Taxonomy
What is a taxonomy?
A taxonomy is a collection of tags. The taxonomies are issued by The FRC - Financial Reporting Council. The taxonomy panel is located on the right-hand side of the main work area. Below is an example, the taxonomy FRS-102-DPL-2019-01-01.
A tag is a label attached to someone or something in the accounts for identification or to give other information.
A tag may contain a date context associated with it. The date context can either be of type duration that covers the period of the accounts, e.g. turnover; or of type instant that relates to a point in time, the start or end of the accounting period, e.g. stock at the year end.
At the foot of the taxonomy (in green below) is a date context drop down list that allows you to select that which is appropriate to the tag to be applied.
Tags may also contain dimensions (in red below), which are labels used for further analysis of a tag, below the date context drop down list there is a tab which shows the dimensions.
The taxonomy is set out in a logical order with the tags list shown in the order in which you would expect to find the corresponding item in the accounts.
It is also possible to search for a tag by name and to expand and collapse all folders in the taxonomy list.
Tags and Tag icons
The taxonomy comprises the following tags types, shown with the icon used to depict them:
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Text tags are intended to be applied to textual data. They are represented by a circle containing the letter “T”. If the circle is blue then the tag is a standard tag, if it is purple then the tag forms part of a grouping. The small “d” to the right of the circle indicates that this tag has a date type of duration. |
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Numeric tags are intended to be applied to numeric data. In this case the circle, blue or purple, contains the letter “N”. A small “d” to the right of the tag indicates the tag has a date type of duration, e.g. a figure that covers the whole period, such as Turnover.
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If a Numeric tag has a small “i” to the left of the tag then the date is of type instant. These are used for figures at a specific point in time such as Stock at the end of the year.
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Date tags are intended to be used to tag dates in accounts. Represented by a blue or purple circle containing the letter “D”, they can also have duration or instant date types. |
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Percentage tags are to be applied to percentage figures. Represented by a blue or purple circle containing the letter “P”, percentages have date types of instant. |
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Enumerated tags are applied to text in the document but their value is not drawn from the highlighted text. It is selected from a fixed list of allowable values. |
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Fixed tags are applied to text in the document but their value is not drawn from the highlighted text. The data for the tag is set in the dimensions selected.
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Boolean tags are applied to text in the document but their value is not drawn from the highlighted text. It is selected from a fixed list of allowable values as for Enumerated tags. In this case the only allowable values are True or False.
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Share tags are applied to any share numbers disclosed in the accounts. |
| Three other icons, overlaid on the tag icons, indicate if a tag has been used in the document: | |
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A blue tick indicates the tag has been used in the current year. |
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A green tick indicates the tag has been used in the prior year.
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A double tick, green and blue, indicates that the tag has been used in both years. |
Cross references in taxonomy
Some taxonomies include cross reference tags which refer to other related areas of the taxonomy where further tags may be found that could relate to area you are tagging. These are presented in the taxonomy tree as hyperlinks which, when clicked, will reposition the taxonomy display to show the section of the taxonomy referred to.
Tag properties
The Taxonomy panel also contains a Tag properties panel that is optional and shows the properties relating to the tag that is currently selected in the taxonomy list.
To toggle the visibility of this panel, select Toggle Tag Properties from the Layout group in the ribbon bar.
2022 Taxonomies - Implemented
The following taxonomies have been implemented for 2022:
- FRC-2022-Taxonomy-v1-0-0,
- Charities-2022-Taxonomy-v1-0-0 and
- Ireland-FRS-2022-Taxonomy-v1-0-0.
In addition to base taxonomies, HMRC’s Detailed Profit & Loss (DPL) taxonomy and SECR taxonomy have been incorporated into the main body of the FRC suite.
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Sr. No |
Name of the Taxonomy |
Displayed as |
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FRS-102-2022-01-01 |
FRS-102-DPL-SECR-2022-01-01 |
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FRS-101-2022-01-01 |
FRS-101-DPL-SECR-2022-01-01 |
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FULL-IFRS-2022-01-01 |
FULL-IFRS-DPL-SECR-2022-01-01 |
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CHAR-FRS102-2022-01-01 |
CHAR-FRS102-2022-01-01 |
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IE-FRS-102-2022-01-01 |
IE-FRS-102-DPL-2022-01-01 |
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IE-FRS-101-2022-01-01 |
IE-FRS-101-DPL-2022-01-01 |
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IE-IFRS-2022-01-01 |
IE-IFRS-DPL-2022-01-01 |
The new taxonomies are selected from Document Information screen:
Details of acceptance dates for the new and prior taxonomies as per the HMRC website are as follows:
