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Altova XMLSpy 2020 Enterprise Edition

A new taxonomy would typically be created to extend one or more standard taxonomies. If a new taxonomy builds upon a standard taxonomy or an already existing taxonomy, it must import the existing taxonomy. Alternatively, a new taxonomy can be built from scratch. In XMLSpy's XBRL View, you can easily import US-GAAP and IFRS taxonomies using the New Taxonomy Wizard. The taxonomy can then be modified using the graphical interface of XBRL View.

 

The first step in creating a new taxonomy is to create its concept definitions file, which is an XML Schema (.xsd) file. Besides containing concept definitions, this file defines and declares the namespace of the new taxonomy, locates taxonomies to be imported, locates the relationships files of the taxonomy, and declares the namespace of imported taxonomies and other namespaces used.

 

Creating the concept definitions file

To create a new XBRL taxonomy, select the menu command File | New. This pops up the Create a New Document dialog (screenshot below).

XBRLFileNew

Select xsd: XBRL Taxonomy Schema and then click OK. This pops up the first screen of the New Taxonomy Wizard (screenshot below).

XBRLNewTaxonWizard1

The New Taxonomy Wizard helps you create XBRL taxonomies that are conformant with US-GAAP and IFRS requirements. Essentially it imports the taxonomies you specify. Subsequently, the file can be edited as required.

 

In the first dialog of the wizard, enter the following:

 

The ticker symbol (or name) of the company for which the taxonomy is being created. Listed companies typically have a unique ticker symbol, and a number of important taxonomy properties and components will be named on the basis of the ticker symbol you enter. For example, the ticker symbol you enter in the Ticker Name field will be used to automatically generate the taxonomy namespace and the names of the taxonomy's relationship files (see screenshot above). If the company has no ticker symbol, you can enter in this field the name of the company for which you are creating this taxonomy.

The taxonomy base. Options are: US-GAAP taxonomies, IFRS, and None. The taxonomy that you select in this combo box will form the base of your taxonomy. The next dialog that the wizard displays will depend on what taxonomy base you select. The various taxonomy bases are explained in the description of the second screen of the wizard.

The date. This can either be entered directly or be selected via a date-picker available in the dropdown of the combo box. The date, like the ticker symbol, will be used to generate the taxonomy namespace and the names of the taxonomy's relationship files.

The destination folder is the location where the main taxonomy file and associated files will be saved.

The taxonomy namespace (target namespace of the main taxonomy concepts file, which is a .xsd file) and the names of the concept definitions file (Schema File) and relationship files are generated automatically from: (i) the ticker symbol (or company name) and (ii) the date. If you try to edit any of these, you will receive a warning to the effect that changing the values in these fields would lead to non-conformance with the rules of the relevant taxonomy.

 

After you have finished, click Next. The dialog that is displayed next depends on what you selected as the base for your taxonomy. There are three possibilities:

 

If you selected a US-GAAP taxonomy, then the US-GAAP-specific second screen of the New Taxonomy Wizard appears (screenshot below). You can now select the entry points you wish to include in the taxonomy, as well as specify whether the US-GAAP Core Schema should be imported (check box at the bottom of the dialog).  

XBRLNewTaxonWizard2

When you click Finish, a new concept definitions (.xsd) file that imports the selected entry-point schemas is created in the destination folder you specified in the wizard. The taxonomy opens in XBRL View and is ready to be edited.

 

If you selected IFRS as the base for your taxonomy, the IFRS-specific second screen of the New Taxonomy Wizard appears (screenshot below). Select the entry-point schema option you want and click Finish.

XBRLNewTaxonWizard3ifrs

When you click Finish, a new concept definitions (.xsd) file that imports the selected entry-point schema is created in the destination folder you specified in the wizard. The taxonomy opens in XBRL View and is ready to be edited.

 

If you selected None (that is, no base taxonomy), a new concept definitions (.xsd) file is created in the destination folder you specified in the wizard and opens in XBRL View. Notice that two elements (xbrldt:hypercube and xbrldt:dimension) are automatically created and that the basic schemas required for every taxonomy have been imported automatically (see Overview entry helper).

 

After you have created your base taxonomy, the next steps are: (i) to create a namespace for the taxonomy (the target namespace of the schema); and (ii) to import the taxonomy or taxonomies on which the new taxonomy is to be built. If you have used the New Taxonomy Wizard, a default taxonomy namespace will have been created and the relevant taxonomies will have been imported.

 

Example file: Step 1

Create a new taxonomy document using the New Taxonomy Wizard as described above (using US-GAAP 2011 as the base taxonomy and importing the US-GAAP 2011 Core Schema), and save the taxonomy with any name to a suitable location. This file is the main taxonomy file, or concept definitions file. It is an XML Schema file and must have a .xsd file extension. We will refer to the file we are creating as Nanonull.xsd. This is the same name as that of the supplied example in C:\Documents and Settings\<username>\My Documents\Altova\XMLSpy2020\Examples\XBRLExamples\Nanonull. We have also simplified the names of the relationship files by leaving out the date-generated part of their names.

 

In the next step we will modify the target namespace of the taxonomy that was automatically created by the New Taxonomy Wizard.

 

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