I looking to implement the Expended Universal COA with XBRL.
I'm pretty new to this and I'm having difficulties wrapping my head around how this COA work, even after many hours of studying it and researching the web.
Can someone helps me or point to some documentation on the following topics?
1) Expanded Accounts
The way I understand expanded accounts is that some accounts are separated into multiple accounts all on the same depth.
Why not indent the expended accounts 1 lvl down and why this difference in behaviour vs normal accounts?.
Why is there a need for expanded accounts? (IFRS and/or US GAAP requirement? need for more refinement?)
Do expanded accounts behave differently (except for indenting) than normal accounts or they are exactly the same?
How do the expanded accounts interact with accounts of lower lvl, should I not consider them when looking at the three structures?
Precision on Expanded Accounts #
Please define these terms and explain in which context to use them:
Additional Attribute (";")
Attount # Expanded Account # Depth Balance Line #
220.127.116.11.1 18.104.22.168.1 ; 2 / 0 - 0 4 Dr 82 What does the 0 point to?
22.214.171.124.1 126.96.36.199.1 ; 2 / 1 - 0 4 Dr 83 What does the 1 point to?
188.8.131.52.1 184.108.40.206.1 ; 2 / 5 - 0 4 Dr 84 What does the 5 point to?
220.127.116.11.1 18.104.22.168.1 ; 2 / (5.3) - 0 4 (Cr) 85 What does the (5.3) point to?
22.214.171.124.1 126.96.36.199.1 ; 2 / 4 - 0 4 Dr 86 What does the 4 point to?
188.8.131.52.1 184.108.40.206.1 ; 2 / (4) - 0 4 (Cr) 87 What does the (4) point to?
220.127.116.11.1 18.104.22.168.1 ; 2 / 7 or (7) - 0 4 Dr or (Cr) 88 What does the 7 or (7) point to?
Additional attribute numbering seems to be sequential but what is the logic behind the numbering of the adjustment accounts?
2) IFRS & US GAAP cohabitation
If I want to follow both IFRS and US GAAP can this chart off account enable both implicitly or do I need to pick one standard and change it as needed?
Should the IASB (XBLR) accounts not be included for US GAAP and FASB (XBLR) accounts not included for IFRS?
Do I need to use the Expended XBRL version of the COA to be compliant with the IFRS and/or US GAAP or the Advance version could do the work?
3) Nature & Function
How to deal with Nature & Function in expenses accounts, how can a transaction be in a nature account and a function account at the same time?
Is it possible to have this implicitly of it has to be changed as needed?
Hopefully, my questions are not too basic and this topic will end up being usefull to others.
Looking forward to your answer.