On September 30th we hosted a live tagging webinar together with Gränges AB. During this webinar we received many good questions. Not all were answered during the live session, instead we’ve answered all of them in writing in this post.
Live ESEF Q&A on Friday October 23 10am-12pm (CEST)
After the webinar we sent all registrants a follow up questionnaire where they had the opportunity to tell us what they wanted to know more about in the future. Instead of just sending a written answer, we decided to schedule a CtrlPrint and ESEF live Q&A. There will be no presentations, just questions and answers. For more information see this event page.
Is there anything you would like to know more about regarding ESEF and our solution? Send your question to firstname.lastname@example.org to have it answered during the live Q&A.
Q&A from Live tagging with Gränges
Does it matter which folder the tag is in? Do I need to add every tag from the Income Statement folder to my table?
No, what matters is the accounting meaning and the technical specifications for each tag.
What is "sign logic"? Should I look at sign logic or debit/credit to determine whether it is increase/decrease?
SignLogic is a setting in the tagger that is used to adjust differences between the sign conventions used to display values in human-readable financial reports (PDF or paper) and what is needed to fulfill the specifications of XBRL. To make the correct setting you need to look at both the Balance attribut (Debet/Credit/Unknown) and the SignLogic. This is not always straightforward as you may imagine. We recommend you to watch this video and read this article.
When searching words in Swedish, can one use "Å,Ä,Ö" in the CtrlPrint tagger?
Yes, if you change the taxonomy language to Swedish, you can use Å, Ä and Ö when searching.
If I tag the English version, will it update the Swedish version as well or do I have the do that manually?
If you add a new report and want to move tags to this one, you simply import them via the function ”Import tags” in CtrlPrint. You can find a video tutorial of this here.
Does it matter if one has tagged the English version of the annual report or do companies in Sweden have to use the the Swedish version for filing purpose?
According to the Swedish Annual Accounts Act the Annual Report shall be in Swedish. We are not familiar of the demands of other national legislations. The tags themselves doesn’t have a specific language, and can be reused for another language version. Since the translations of the standard taxonomy to non-English has room for improvement, most non-English language entities use translated version to do the mapping and after that apply the tags to the national language version.
When taggin the Income statement, do I need to tag using tags from the Notes folder (820000 I think) or the Income Statement (320000 I think)?
Tagging the Consolidated Income statement will mostly be done with tags in the folders 310000 (function of expense format) or 320000 (nature of expense format) as well as 800200 (analysis of income and expense). There are however other folders that are applicable for tagging the Income Statement. The folders themselves are not crucial in the selection of tags, it is always the accounting meaning of a tag, it’s references to IAS/IFRS, attributes (balance, period type, data type) and consistency with related items. For more information please see the recording and presentation found here.
Can I apply multiple tags to a cell?
As a basic rule, the answer is no, you can’t apply multiple tags to a value. This is referring to the type of tag called ”Line Item”, which is the type of tag applied to a ”row value” in a table. To elaborate the answer a little bit, it is possible to apply a different type of tag together with a ”Line Item” tag, a ”Member” type tag, which is a type of tag that can be used to differentiate the value. The most straightforward example being the Statement of Changes in Equity, where the different categories of Equity are tagged with a ”Member”. Please see this video for more information.
Can I use a Swedish version of our report but do the searching for tags in English?
Yes, you can tag the Swedish report and change the taxonomy language to English in the tagger. This way you can search in English.
How do you do with the totals in the income statement when you can't find a suitable total name?
If you have a subtotal without a description in your statement, then you do as in the example from the webinar with Gränges (58 minutes and 7 seconds into the video). If you have a description and you can’t find a core taxonomy element then you can create an extension that doesn’t need anchoring. Also very close to the example from the webinar.
Can you have credit in one year/column and debit in the other one? See row "Change in hedging..." in the example (from the webinar)
No, you can’t change the Balance attribute of standard tags. In this case you use the SignLogic settings to make the value appear in the correct way in the XBRL. SignLogic can be set differently to different years.
If I tag 2019, will it autotag the same tags for 2020?
The tags used for previous year can be imported to documents for the new year. You don’t have to redo your tagging each year.
What does the red triangle mean in some squares?
The red triangles are validation indicators. Not all validation indicators means that there is an error, it can also be information on different statuses and so on. If you right click in on a validation indicator, you can choose to see the validation message.
Shall you tagg a sub total like EBITA?
Yes, all numbers in a declared currency disclosed in the consolidated financial statements shall be tagged.
Do you have to add calculations to every cell?
No, you don’t have to add calculations to every cell. There are limitations in the XBRL language which makes it impossible for you to add calculations to everything.
The only situation where you actually have to add it is when you create the subtotal without anchors.
How correct is the translation to Swedish?
It’s hard to answer specifically, but it has a lot of flaws, and it’s incomplete, which makes it hard to use. That’s why we recommend our users to start with their English version, if they produce one. We don’t know exactly how accurate the other translations are, but they seem to be unfinished too.
If the materiality differs current year compared to previous year, can the tags be different for the same line?
Yes you can have different tags for different years.
What to do with long names that comes on more than one row?
If a post in your financial statements, spans over more than one row, it gets divided into different cells in the tagger. If you create an extension for a post that looks like this, the extension label will be cut off, and only the text from one of the cells will be used as the label name. To solve this you can change the label name by going to to Taxonomy Extension properties and click on the label name to edit.
We do not have start and end of period for equity to choose between. The same for Cash Flow.
To change the start and end period for a tag you click on a cell where this tag is applied. Them go to Table cell properties in the bottom right section of the tagger. If you scroll down in this section you will find where to change the dates.
Since notes is not tagged, is the official document only including the statements?
You need to send the entire Annual Report in the new ESEF format, not just the tagged parts. What is filed is not changed, only the format – from PDF to ESEF (XHTML with some parts tagged with iXBRL).
Will the auditors use the same tool to audit the ESEF and annual report?
If you mean the CtrlPrint ESEF reporting-tool, the auditors will most likely not use the same one. There are other tools designed for auditors, where they can review the tags without having the option to change them.
UK FCA have proposed to delay the implementation of ESEF to 2021, are you aware if a decision has been made on this?
Although there is a corridor talk that ESEF will be postponed, there is no official answer from the FCA as yet, so it could go either way. We are expecting an official answer mid-November
As about 80-90% of the accounts in the financial reports are the same for many companies. Can we get a tagged example?
They might look like they are the same, just by looking at them. But when digging into them or looking at the notes or the accounting meaning, it might not actually be the same. Most companies in Sweden for example, will have ‘revenue’ as the first line item in the profit and loss, but there are 40 different tags for revenue. So you need to look at the accounting meaning in each company’s line item. If you want to see an example of a report that is tagged according to ESEF, please see GLEIF’s annual report here.