in taxonomy content • - Technical • - Business • • Different levels of complexity • - Taxonomy design • - Intended audience

  3. What is the big deal? • • Financial Terms • - Maintenance through time • - Taxonomy maintenance though time • • Financial Reporting • - Amendments to reported data • - Instance document maintenance through time

  4. Main Presentation • • Taxonomy Designs • Open vs. Closed • • Versioning Concerns • Dependence on implementation • • FDIC Implementation • Proprietary solution • • Resolution • Yes

  5. Taxonomy Designs • • Open and Closed • - Taxonomy extensions • - Controlled collection • • Superset and Subset • - Maintenance through time • - Different financial reporting cycles

  6. Versioning Concerns • Versioning Systems Internal tracking only • Data Exchange Common Agreement? • Financial Reporting Not “static”; Does change

  7. Implementation at FDIC • Three Levels Proprietary • Subsets Based on a calendar quarter • Issues - Publication - Communication - Technical vs Business

  8. Implementation at FDIC (resolution) • Test Environment - Intermediate taxonomy releases - Comment period - Comparison Report • Communication - Business process - RSS feed - Conference calls • Technical vs Business “a fine line, but is manageable”

  9. Summary • Taxonomy Design ...will determine taxonomy versioning • Versioning concerns ...are manageable • FDIC provided a solution ...that works for our needs ...but ...

  10. Addressing taxonomy versioning at FDIC • Meta data file XML document to include versioning information • Taxonomy versioning level Move from presentation to financial term level • Intermediate taxonomies publish interim before final

  11. Closure? Should XBRL International develop additional guidance on taxonomy versioning? Or Should taxonomy versioning be a software vendor solution?

  12. Mark Montoya • XBRL Specialist for the FDIC • Division of Insurance and Research • Central Data Repository (CDR) project • email - mmontoya@fdic.gov • office - (1) 202-898-3829