List of Fundamental Accounting Concepts

Last updated: 4/29/2021 7:43:01 AM

Line	Financial Statement Location	Concept Name	Concept Label	Required to report?	May redefine or replace?	May create new?	May add new subclass?
1	Balance sheet	fac:Assets	Assets	YES	NO	NO	YES
2	Balance sheet	fac:CurrentAssets	Current Assets	YES	NO	NO	YES
3	Balance sheet	fac:CurrentLiabilities	Current Liabilities	YES	NO	NO	YES
4	Balance sheet	fac:Liabilities	Liabilities	NO	NO	NO	NO
5	Balance sheet	fac:LiabilitiesAndNetAssets	Liabilities and Net Assets	YES	NO	NO	NO
6	Balance sheet	fac:NetWorth	Net Worth	YES	NO	NO	NO
7	Balance sheet	fac:NoncurrentAssets	Noncurrent Assets	NO	NO	NO	YES
8	Balance sheet	fac:NoncurrentLiabilities	Noncurrent Liabilities	NO	NO	NO	YES
9	Cash flow statement	fac:NetCashFlow	Net Cash Flow	YES	NO	NO	NO
10	Cash flow statement	fac:NetCashFlowFromFinancingActivities	Net Cash Flow From Financing Activities	YES	NO	NO	NO
11	Cash flow statement	fac:NetCashFlowFromInvestingActivities	Net Cash Flow From Investing Activities	YES	NO	NO	NO
12	Cash flow statement	fac:NetCashFlowFromOperatingActivities	Net Cash Flow From Operating Activities	YES	NO	NO	NO
13	General	fac:BalanceSheetDate	Balance Sheet Date	YES	NO	NO	NO
14	General	fac:DocumentType	Document Type	YES	NO	NO	NO
15	General	fac:EconomicEntityIdentifier	Economic Entity Identifier	YES	NO	NO	NO
16	General	fac:EconomicEntityName	Economic Entity Name	YES	NO	NO	NO
17	Income statement	fac:Expenses	Expenses	YES	NO	NO	YES
18	Income statement	fac:NetIncomeExpenses	Net Income (Expenses)	YES	NO	NO	NO
19	Income statement	fac:Revenue	Revenue	YES	NO	NO	YES