Precision
Precision (also referred to as decimals attribute) defines to what digit the value is rounded in the instance document. The precision function in DM WordDisclosure Management platform for Microsoft Word is used to apply the appropriate decimals attribute. The decimals attribute is part of the XBRLExtensible Business Reporting Language (XBRL) is an XML-based standard for defining and exchanging business and financial performance information. specification and is represented as its own attribute in the instance document of the filing package. For example, a rounded value of $1,000 with a decimals attribute of -3 means the value could range from $500 to $1,499.
Decimals Attribute: EFM Reference
From the EDGARElectronic Data Gathering, Analysis, and Retrieval (EDGAR), is a SEC system used by public companies to transmit filings of annual and quarterly reports and other disclosures. Filing Manual (“EFMThe EDGAR Filer Manual (EFM) is a reference document for submitting filings to the SEC via EDGAR. It includes XBRL rules and is updated annually.”):
"6.6.32 The value of the decimals attribute of a fact must correspond to the accuracy of the corresponding amount as reported in the official HTML/ASCII document.
The decimals attribute influences how numbers are interpreted in XBRL and any value for the decimals attribute other than the value INF implies rounding or truncation. Use the following table to select the correct value of the decimals attribute for a fact so that it corresponds to the value as presented (most often rounded) on the corresponding official HTML/ASCII document.
|
Accuracy of the amount as shown in official HTML/ASCII document |
Value of decimals attribute |
|---|---|
| Exact monetary, percentage, basis point or any other amount | INF |
| Rounded to billions | -9 |
| Rounded to millions | -6 |
| Rounded to thousands | -3 |
| Rounded to units | 0 |
| Rounded to cents | 2 |
| Rounded to a whole percentage | 2 |
| Rounded to basis points | 4 |
Examples:
|
Fact |
Value |
Value of decimals attribute |
|---|---|---|
| A federal tax rate of (exactly) 46% | .46 | INF |
| An management fee of (exactly) 10 basis points | .001 | INF |
| A (rounded) profit margin of 9.3% | .093 | 3 |
| A (rounded) change in NAV of 12 basis points | .0012 | 4 |
| A (rounded) inventory “in thousands” of 100 | 100000 | -3 |
| A (rounded) inventory “in thousands” of 100.2 | 100200 | -2 |
The decimals attribute is not a scale factor.
The decimals attribute is not a formatting code; it does not indicate that the digits in the instance must subsequently be presented to a user in any particular way."
Additional Examples
|
Fact |
Value |
Value of decimals attribute |
|---|---|---|
| A (rounded) asset "in millions" of 314 | 314000000 | -6 |
| A (rounded) cash "in millions" of 251.6 | 251600000 | -5 |
| A (rounded) cash of 225,564 | 225564 | 0 |
| A (rounded) liability of 336,000 | 336,000 | -3 |
| An (exact) amount of shares outstanding of 45,450,625 | 45450625 | INF |
| A (rounded) tax rate of 26% | .26 | 2 |
| A (rounded) accounts receivable “in thousands” of 224.3 | 224300 | -2 |
| A (rounded) earnings per share of 3.52 | 3.52 | 2 |
More Precise Value of a Fact
From the EDGAR filer manual:
"6.5.12 An instance must not have more than one fact having the same elementThe representation of a financial reporting concept, including: line items in the face of the financial statements, important narrative disclosures, and rows and columns in tables. name, equal contextRef attributes, and if they are present, equal unitRef attributes and xml:lang attributes, respectively, unless their fact values are the same."
Therefore, if a concept is reported more precisely on the financial statements than it is in the footnotes or vice versa, only the more precise value is included in the XBRL instance document. Furthermore, the rule states the that any calculation inconsistencies that result from adhering to this rule should be ignored.
Next: Units of Measure
Copyright © 2021 Certent