Level 4: Machine readable, global standard syntax, structured for meaning, with taxonomy (a.k.a. dictionary), COMPLETE set of rules provided, INCOMPLETE high-level report model.

A LEVEL 4 financial report is READABLE by computer but not understandable by computer and the information is structured for meaning and a "dictionary" (a.k.a. taxonomy, schema, ontology) is provided; rules are provided so information quality is improved; a nonstandard high-level report model is provided. But because structures can be modified but there are no structure control mechanisms, errors can creep in to report due report configurations that are not permissable or perhaps even logical.

Files

VALIDATION

BOTTOM LINE: Information is readable but information FAR LESS LIKELY to contain mathematical errors because machine readable rules are provided to VERIFY that report is mathematically correct. HOWEVER, there could still be errors! If concepts are reversed, if an incorrect concept is used to report a fact, and in other situations the MATHEMATICAL verification will report that the information in mathematically consistent, but the concepts USED to report the facts are wrong. See this Extraction of information is also challenging, those creating extraction algorithms must also create the metadata necessary to effectively extract report information.

Last updated: 2/14/2021 4:11:22 PM

Public Domain