You will find a brief overview of the tagging process below. Each of these steps is covered in more detail on this support site and in our video training materials.
Step 1 - Assemble your financial statements
A complete set of financial statements is made up of six components:
- Income Statement: Summarises revenue and expense.
- Statement of Comprehensive Income: Revenue and expense items (including reclassification adjustments) that are not recognised in the income statement.
- Balance Sheet: Summarises assets, liabilities and equity.
- Statement of Changes in Equity: information about how profit/loss contributions from, and distributions to, holders of equity claims affects equity.
- Statement of Cash Flows: Information to assess the ability of the entity to generate cash and cash equivalents, and the needs of the entity to utilise those cash flows.
- Notes to Financial Statements: Narrative descriptions or disaggregations of items, and information about items that do not qualify for recognition in the financial statements.
It is extremely important that the data in these tables are accurate as software may not be able to compensate for errors in the same way as a human reader could.
Step 2 - Your statements and CtrlPrint
6 statements, 1 chapter
Although XBRL does not require you to change the layout or content of your financial statements, we strongly recommend that they are uploaded to a single chapter in CtrlPrint. This makes it much easier to troubleshoot any duplicate mapping or calculation errors later in the process. Your agency and/or project administrator will be able to do this for you during the setup phase of your project.
You will also need to set the default settings for your report. Please be aware that only system administrators can change these settings.
You can watch our video tutorial or click here for more information about what each setting means. We recommend you choose these settings before you start tagging as they will only be applied to any new tags created from this point onwards.
Step 3 - Tagging your report
Tagging your report involves a number of steps. Please click the links below for more information:
- Opening your statements in the Tagger (page 6 of the Tagger User Guide/video tutorial)
- Defining the tables to be tagged (page 10 of the Tagger User Guide/video tutorial)
- Finding the correct tags and applying them to cells (page 13 of the Tagger User Guide/video tutorial)
- Creating extensions and anchors if the correct tags are not available (page 14 of the Tagger User Guide/video tutorial)
- Amending default settings for individual cells where relevant (page 15 of the Tagger User Guide/video tutorial)
- Creating calculations where relevant (page 17 of the Tagger User Guide/video tutorial)
Validating your document is the process of checking if there are any errors in your tagging. The process involves a number of steps. Please click the links below for more information:
- Preparing validation error reports to locate errors (page 21 of the Tagger User Guide/video tutorial)
- Resolving duplicate mapping errors (video tutorial)
- Resolving calculation errors
- Resolving warning and information issues
All of this can be done from within the CtrlPrint Tagger. You can also create Excel versions of your error, mapping and calculation reports (pages 21, 25 and 26 of the Tagger User Guide respectively) for easy sharing with auditors and other stakeholders.
Step 5 - Creating and Reviewing your report
Once your report is tagged and validated, you can prepare a preview version of your iXBRL report (pages 27-28 of the Tagger User Guide/video tutorial). This will allow you to see how software will read your tagging and allow you and your auditors to check your tagging is accurate.
Step 6 - Submitting your report and hosting on your website
Once your report is ready for submission to your National Competent Authority (NCA) or Officially Appointed Mechanism (OAM), you can create a final ESEF Report on secure.ctrlprint.net. This download will include a zip folder ready to submit and a version of the report that can be hosted on your website.