Extension Taxonomy Overview

An extension taxonomy is an extension of a base taxonomy that includes all the changes that are required for the specific reporting requirements of an entity. When you are working with an extension taxonomy in the CDM Extension Taxonomy Editor, it is helpful to follow some best practices.

When you work with extension taxonomies, use the following best practices:

• Focus on the mapping and extension taxonomy. Element selection documentation and a well-crafted custom company taxonomy greatly simplify the process of creating an XBRL document.
• Stick to the workflow. Do not try to build the company taxonomy on your own.
• Create new relationship groups. New relationship groups for your company financial statements, each disclosure, and each parenthetical provide a taxonomy that is easier to work with and validate.
• Use existing elements. You can use elements from the XBRL US GAAP taxonomies if they represent the appropriate financial concept, regardless of its location.
• Create company standard labels for all elements. Use terse labels, where needed, for repeating captions. Labels must correspond to your print report.
• Validate early and often. If you do not validate often, errors accumulate and become harder to diagnose.

For how to create or edit an extension taxonomy, see Extension Taxonomy Process Overview.