New XBRL Formula functions reach Recommendation status
The XBRL Standards Board has approved the publication of an update to the XBRL Formula Functions Registry. This update includes the addition of new draft functions to support the planned adoption of xBRL-CSV by a number of regulators around the world. xBRL-CSV is a highly useful format for organisations with a need to collect large amounts of granular data. We are grateful to ABZ Reporting, Arelle and Amana for their work in providing the early implementations needed to progress these functions to recommendation status.
Now that the functions are finalised, we expect to see existing taxonomies migrating to use them in the near future, in order to support a seamless enablement of xBRL-CSV based filing channels in due course. We’d encourage software vendors with an XBRL Formula processor to plan implementation of these functions, and taxonomy owners to review the applicability of these functions to their taxonomies.
The new functions are intended to support the processing of XBRL Formula Rules without access to an XBRL report in its traditional, XML-based syntax. You can read more about this effort and why it’s important in this blog post by our Technical Director, Paul Warren.
Access the Functions Registry here.