Core Elements of Financial Statements (FRF for SMEs™)

The elements of financial statements are the building blocks with which financial statements are constructed; the classes of items that financial statements comprise. The items in the financial statements of an economic entity represent in words and numbers certain entity resources, claims to those resources, and the effects of transactions and other events and circumstances that result in changes in those resources and claims.

These classes of building blocks are intentionally interrelated mathematically within the four core statements that make up a financial report; this is called 'articulation'. Intermediate components, i.e. subtotals, can be used to represent the items of an economic entity within a financial report. However, these intermediate components and the items must fit into the core framework of the elements of a financial report.

This page sumarizes information related to the core elements of a financial statement for this reporting scheme.

Why is this important? See this document.

Summary

• Overview: (Human | Machine) This is an XBRL taxonomy that shows the terms, associations between terms, basic assertions of the reporting scheme.
• Terms: (Human | Machine) These are the terms.
• Associations: (Human | Machine) These are the associations.
• Assertions: (Human | Machine) These are the assertions.
• Facts: (Human | Machine) These are the facts.

XBRL files

• XBRL instance (Raw XBRL)
• Inline XBRL (auto generated)
• Human Readable (review tool)
• XBRL presentation relations
• XBRL calculation relations
• XBRL references
• XBRL labels
• XBRL formulas
• XBRL definition relations mapping to accounting equation