How to publish a Taxonomy? What are Taxonomy Packages?
Taxonomy is at the heart of an XBRL program, publishing taxonomies for stakeholder consumption needs to be given a careful thought. Guidance note now is available for taxonomy owners.
The Best Practices Board’s Implementation Guidance Task Force have come-up with guidance for the right way of publishing a taxonomy and business-friendly explanation of Taxonomy Packages Specification used for publishing taxonomy.
A taxonomy owner needs to publish sufficient guidance documentation around the taxonomy and how to use it in order to facilitate adoption and reporting by preparers. Documentation should be made available by taxonomy owners for preparers and software companies looking to support the reporting process using the taxonomy. The guidance document Taxonomy Publication and accompanying Documentation describes recommended practices for publishing XBRL taxonomies, focusing on the guidance information that should be provided as part of a taxonomy package.
Taxonomy Packages Specification helps taxonomy author to publish taxonomies with standard meta data and enables offline consumption. The Practice Profile: Taxonomy Packages explains key features available in the specification and is targeted towards audience seeking a basic understanding of this technical specification.
XBRL International acknowledges the contribution of Carol Baskey, Shilpa Dhobale, Kathryn Dobinson, Pierre Hamon, Ian Hicks, Revathy Ramanan and Paul Warren towards producing these guidance.