Susan, can filers use an element of any “item type” to tag the significant accounting policies?
(Slide 34) No, filers should only use text-block type elements for tagging Level I footnotes, Level II significant accounting policies, and Level III tables. The only time you’re going to use a string-type element is if you’re choosing to tag narrative text in Level IV tagging. 25. A filer includes a separate footnote called “Significant Accounting Policies.” The filer also describes certain other accounting policies in other detailed footnotes, such as, for example, it discloses that “PP&E is stated at cost” in the PP&E footnote. How should a filer consider this in complying with the Level II tagging requirement? If a filer has a footnote designated for “significant accounting policies,” and in-fact it includes all significant accounting policies, your Level II tagging would consist of tagging the individual policies just in that footnote. If you have other accounting policies in other footnotes that you’d like to tag, those would fall under the optional Level IV tagging for narrative
Related Questions
- If an enterprise concludes that it has no significant accounting policy changes on adoption of accounting standards for private enterprises, what sort of disclosure should it make on adoption?
- Where do I find a summary of Intelsats significant accounting policies?
- How can accounting policies and procedures protect my business?
