CCH ixbrl Review & Tag Release Notes

Transcription

1 CCH ixbrl Review & Tag Release Notes

2 Legal Notice Disclaimer Wolters Kluwer (UK) Limited has made every effort to ensure the accuracy and completeness of these Release Notes. However, Wolters Kluwer (UK) Limited, its staff and agents will not be liable for any errors or omissions and use of the software is subject to the customer s licence with Wolters Kluwer (UK) Limited. These Release Notes should not be relied upon as a detailed specification of the system or the software. Wolters Kluwer (UK) Limited may make changes to these Release Notes from time to time. Copyright These Release Notes may not be copied, altered, edited, disposed of or distributed without the prior consent of Wolters Kluwer (UK) Limited. The content is confidential. Unless indicated otherwise all elements of this software product are owned by Wolters Kluwer (UK) Ltd Wolters Kluwer (UK) Limited Trademark Rights Microsoft, Windows, Windows NT, Windows for Workgroups, Windows 98, 2000, XP, MS- DOS, Windows Vista, Windows 7, Windows 8, Windows 10, Windows Server, Microsoft SQL Server, and Microsoft Office, are either registered trademarks or trademarks of Microsoft Corporation. Novell and NetWare are trademarks of Novell Inc. Citrix MetaFrame is a registered trademark or trademarks of Citrix Systems, Inc. All rights reserved. All other trademarks are the property of their respective owners. Wolters Kluwer (UK) Limited 145 London Road, Kingston Upon Thames, Surrey KT2 6SR JULY 2017 II

3 Contents Release Highlights 1 Prerequisites 1 1. Compliance Updates Electronic Submissions of Accounts to Companies House 2 2. Software Enhancements Update to ixbrl v1.1 standard 8 3. Quality Improvements 9 4. Known Issues FRS105 Limited Companies ixbrl Tagging ixbrl Tagging in Accounts Production FRS IFRS/FRS101 Companies House filing with Detailed Profit and Loss Account taxonomy Appendix Appendix 2 19 III JULY 2017

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5 Release Highlights This release of CCH ixbrl Review & Tag contains a number of enhancements and quality improvements. Prerequisites For sites with CCH Central Installing CCH ixbrl Review & Tag This release is installed using the Central Suite Installer. This ensures that all prerequisites are in place and that all the products for which you are licenced are installed in the correct sequence. You can find out more about the Central Suite Installer here: If you have installed Review &Tag on workstations, these will be automatically updated the first time that you launch the workstation instance of the software while connected to the network. Please refer to the CSI installation instructions for more information. For non CCH Central sites If you are not a Central user you should use the standalone installer. This will need to be run on each computer on which Review & Tag is installed. Please refer to the separate installation instructions for details JULY 2017

6 1. Compliance Updates 1.1 Electronic Submissions of Accounts to Companies House Following recent changes to Companies House online filing arrangements Review & Tag has been enhanced to provide the ability to file accounts electronically for the following entity types. a) Group Accounts b) Audited Abridged Accounts c) Small Companies Reduced Filing - Unaudited Group Accounts To enable this facility it is important that the Entity type is set to the correct option in the Document Information Screen. The exception report has been updated to include the associated online filing requirements. For accounts commencing on or after 17 th June 2016 exported from Accounts Production there will be additional exceptions to clear for the updated Auditors Report the tags required are stated below JULY

7 For documents imported from Word/Excel For group accounts the following additional tags are required. Scope of Accounts This must be tagged on the face of the accounts or within other data. The Dimension will need to be set to Consolidated group and company accounts or Group accounts only. Where the accounts contain a consolidated and company Balance Sheet both the dates of these balance sheets will need to be tagged with the Date of Balance sheet tag and the necessary dimension applied. For the full information on tagging and disclosure requirements for online submissions of Group accounts please refer to Appendix 1 of this document JULY 2017

8 Audited Abridged Accounts To enable this facility it is important that the Entity type is set to the correct option in the Document Information Screen. Ensure that the following tags are set correctly within other data JULY

9 The exception report has been updated to include the associated online filing requirements. For accounts commencing on or after 17 th June 2016 exported from Accounts Production there will be additional exceptions to clear for the updated Auditors Report the tags required are stated below. For documents imported from Word/Excel For the full information on tagging and disclosure requirements for online submissions of Audited Abridged accounts please refer to Appendix 2 of this document. Small Companies Reduced Filing (Unaudited accounts only) To enable this facility it is important that the Entity type is set to the correct option in the Document Information Screen JULY 2017

10 For accounts that are being submitted using the small companies reduced filing option an additional step will be required prior to filing. The accounts need to be identified as small companies regime. Apply the tag Applicable Legislation to the Other Data box. Set the dimension value to Small Companies Regime for Accounts JULY

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12 2. Software Enhancements 2.1 Update to ixbrl v1.1 standard ixbrl Review & Tag has been updated to use the ixbrl v1.1 specification. The main changes are within the HTML output file. The only visible change to the tagging process is the ability to tag numeric items with multiple tags. Historically these were added to the other data section but now can apply multiple numeric tags straight onto the face of the accounts JULY

13 3. Quality Improvements Entity officer dimension exception moved to HMRC tab Companies House validation checks no longer test for the dimension validation of Name of Entity Officer. This ensures that where a Directors Report or Information Page is not included within the accounts no cross validation is required for the Name of Entity officer against the Director signing the Accounts. This exception is now included within the HMRC tab rather than the General XBRL Errors tab JULY 2017

14 4. Known Issues 1. FRS105 Limited Companies ixbrl Tagging Please note that if you choose not to file the Directors Report at Companies House, when using CCH Review & Tag a validation error will be displayed. Simple steps to resolving this are: Missing mandatory tag Description of Principal Activities : 1. Double click the error message to open the Taxonomy panel 2. Untick minimum tagging list to reveal the specific tag you need to apply 3. Click the Other Data option in the Ribbon to display the Other Data panel 4. Left click and drag the tag from the Taxonomy panel onto the Other Data panel, and drop the tag to add a row to the grid 5. Fill in the Value as required 2. ixbrl Tagging in Accounts Production FRS JULY

15 A. Operating Profit Note - ITS/56552 The line item for Operating Lease Charges currently has the tag applied for Interest expense on obligations under finance leases and hire purchase contracts these items should be replaced with the tag for Total operating lease payments as follows: 1. Double click on the Exception Report and select the first line which will go to the Operating Profit Note and the Operating Lease Charge line. 2. On the Operating Expense Line for both Current and Comparative years, right click and Delete the tag 3. Find the Total Operating lease payments Tag on the Taxonomy List JULY 2017

16 4. Drag and drop the tag onto the Totals for Current and Comparative Years 5. This will then correct the issue. B. Provisions for Liabilities Note ITS/56551 The total figures on the Provisions for Liabilities note are currently tagged with the Equity tag. These totals should be replaced with the tag for Provisions as follows: 1. Double click on the Exception Report for Equity and go to the second line of the error which will go to the Provisions for Liabilities note. 2. On the Total Line for both Current and Comparative years, right click and Delete the tag 3. Find the Provisions Tag on the Taxonomy List JULY

17 4. Drag and drop the tag onto the Totals for Current and Comparative Years 5. This will then correct the issue. C. Loans and Overdrafts Note ITS/56553 Where this note shows the breakdown between Payable within / after one year, these figures have the tag applied Bank Borrowings and Overdrafts and the tag that should be applied is Total borrowings. They also require an additional Financial Instruments current and non-current dimensions applied as follows: JULY 2017

18 1. Click on the Payable within one year on the Current year, right click and delete tag. 2. Click on the Payable within one year on the Comparative year, right click and delete tag. 3. Repeat the steps above for Payable after one year. 4. Drag and drop the Total borrowings tag on the Payable within one year for Current and Comparative year(s) 5. Tick the following dimension: 6. Then drag and drop the Total Borrowings tag on the Payable after one year for the Current and Comparative year(s) 7. Tick the following dimension: JULY

19 Small Companies reduced filing Audited Please note that there are inconsistencies between the Companies House validation checks and the disclosure requirements of the Companies Act around Small Companies Reduced Filing Audited accounts. We are seeking clarification on these and advise in the meantime to paper file these accounts. 3. IFRS/FRS101 Companies House filing with Detailed Profit and Loss Account taxonomy When exporting accounts prepared under the IFRS or FRS101 taxonomies from Accounts Production the taxonomy will be set to the Detailed Profit and Loss extension by default. If you require the accounts to be submitted to Companies House you will be shown a warning JULY 2017

20 Please chose no on this option and manually change the taxonomy to the non-dpl version. In the Document information Screen select the taxonomy drop down Set the taxonomy to the non DPL version. Your file will close and re open with the new taxonomy set. You will now be in a position to file online with Companies House JULY

21 3. Appendix 1 Companies House Group Accounts Submission Requirements FRS - Mandatory elements: To ensure that key information is provided, specific XBRL elements must be provided for the current accounting period. These are detailed below. Some of these elements do not take a value directly, but instead use a dimension to report a value from an enumerated list of options. Data Company number Company name Balance sheet date Balance sheet date of approval Balance sheet name of director approving Company-dormant/non-dormant Start of reporting period End of reporting period Company trading Accounts audited/unaudited Accounts full/abbreviated Accounting standards applied XBRL element UKCompaniesHouseRegisteredNumber EntityCurrentLegalOrRegisteredName BalanceSheetDate DateAuthorisationFinancialStatementsForIssue DirectorSigningFinancialStatements EntityDormantTruefalse (boolean) StartDateForPeriodCoveredByReport EndDateForPeriodCoveredByReport EntityTradingStatus Dimension: EntityTradingStatusDimension AccountsStatusAuditedOrUnaudited Dimension: AccountsStatusDimension AccountsTypeFullOrAbbreviated Dimension: AccountsTypeDimension AccountingStandardsApplied Dimension: AccountingStandardsDimension FRS Audited group accounts Group accounts will be identified by the ScopeAccounts element (Scope Accounts dimension = GroupAccountsOnly or ConsolidatedGroupCompanyAccounts ). They must contain the following details: a) Audit details The Audit details required are as described above i.e. DateAuditorsReport, OpinionAuditorsOnEntity, NameIndividualAuditor OR NameSeniorStatutoryAuditor / NameEntityAuditors. b) Directors report JULY 2017

22 The following elements must be provided: DateSigningDirectorsReport, DirectorSigningDirectorsReport c) Profit & Loss account The ProfitLoss element must be provided if the company has traded. If the company has not traded this must be indicated by the EntityTradingStatus (EntityTradingStatusDimension). d) Parent and Group Balance sheets A parent Balance sheet together with a consolidated Balance sheet must be provided. This is validated by the presence of BalanceSheetDate elements for both the parent and group i.e. with a GroupCompanyDataDimension for CompanyDefault and for Consolidated. (The consolidated and company Balance sheet dates must be the same.) e) Balance sheet statement If the Directors Report, Profit & loss account or consolidated Balance Sheet described above has not been provided, then a small companies/llps regime statement should be provided in the company or LLP format as appropriate. (The format is defined in the FRS unaudited accounts statements to the Balance sheet section). FRS unaudited group accounts Group accounts will be identified by the ScopeAccounts element (Scope Accounts dimension = GroupAccountsOnly or ConsolidatedGroupCompanyAccounts ). They must contain the following details: Unaudited group accounts must contain the necessary Balance Sheet statements i.e. a) Companies Section 477 statement Audit not required by members statement Directors responsibility statement Small companies regime statement JULY

23 4. Appendix 2 Companies House Audited Abridged Accounts Submission Requirements FRS - Mandatory elements: To ensure that key information is provided, specific XBRL elements must be provided for the current accounting period. These are detailed below. Some of these elements do not take a value directly, but instead use a dimension to report a value from an enumerated list of options. Data Company number Company name Balance sheet date Balance sheet date of approval Balance sheet name of director approving Company-dormant/non-dormant Start of reporting period End of reporting period Company trading Accounts audited/unaudited Accounts full/abbreviated Accounting standards applied XBRL element UKCompaniesHouseRegisteredNumber EntityCurrentLegalOrRegisteredName BalanceSheetDate DateAuthorisationFinancialStatementsForIssue DirectorSigningFinancialStatements EntityDormantTruefalse (boolean) StartDateForPeriodCoveredByReport EndDateForPeriodCoveredByReport EntityTradingStatus Dimension: EntityTradingStatusDimension AccountsStatusAuditedOrUnaudited Dimension: AccountsStatusDimension AccountsTypeFullOrAbbreviated Dimension: AccountsTypeDimension AccountingStandardsApplied Dimension: AccountingStandardsDimension FRS Audited abridged accounts Abridged accounts will be identified by the AccountsTypeFullOrAbbreviated element (accounts type dimension = AbridgedAccounts ). These may be submitted by companies for accounting periods commencing on or after 1 January 2015 (to allow for early adoption). They must contain the following details: a) Balance sheet statements Small companies/llps regime statement Abridgement statement. (The format of these statements is defined in the FRS unaudited accounts statements to the Balance sheet section - they should be provided in the company or LLP format as appropriate.) JULY 2017

24 b) Audit details Audit details must be provided as follows: Data Date Auditors report signed Auditors Opinion Name of Individual Auditor Name of senior Statutory Auditor Name of firm XBRL element DateAuditorsReport OpinionAuditorsOnEntity NameIndividualAuditor OR NameSeniorStatutoryAuditor NameEntityAuditors JULY