Calculations 1.1: getting rid of the noise
XBRL Calculations can play an important role in ensuring the quality and accuracy of a financial report, and can flag up errors in both the XBRL tagging and the underlying numbers. Unfortunately, until now, calculation validation reports have been hampered by false positives — validation messages that don’t reflect real issues in the report.
The Calculations 1.1 specification update in February 2023 offers an incremental enhancement to the existing XBRL calculation features and is intended to reduce these false positives. In a blog post this week, we look at a sample of European Single Electronic Format (ESEF) reports to see how effective Calculations 1.1 has been at cleaning up validation reports.
Take a deep dive here.