Fundamental Accounting Concepts Used in Financial Reporting

Computer readable metadata for the fundamental accounting concepts and the relations between those concepts can be found here:

Consistency Rules

The items which show up on a financial statement (balance sheet, income statement, cash flow statement) can be grouped into categories. Those categores have relations. Those relations never change. While the relations can be different for different styles of reporting; within a style of reporting the relations never change.

The following is a summary of these unchanging relations between fundamental accounting concepts:

Impute rules

Not all economic entities report every line item explicitly. But unreported line items can generally be imputed from other line items that are explicitly reported. For example, if the line items "Assets" and "Current assets" are explicitly reported but the line item "Noncurrent assets" is not reported; Noncurrent assets can be imputed to be "Assets - Current assets".

For the most current machine readable metadata expressed using the XBRL syntax, see the Financial Report Ontology page here. This is a copy of the most current information