1. Chapter 6 Current State of XBRL IFRS Taxonomy Discoverable Taxonomy Set Extension Taxonomies Validation of XBRL vs xml

2. Current State of XBRL

3. Who Must File All companies are now required to file using XBRL All companies are filing Level 1 to Level 4 footnotes Foreign Private Issuers are required to file using IFRS taxonomy

4. SEC Filing Packages Discoverable Taxonomy Set (DTS)

5. DTS – What must be filed with SEC Contains: ◦ Instance Document ◦ Extension Taxonomy ◦ Linkbases  Calculation  Definition  Labels  Presentation ◦ All Imported Schemas Filename Format ◦ Identifier-yyyymmdd.xml for instance and schema ◦ Identifier_yyyymmdd_cal.xml or _def or _lab or _pre

6. Extension Taxonomy

7. Structure of SEC Extension Taxonomy Schema Root Element, namespace declarations (same as chapter 3) annotation/appinfo ◦ link:linkbaseRef  Links all the linkbases to the schema document ◦ link:roleType  Links each statement and disclosure to the linkbases

8. link:linkbaseRef(International Speedway Corp 10Q)

9. link:roleType (International Speedway Corp 10Q) 0111 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink

10. Import schemas 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. http://xbrl.sec.gov/exch/2012/exch-2012-01-31.xsd 16. 17. 18. http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd 19.

11. Extension Element (International Speedway 10Q) Note: No longer used in current 10-Q Examine International SpeedwayInternational Speedway

12. XBRL Validation

13. XBRL Validation Levels Phase I ◦ xml validation (NOT XBRL)  Schema validation – does the xml match the schema structure?  International Speedway (will it validate?) Phase II ◦ Validates XBRL semantics in DTS  Requires specialized software ($’s) Phase III ◦ Validates XBRL based on reporting rules ◦ SEC XBRL filing requirements  Requires specialized software ($’s)

14. XBRL IFRS

15. IFRS Instance Document Same structure as XBRL Uses different taxonomy 1.Root element / namespace declarations 2.SchemaRef 3.Context 4.Unit 5.Items

16. IFRS Taxonomy 2012 Taxonomy Issued March 25, 2011 Compared to US GAAP, ~ 4000 elements vs. 15,000 Documentation is not included in IFRS (as it is NOT rule based). ◦ Instead disclosures and example references are included

17. Illustrations of IFRS XBRL iXBRL (next week) iXBRL XBRL IFRS

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