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The XBRL Tagging Conventions (Taxonomies) published by the Financial Reporting Council (FRC) – FRS 101, FRS 102 and EU-adopted IFRS

The Financial Reporting Council (FRC) had released the FRS 101 and FRS 102 which forms the basis of the new UK GAAP. These standards are effective for the accounting periods beginning from 1st January 2015. Based on this, FRC has published three XBRL tagging conventions (taxonomies) as follows:

  • FRS 101 – with key information document
  • FRS 102 – with key information document
  • Full EU adopted IFRS – with key information document

FRS 101 essentially offers some disclosure exemptions from EU-adopted IFRS. This means that companies that qualify for these exemptions need to furnish smaller reports to their regulator. FRS 101 is a shorter version of the EU-adopted IFRS.

FRS 102 is based on the International Financial Reporting Standards for Small and Medium Entities (IFRS for SMEs). It replaces the incumbent UK GAAP taxonomy.

The following are some notable features of the new FRS 101 and FRS 102 taxonomies:

  • Presentation view: The main features are the same as in the existing UK account taxonomies
  • Dimension tags : ‘Typed dimensions’ and ‘Explicit dimensions’ introduced
  • ‘Grouping’ Tag replaces ‘Tuples’
  • ‘Analysis item’ tags are included in particular sections of accounts to enable preparers to tag line items for which no specific tag exists
  • Labels have been revised to improve clarity
  • Use of the documentation label restricted to line item tags and have been removed from Dimension tags
  • Summation and checking of tagging: The FRC is considering the publication of a set of consistency checks
  • Other changes
    • Datatypes – For example, the data type for dimension tags (dimension domain members) has switched to the international type, ‘nonnum:domainItemType‘, from the previous UK type, ‘uk-types:domainItemType’
    • Pre-defined or ‘enumerated’ values – The ‘enumerated values’ have been replaced by ‘fixed item type’
    • Balance attribute for cash flow data – The new taxonomies apply ‘debit’ and ‘credit’ balance attributes to cash flow and similar data using the convention that ‘credit’ represents an outflow of cash while ‘debit’ represents an inflow.
    • ‘Range dimensions’ introduced

The FRS 101 and FRS 102 taxonomies allow for more accurate tagging of accounts in iXBRL and are easier due to the design improvements. However the effort needed to successfully file an iXBRL document remains about the same. So, do you still need an iXBRL partner? The answer is an overwhelming yes. The primary reason that made the use of XBRL services a good idea up until now will still persist under the new reduced disclosure framework, namely:

The convenience of having an expert support team that is very well-versed in the relevant taxonomies and the underlying accounting standards, should you feel comfortable enough sharing your data with your reputed vendor.

DataTracks UK is a leading provider of iXBRL services to Accounting Firms and Businesses.

DataTracks ( provides iXBRL Managed Tagging Services to help companies convert their financial statements and tax computations to iXBRL format for filing with HMRC. All DataTracks services are provided through an easy to use e-commerce portal. User can register, create entities, place orders, pay, upload files and download iXBRL output when ready. DataTracks developed its iXBRL conversion software in-house, and was designed to support roll forward. As a result, clients are assured of consistency in tagging to their iXBRL documents and conforming to the latest taxonomy.

To find out more about DataTracks, visit or send an email to

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