OBJECTIVES OF THE INVITATION TO COMMENT, PROPOSED META MODEL RELATIONSHIPS
The proposed meta model relationships (relationships) are being exposed in the Invitation to Comment, Proposed Meta Model Relationships (ITC), to obtain input on whether meta model relationships have utility in practice.
The existing XBRL relationships provide presentation, syntax, and validation. The proposed meta model relationships would add base level accounting model relationships as described in the ITC.
The objectives of the proposed relationships are to:
- Assist preparers in identifying the proper elements for tagging their filings
- Assist data users in the consumption of data
- Assist in writing business rules that leverage this information to help with proper element selection and identification.
As the meta model is developed, it will be exposed separately from the GAAP Financial Reporting Taxonomy (GRT). Eventually, the FASB plans to publish it in the GRT in a directory named “meta/,” similar to the DQC Rules Taxonomy (DQCRT). As with the DQCRT, the meta model is designed to provide additional information about elements in the GRT without changing the existing structure.
Questions for Respondents and Guidelines for Commenting
The ITC and the questions for respondents are available at the link below.
- Invitation to Comment, Proposed Meta Model Relationships
Additional information about the ITC on proposed meta model relationships is available by listening to the November 2, 2022, webinar titled “FASB Meta Model Invitation to Comment and Proposed Policy Election Element Relationships;” the link to which is provided here.
David M. Shaw