Financial reporting · The close calendar · Element
The estimates
What is estimated rather than waited for, and within what tolerance.
The part
What it is
Deciding in advance what may be estimated is what makes a fast close possible, and it removes the argument from the moment.
Estimates should be trued up in the following period rather than corrected retrospectively, which keeps the reporting comparable.
The smallest level
The attributes it carries
Each attribute is one of the framework’s shared types. What a date is, and how it is written, is defined once for the whole model — the note here says what it means in this particular place.