XBRL-US Domain Working Group

US Financial Reporting Financial Services Terms Taxonomy
Release Date: 2004-08-15

Release Type: Acknowledged, Public Working Draft

###### Summary Taxonomy Information:

Status: | Acknowledged, Public Working Draft
Issued by | XBRL-US
Issued: | 2004-08-15
Name: | US Financial Reporting Financial Services Terms
Description: | This financial reporting taxonomy is intended to provide detail (or primary) level accounting terms that will allow jurisdictional and industry taxonomies to be created that conform to specific accounting standards (such as US GAAP) to tag financial statements.
Namespace identifier: | http://www.xbrl.org/us/fr/common/fst/2004-08-15
Recommended namespace prefix: | usfr-fst
Version of XBRL Used: | XBRL Specification 2.1 dated 2003-12-31 (Recommendation)
Relation to Other XBRL Taxonomies: | This taxonomy is intended to be used by industry taxonomies such as the US GAAP BASI taxonomy, a part of the US Financial Reporting Taxonomy Framework (USFRTF).
Physical Location of Taxonomy Package: | http://www.xbrl.org/us/fr/common/fst/2004-08-15/usfr-fst-2004-08-15.xsd (Schema) http://www.xbrl.org/us/fr/common/fst/2004-08-15/usfr-fst-2004-08-15-reference.xml (Reference linkbase) http://www.xbrl.org/us/fr/common/fst/2004-08-15/usfr-fst-2004-08-15-label.xml (Label linkbase) http://www.xbrl.org/us/fr/common/fst/2004-08-15/usfr-fst-2004-08-15-presentation.xml (Presentation linkbase)

###### XBRL US Domain Working Group Chair:

Campbell Pryde, CPA, KPMG

###### Editors of the Taxonomy (listed alphabetically):

Rob Blake, Aucent

Glen Buter, CPA, BDO Siedman

Eric Cohen, CPA, PricewaterhouseCoopers

Michael Eng CPA, Deloitte & Touche

Walter Hamscher, Standard Advantage

Charlie Hoffman, CPA, UBMatrix

Brad Homer, AICPA

Robert Lembach, CPA, PricewaterhouseCoopers

Sal Mileti, CPA, Ernst & Young

Jeff Naumann, CPA, AICPA

Yossef Newman, CPA, Deloitte & Touche

Paul Penler, CPA, Ernst & Young

Campbell Pryde, CPA, KPMG

Miho Saito, PricewaterhouseCoopers

Brad Saegesser, Moody’s KMV

Matthew Slavin, Ernst & Young

Brian Staples, Bank of America

# Abstract

This Taxonomy Documentation describes the eXtensible Business Reporting Language (XBRL) US Financial Reporting Taxonomy: Financial Services Terms (USFR-FST). The USFR-FST Taxonomy has been prepared by the XBRL-US Domain Working Group, with feedback from other members of XBRL International as well.

This USFR-FST Taxonomy is compliant with the XBRL 2.1 Specification, dated 2003-12-31 and follows the guidance prescribed in the Financial Reporting Taxonomy Architecture 1.0 (FRTA). This taxonomy provides the necessary financial reporting terms to be used by companies across the financial services sector.

This document assumes a general understanding of accounting and XBRL. If the reader desires additional information relating to XBRL, the XBRL International web site (http://www.xbrl.org) is recommended.

Table of Contents

Abstract. 2

1. Public Working Draft - Review Period and Comments. 4

2. Overview.. 4

2.1. Purpose. 4

2.2. Taxonomy Status. 5

2.3. Scope of Taxonomy. 5

3. Overview of Taxonomy. 6

3.1. Taxonomy Structure. 6

3.2. Label Languages. 6

3.3. References. 6

4. Reviewing This Taxonomy. 8

5. Updates and Changes. 8

5.1. Updates to this Taxonomy. 8

# 1. Public Working Draft - Review Period and Comments

The US Financial Reporting Taxonomy Framework (USFRTF) has been released as a Public Working Draft effective September 20, 2004. The public review period will run for 60 days ending November 19, 2004.

Comments and feedback on either accounting concepts within the taxonomy or technical aspects of the US Financial Reporting Taxonomy Framework are welcome, particularly ideas to improve this taxonomy. If you have a comment or wish to report an error, email them on or before November 19, 2004 to Brad Homer (bhomer@aicpa.org).

To assist in the feedback process, a review template has been provided for each taxonomy, these can be found on each individual taxonomy summary page. Other feedback outside of this template will be accepted, however it should be as specific as possible in identifying the taxonomy, elements, links or other details that are being commented on. Feedback received will be summarized and be made available to the XBRL-US Domain Working Group and also publicly.

Detailed responses will not be provided for every comment submitted, however a summary of which feedback has been incorporated will be provided.

# 2. Overview

## 2.1. Purpose

The XBRL-US Domain Working Group is leading the development of this XBRL US Financial Reporting Financial Services Terms (USFR-FST) Taxonomy for the purpose of expressing common financial reporting concepts according to US GAAP/FASB and other related/relevant accounting standards.

This Financial Services Terms (USFR-FST) Taxonomy is designed to facilitate the creation of XBRL industry taxonomies focused on financial reporting. The purpose of the USFR-FST Taxonomy is to provide a framework for the consistent creation of XBRL documents for financial reporting purposes by private sector and public sector entities. The purpose of this and other taxonomies produced using XBRL is to supply a framework that will facilitate data exchange among software applications used by companies and individuals as well as other financial information stakeholders, such as lenders, investors, auditors, attorneys, and regulators.

The authority for this USFR-FST Taxonomy is based upon US Generally Accepted Accounting Principles (GAAP). The development of the taxonomy is based upon input from accounting firms, technology companies and other domain experts in the field of financial reporting. In addition, the specific content of the taxonomy is based upon standards identified by the Financial Accounting Standards Board (FASB) and other related standards organizations.

The particular disclosures in this USFR-FST Taxonomy model are:

1. Required by numerous financial services industries

2. Typically represented in AICPA model financial statements, checklists and guidance materials as provided from each of the major international accounting firms.

3. Found in common reporting practice, or

4. Flow logically from items 1-3, for example, sub-totals and totals.

## 2.2. Taxonomy Status

The USFR-FST Taxonomy is an Acknowledged Public Working Draft. Its content and structure have been reviewed by both accounting and technical teams that comprise XBRL-US and XBRL International. It is intended that the USFR-FST Taxonomy will comply with the Financial Reporting Taxonomy Architecture 1.0 (FRTA) and XBRL Specification Version 2.1.

The XBRL-US Domain Working Group intends to have this taxonomy reach the status of a approved taxonomy under the XBRL Taxonomy Approval Process (TAP) 2004. XBRL Taxonomies can exist in two states insofar as XBRL International TAP is concerned:

- Acknowledged – A royalty-free taxonomy that the creators have asked XBRL International to list at XBRL.org; XBRL International confirms only that the taxonomy is compliant with the XBRL specification and is available free of royalties. This classification indicates to the business user the degree of endorsement by XBRL International.
- Approved – A t axonomy which is technically compliant with XBRL, is available on royalty free terms, follows best practices prescribed by XBRL International (e.g. FRTA) and either has been developed by XBRL International itself or that has followed a public review process similar to XBRL International's own.

## 2.3. Scope of Taxonomy

This USFR-FST Taxonomy is released in conjunction with the Accountants Report (USFR-AR), Management’s Discussion & Analysis (USFR-MDA), Primary Terms (USFR-PT), Financial Services Terms (USFR-FST), Management Report (USFR-MR), and SEC Officers Certification (USFR-SEC-CERT). These taxonomies are all part of the US Financial Reporting Taxonomy Framework, an XBRL taxonomy framework that enables reusability of components and provides the foundation for creating new industry taxonomies (such as Insurance, Banks and Savings Institutions, etc.) going forward.

The USFR-FST Taxonomy is designed solely as a building block portion of the US Financial Reporting Taxonomy Framework. It is not expected that the taxonomy contains sufficient information to be used on its own, rather additional taxonomies are required to fully express how different industries report the concepts included in the USFR-FST taxonomy. These additional taxonomies are likely to identify the particular needs of:

- Specific industries, for example, Commercial & Industrial, Banking & Savings or Insurance.
- National jurisdictions for those companies that require a non-US GAAP standard as the core financial standards setting foundation and may include supplementary reporting requirements or prevent use of available options by local accounting standards setters as well as stock exchanges etc.
- National industry or common practice, for example, tax or credit reporting.
- An individual company

These extension taxonomies will either extend the USFR-FST Taxonomy to meet the particular reporting requirements of that industry, country or company and/or restrict by limiting the use of particular USFR-FST Taxonomy elements.

The inter-relationships of the various taxonomies are show in Figure 1:

Figure 1: Interrelationship of Taxonomies and Instance Document

# 3. Overview of Taxonomy

## 3.1. Taxonomy Structure

The USFR-FST Taxonomy contains over 1,400 unique, individually identified pieces of information related to financial reporting. The USFR-FST linkbases provide the other information necessary to interpret (e.g. Label and reference linkbases) taxonomy elements.

## 3.2. Label Languages

Currently, labels for taxonomy elements are provided in English. In the future, taxonomy labels could be expressed in additional languages as required.

## 3.3. References

This Taxonomy provides references to FASB and other relevant standards. Figure 3 shows an example of the reference elements are used in this taxonomy, using “FASB 142, sub paragraph 23” to illustrate how a reference is matched to these elements:

Figure 3: Reference Naming Structure

Name: | FASB
Number: | 142
Paragraph: |
Subparagraph: | 23
Clause: |

Authoritative reference information used throughout the taxonomy relies on a series of acronyms. The following list provides an overview of the acronyms used commonly throughout the authoritative references:

AICPA

- Accounting Research Bulletin (ARB)
- AICPA Opinion and Interpretation
- Industry Audit and Accounting Guide (AAG)
- Statement of Position (SOP)
- Practice Bulletin (PB)
- AICPA Accounting Interpretation (AIN)
- AICPA Accounting Principles Board Statement
- AICPA Issues Papers
- AICPA Technical Practice Aids (TPA)

FASB

- Accounting Principles Board Opinion (APB)
- Statement of Financial Accounting Standard (FAS)
- FASB Interpretation (FIN)
- FASB Technical Bulletin (FTB)
- Emerging Issues Taskforce (EITF)
- Implementation Guide (Q&A)
- FASB Staff Position (FSP)
- Current Text (CT)
- Accounting Principles Board Statements (APS)
- FASB Financial Accounting Concepts (CON)

SEC

- Regulation S-X (SX)
- Article 9 (ART 9)
- Article 4 (ART 4)
- Regulation S-K (SK)
- Regulation S-B (SB)
- Regulation S-T (ST)
- Staff Accounting Bulletins (SAB)
- Regulation T (Reg T)
- Staff Position (SP)
- Financial Reporting Release (FRR)
- Staff Legal Bulletin (SLB)
- SEC Industry Guide

OTS

- Federal Regulation (FR)

# 4. Reviewing This Taxonomy

There are a number of approaches to reviewing the taxonomy both from an accounting and technical XBRL perspective. For more information on reviewing taxonomies, reviewers should read the Reviewer’s Guide to Financial Reporting Taxonomies 1.0 as published by XBRL-US.

# 5. Updates and Changes

## 5.1. Updates to this Taxonomy

This taxonomy will be updated with revisions for errors and new features within the following guidelines:

· Since financial statements created using a taxonomy must be available indefinitely, the taxonomy must be available indefinitely. All updates will take the form of new versions of the taxonomy with a different date. For example, the taxonomy http://www.xbrl.org/us/fr/common/fst/2004-08-15/usfr-fst-2004-08-15.xsd will never change. New versions will be issued under a different name, such as http://www.xbrl.org/us/fr/common/fst/2004-12-31/usfr-fst-2004-12-31.xsd. This will ensure that any taxonomy created will be available indefinitely.

- It is anticipated that this taxonomy will be updated as required to incorporate changes in generally accepted accounting principles and business reporting norms.