XBRL Validation - Leveraging the Real Benefit of XBRL

Validation Hierarchy

The power of XBRL Calculations and Formulas
Most introductions to XBRL describe the the standard as data tagging or "bar coding the data."While the description is factual accurate, it doesn't communicate some of the key benefits of using XBRL. XBRL not only provides the tags for the data, it also provides a framework for describing the semantics of the tagged data. The calculation linkbase describes a mathematical relationship between the tagged data. The presentation linkbase describes the order of how the tagged data should be presented. And the formula linkbase provides a powerful framework for describing complex relationships between the tagged items.

Charlie Hoffman, in his blog XBRL Business Information Exchange, demonstrates some of the real benefits of XBRL calculations and formulas when applied to the SEC filings in the following entries:

• Top 10 Errors to Avoid in Creating Your SEC XBRL Filings
• Example of Issues Accountants Will have to Deal With
• XBRL Calculations in SEC XBRL Filings

Edgar Filing Manual Validation is another area where XBRL formulas can provide real benefits in the SEC use case. XBRL formulas can be run against an XBRL instance document and associated taxonomy extensions to verify that the filing conforms to rules in Chapter 6 of the EDGAR filing manual.

To see a demonstration of the power of XBRL calculations and formulas when applied to the most recent SEC filings, click here. To read more about the benefits of validation, click here.