XBRL taxonomy development
Be successful first time when creating new taxonomies
Taxonomies released with fundamental errors or inconsistencies can damage the reputation of the publisher. Releasing a poorly understood taxonomy can lead to confusion among software vendors and filers, hindering take-up and usage. High quality taxonomies are generated when rules and patterns governing the modelling of the data are consistently applied and when the views of the filers are taken into account.
CoreFiling’s taxonomy development solution integrates custom validation and review functionality alongside flexible editing options to support taxonomy authors. It is aimed at business users, not XBRL experts.
- SpiderMonkey is the world’s only XBRL taxonomy editor designed specifically for business users, whether working alone or in extended, distributed teams.
- Yeti combines online reference, review and commenting on XBRL taxonomies to provide an efficient collaborative environment to simplify the task of running an in-depth taxonomy review programme.
- Decimate is a heavy duty continuous testing tool which automates the process of developing, testing and publishing large taxonomies and data models.
Advantages of the CoreFiling solution
- Flexible development – There are no barriers to developing or editing your taxonomy. Changes can be made either by using the SpiderMonkey user interface or by editing text files, according to the preferences of the taxonomy author.
- Controlled changes – Multiple authors can work on taxonomy development at the same time, with enterprise-level source control managing the version tracking, change auditing and seamless resolution of editing conflicts.
- Public review – If you need to open up your taxonomy for review, either internally or externally, Yeti gives a secure review environment that is automatically updated with the latest version of the taxonomy. Authorised reviewers gain access to the taxonomy and comment threads can be created.
- One-click publishing – Publishing final versions of the taxonomy is made easy through automated packaging and hosting of taxonomies, instance samples and documentation.
- Integrated feedback – Review comments are fed back through to taxonomy authors from Yeti allowing issue tracking and documented resolution.
- Automated testing – Automated and continuous testing is run using custom validators and CoreFiling’s Decimate support environment. Test failure warnings generate immediate email alerts allowing issues to be resolved before they become problems.