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XBRL: The Extensible Business Reporting Language. 14th Biennial Forum of Government Auditors 20-May-2002. Neal J. Hannon Chair, XBRL International Education Work Group Co-Founder, XBRL Center at Bryant College nhannon@bryant.edu. Agenda. XBRL – US and Worldwide Making the Case for XBRL

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xbrl the extensible business reporting language

XBRL: The Extensible Business Reporting Language

14th Biennial Forum of Government Auditors

20-May-2002

Neal J. Hannon

Chair, XBRL International Education Work Group

Co-Founder, XBRL Center at Bryant College

nhannon@bryant.edu

agenda
Agenda
  • XBRL – US and Worldwide
  • Making the Case for XBRL
  • Government XBRL Applications
  • Inside XBRL
  • The Future of Digital Reporting
xbrl update
XBRL UPDATE
  • FDIC to run pilot program for Call Sheets
    • Proof of concept is complete
    • RFQ in second quarter of 2002
    • Pilot program for 2003
  • APRA: XBRL in use for all required filings in banking and insurance industry in Australia
  • Microsoft and Reuters publish in XBRL
xbrl update1
XBRL Update
  • The Bank of America/ Moody’s Connection
  • Dresner and Deutsche Bank
  • GE Financial (tax consolidations)
  • Inland Revenue
  • 260 people attended Berlin, Germany conference
  • Over 50 Japanese companies members of XBRL-Japan
  • Total consortium membership projected to exceed 200 by 2003
xbrl the technology
XBRL – The Technology
  • Specification v2
    • XML
    • XML Schema
    • XML Linking Language (“XLink”)
    • Computation, Version Control, Mapping, Entity, and other Linkbases are Works in Progress
  • Interoperability
    • Summits I & II
    • Learn more @ http://www.omg.org/interop/
xbrl the organization
XBRL – The Organization
  • History
    • Founded by the AICPA in 1998 (13)
    • Spin Out into International Organization in 2002 (>140)
  • Organizational Matters
    • Structure of XBRL
    • Liaison work
    • Next International Meeting in Toronto June 17 – 21, 2002
  • Jurisdictional Growth
    • Active: Australia, Canada, Germany, IASB, Japan, UK, US, Singapore
    • Development: Belgium, Hong Kong, India, Ireland, Netherlands, New Zealand, South Africa, Spain, Sweden, Taiwan
slide7

Board of Directors

(Trustees)

2nd VC

…Hong Kong…

Netherlands

Spain

Sitting Members

Provisional

Members

Finance/Audit Committee

Nominating Committee

Grants

Executive Committee

International Steering Committee

Chair

At Large ISC Members

4th

3rd

1st

2nd

Web site Committee

XBRL Management

CEO

Supply Chain

Participants

Jurisdictions

International

Working Groups

1st Vice Chair

Preparer, Private Sector

Specification

Accounting

* Standing

Developers

AU

CA

Intermediaries

IASB*

DE

Liaison

Software & Services

SG

JP

Mktg & Comm

Investors/Creditors

UK

US

Education

Analyst

Research

Regulators

Academic

General Ledger

Public Sector Preparers

slide8

XBRL InternationalGovernance & Operational Structure

Board of Directors

(Trustees)

At Large ISC Members

OPEN

OPEN

Coffin

Hamscher

2nd VC – Schnitzer

Hong Kong

Netherlands

Spain

Members

Sitting Members

Provisional

Finance/Audit Committee

Chair - Ramin

Nominating Committee

Chair - Cuthbertson

Grants - Watson

Executive Committee

International Steering Committee

Chair - Hamscher

Web site Committee

Chair - Watson

XBRL Management

CEO (Acting) – Louis Matherne

Supply Chain

Participants

Jurisdictions

International

Working Groups

1st Vice Chair – Kurt Ramin

Preparer, Private Sector - OPEN

Specification - Hampton

Accounting - Willis

* Standing

AU -Hardidge

Developers - OPEN

CA - Cuthbertson

Intermediaries - Watson

DE - Fuhrmann

Liaison – Coffin (Acting)

Software & Services - Blake

IASB* - Ramin

JP - Watanabe

Mktg & Comm. - Colgren

SG - Tang

Investors/Creditors - Flickinger

Education - Hannon

UK - Rodgers

Analyst - Schnitzer

US - Matherne

Research - Srivastava

Regulators - Walenga

Academic - OPEN

GL - Cohen

Public Sector Preparers - OPEN

xbrl taxonomies
XBRL – Taxonomies
  • IASB Commercial & Industrial
  • IASB Commercial & Industrial for AU, NZ, SG, UK, HK,
  • Japan Statutory Accounts
  • Germany Statutory Accounts
  • International General Ledger
  • U.S. Commercial & Industrial
  • U.S. Investment Management
  • U.S. Federal Government General Ledger (KPMG developed)
  • U.S. Non-Profit Form 990
  • Other specific sector based taxonomies under development.
xbrl support
XBRL Support

“I would like to see you develop valuation models that result in consistent, comparable and fair values of assets and liabilities. I would like to see you hone specific, but plain English definitions for the types of information you believe should be included in public disclosure. I would like to see you take your XBRL project a step further, providing account classifications for companies in common industries. In short, I challenge you to turn all of this data into meaningful information for investors.”

- Arthur Levitt, Chairman, U.S. Securities & Exchange Commission

October 24, 2000, at the Fall Council of the AICPA (Las Vegas, Nevada)

microsoft cfo on xbrl
Microsoft CFO on XBRL
  • "Through Internet delivery, XBRL will also provide analysts and investors with extensible financial data to make informed decisions about the company. We see XBRL as not only the future standard for publishing, delivery and use of financial information over the Web, but also as a logical business choice."

John Connors, Chief Financial Officer, Microsoft

the capital markets
The Capital Markets
  • “NASDAQ joins shoulder to shoulder in the effort of the XBRL Consortium to adopt this new, freely available technology because it feels that improving the distribution and analysis of corporate results, especially for the 10,000 companies not covered by Wall Street analysts will broaden the market for NASDAQ’s own trading services”

Michael Sanderson, CEO NASDAQ Europe

transparency in financial reporting
Transparency in Financial Reporting
  • “Reuters’ reputation stands on its ability to communicate and the extensible business reporting language standard it has employed this week to publish accounts online is amongst the most significant of developments in promoting transparency in financial information”

Accountancy Age, 1 November 2001

message to congress on post enron environment
Message to Congress on Post Enron Environment
  • “One large scale and potentially revolutionary private sector initiative that already is underway is a collaboration of growing companies, accounting firms and the AICPA to develop a common “tagging” system for various financial accounts, which goes under the acronym “XBRL”. … I would urge the SEC (and if necessary, urge the Committee to urge the SEC) to encourage this project… One possibility: require EDGAR submissions to be in XBRL by a specific date.”
  • Bob Litan, Brookings Institution & Bear Stearns testimony to U.S. Senate Banking Committee on post-Enron, March 14, 2002
implementations vendors
Implementations/Vendors
  • ACCPAC
  • Caseware
  • Creative Solutions
  • Enumerate
  • FRSolutions
  • MSFT/Great Plains/Navision
  • Fujitsu
  • Hitachi
  • Hyperion
  • KPMG
  • Moody’s
  • NewTec
  • SAP
  • Semansys
  • Software AG
  • UBMatrix
  • APRA
  • FDIC
  • UK Inland Revenue
  • GRE – Credit & RM
  • General Electric
  • Morgan Stanley
  • Reuters
  • Microsoft
  • Edgar-OnLine
  • Moody’s
  • Edgarscan
agenda1
Agenda
  • XBRL – US and Worldwide
  • Making the Case for XBRL
  • Government XBRL Applications
  • Inside XBRL
  • The Future of Digital Reporting
extensible markup language xml
eXtensible Markup Language (XML)
  • ……is a meta markup language the World Wide Web Consortium (W3C) considers a universal standard for describing both structured data and the behavior of applications that process the language.
xml is
Windows

Unix

Macintosh

Mainframe

Linux

Example:

<DATE>July 26, 1998</DATE>

Describes the information, not the presentation

Format neutral

XML is

Platform Independent

Self-Describing

content and context
Thousands of companies release financial results quarterly

The contents are not organized. The data must be re-entered into computer applications for interpretation.

What if financial documents included both

Content (75,044,453) and

Context (¥75,044,453=net income for Q1/2001)

Content and Context
xml markup what does it look like
XML Markup: What Does it Look Like?

Michael M. Miller

8080 Hill Circle

Lincoln, MA 01738

+1 (617) 515-1424

Birthdate: 19 October 58

<name>Michael M. Miller</name>

<address>

<street>8080 Hill Circle</street>

<city>Lincoln</city>

<state>Massachusetts</state>

<country>United States of America</country>

<postcode>01738</postcode>

</address>

<telephone>6175151424</telephone>

<birthdate>19/10/1958</birthdate>

Ordinary information

Metadata:

Information about information

structured content allows data reuse comparability aggregation
Structured Content allowsData reuse, comparability, aggregation

Regulatory filings

Tax Return

Explanatory text

Document

(Data with Metadata)

Bank filings

Accounting system

Other information

Website

sources

Printed

Financials

Schemas

(Standard

Definitions)

structured content allows data reuse comparability aggregation1
Structured Content allowsData reuse, comparability, aggregation

Regulatory filings

Explanatory text

Tax Return

XBRL

Instance

Accounting system

Bank filings

Website

Other information

sources

Printed

Financials

XBRL

Taxonomies

Investor

Analytics

xml is expandable
XML is Expandable
  • Whereas
    • HTML has a fixed set of tags (<H1>, <B>, <PRE>) aimed at data presentation
  • XML lets you create your own tags
    • <sugary-substance>
    • <Shakespearean-character>
    • <cash-equivalent>
    • The key focus is on content, not presentation
slide25

The XML Puzzle

XML

Document

Industry Specific Vocabularies

Company Specific Vocabulary

Core

Schema

Transformation Tools

what is xbrl
What is XBRL?
  • XBRL is a freely available electronic language for financial reporting
  • XML-Standards based method to :
    • Prepare,
    • Reliably Extract,
    • Exchange on a system to system basis
    • Publish company financial data
  • Potential for extensive use in government accounting
slide27

XBRL Builds on XML and SGML

Industry Developed,

Supported

XBRL

2001

XML and XML

enabling technologies

X-Link, X-Schema

W3C

Supported

1998

ISO

Standard

SGML

Standard Generalized Markup Language

1986

evolution to w eb services

Innovation

Technology

Evolution to Web Services

Program the Web

Web Services

Browse the Web

Web Pages

Text Files

Automation

FTP, E-Mail,Gopher

Presentation

Connectivity

TCP/IP

HTML

XML

slide29

How XBRL Solves Problems

Improves the way companies -- and applications -- share business reporting information

5. XBRL data is used in the government application and/or other comparable programs

3. XBRL information flows freely across the Internet or VPN, LAN and WAN

1. Client Specific Data

Financial data; multiple systems

FDIC Call Report

XML/XBRL

translator

XML/XBRL

translator

Common XBRL Vocabulary

Client COA to

FDIC Taxonomy

FDIC Taxonomy

2. Application data is selected, cleaned and tagged in XBRL

4. XBRL-tagged data is mapped into applications specific data such the FDIC’s Call Reports

slide32

Benefits

  • XBRL is:
    • NOT a new accounting standards but enhances the distribution and usability of existing financial statement information
    • Enabler and an extension for native-XML database functionality* for all financial statement information
      • *Can be stored as a form or a separate financial fact
raw xbrl
Raw XBRL

<numericContext id="rg.cy00.jpy" cwa="false" precision="4">

<entity>

<identifier scheme=“Ticker">rg</identifier>

</entity>

<period>

<startDate>2000-01-01</startDate>

<endDate>2000-12-31</endDate>

</period>

<unit>

<measure>iso4217:jpy</measure>

</unit>

</numericContext>

Rock Gravel Corp.

Period from 1 Jan 2000 to 31 Dec 2000, In Yen

Precise to 4 digits

xbrl as a translator
XBRL as a Translator
  • Accounting is fragmented
    • Hundreds of accounting software packages
    • Many correct ways to interpret GAAP and Governmental accounting
  • XBRL as common denominator
    • Each set of financial data can conform to a single taxonomy.
who defines the tags
Tags are defined by industry consortiums

Each industry’s standard tags are commonly referred to as a taxonomy

Who defines the tags?
xbrl taxonomies in 2002
XBRL Taxonomies in 2002
  • Best practices
    • e.g. ast.amz.goodwill = Amortization of Goodwill
    • e.g. Assets have “current” & “non current” children
    • e.g. Reusable common components taxonomy
  • Focused development efforts
    • IAS Taxonomy: Core financials, Core + Notes
    • US GAAP C&I Taxonomy
    • UK GAAP C&I Taxonomy
    • Inland Revenue “Computation” Taxonomy
    • FDIC Taxonomy (US)
    • Canadian GAAP, others.
    • US Standard GL taxonomy (Federal Govt.)
xbrl for general ledger
XBRL for General Ledger

Developing an international core

for reporting general ledger transactions

slide38

XBRL.org Specifications

XBRL for FinancialStatements

XBRL for General Ledger

XBRL for EDGAR Filings

Business

Operations

Internal

Financial

Reporting

External

Financial

Reporting

Investment

and Lending

Analysis

Processes

XBRL for Business Event Reporting

XBRL for Audit Schedules

XBRL for Tax Filings

Companies

Financial

Publishers

and Data

Aggregators

Investors

Participants

Trading

Partners

Management

Accountants

Auditors

Regulators

Software Vendors

xbrl general ledger goal
XBRL- General Ledger Goal
  • A cross-jurisdictional, cross-industry fact-gatherer for representing the information found in a “General Ledger”, internationally. Bringing “standardization” to
requirements for xbrl gl
Requirements for XBRL GL

A Standard Format for:

  • 3rd party software to create journal entries to pull into client GL system
  • To move unposted and posted GL information from divisions to consolidating systems, budgeting ,forecasting, reporting tools, and back
  • To upload general ledger information, payables, receivable files and open balances for system migration or interfacing with Internet ASP
requirements for xbrl gl1
Requirements for XBRL GL

Standard Format to move information

  • From client's systems to CPA
  • From one CPA system (eg, write-up) to another (eg, tax) in an international context.
  • Open receivables, open payables, inventory balances, and other asset-based measures for sharing with banks
  • Detail drill-down for performance measurement reporting items

Standard Format to Represent

requirements for xbrl gl2
Requirements for XBRL GL
  • Extensible for any type of mandatory audit trail
  • Extensible for meeting any "sub-ledger" need
  • Designed as XBRL spec-compliant but for easy translation to other uses
  • Cannot assume that XBRL period, entity, unit and other context (numeric, nonnumeric) will automatically be there.
slide43

XBRL-GL: From Business Transactions to Financial Statements

XBRL For

Financial Statements

Recommended status

3/15/02

XBRL GL Core

Unique to each

organization

XBRL GL Custom

Business Transactions

Not XBRL; function of

other consortiums

slide44

XBRL-GL: From Government Transactions to Financial Statements

XBRL For

Financial Statements

Federal

Government Core

XBRL GL Core

Health and Human Services

XBRL GL Custom

Government Transactions

Not XBRL; function of

other consortiums

components to make things happen
Components to Make Things Happen
  • XBRL-GL Taxonomy - Uses Specification 2.0
    • Core Schema
      • Basic Concepts (with definitions) as structure for extension
    • Presentation linkbase
      • Default presentation order
    • Label linkbase
      • Default human readable labels
overview of the structure of the gl taxonomy
Overview of the Structure of the GL Taxonomy

Three Primary Levels

accountingEntries

entryHeader

entryDetail

GL Journal Batches

Target and Source Application

Creator

Organization

GL Journal Header

Journal Identifiers

Entered by

Entry Date

Posting Date

Hash Totals

GL Journal Detail Lines

Detail Identifiers

Line Number

Amount

Account

XBRL Reference

reconciliations ar
Reconciliations:AR

4. XBRL US ci

accountsReceivableTradeNet.accountsReceivableTradeGross

US

GL

xbrlElement=“accountsReceivableTradeNet.accountsReceivableTradeGross”

xbrlTaxonomy=“{usgaap}”

Continential

GL

US

AR

3. XBRL GL entriesType=“balance”

summarized amounts in account, period in time

or

Do the entries in 2 or 3 map to the total in 4??

2. XBRL GL entriesType=“entries”

represents individual detail of entries

Do the entries in 2 sum up to the balances in 3?

Are all documents from 1. reflected in the detailed entries of 2.? (documentType=“invoice”, etc.)

1. XBRL GL: entriesType=“assets”

represents AR aging

cash reconciliations and tests
Cash Reconciliations and Tests

4. XBRL US ci

cashAndCashEquivalents.Cash

US

GL

xbrlElement=“cashAndCashEquivalents.Cash”

xbrlTaxonomy=“{usgaap}”

Continential

GL

US

AR

3. XBRL GL entriesType=“balance”

summarized amounts in account, period in time

or

US

AP

2. XBRL GL entriesType=“entries”

represents individual detail of entries

documentType:

check debit-memo

credit-memo finance-charge

invoice reminder

voucher manual-adjustment

other

1. XBRL GL: entriesType=“assets”

represents detail of invoices, payments, etc.

from both AR and AP

xbrl gl
XBRL-GL
  • Files and more information can be found at: www.xbrl.org/gl/gl.htm
agenda2
Agenda
  • XBRL – US and Worldwide
  • Making the Case for XBRL
  • Government XBRL Applications
  • Inside XBRL
  • The Future of Digital Reporting
xbrl us federal agencies
XBRL – US Federal Agencies
  • Joint Financial Management Improvement Program (JFMIP) 2001 report

JFMIP includes Department of Treasury, General Accounting Office, Office of Management and Budget, and the Office of Personnel Management.

  • “Core Financial System Requirements” states: ”To meet JFMIP interoperability requirements, the Core Financial system should: support emerging XML-based specifications for the exchange of financial data such as Extensible Business Reporting Language (XBRL).” Value Added Feature
  • http://www.jfmip.gov/jfmip/.
slide53

XBRL for G/L Journal Entry Reporting

XBRL for Financial Statements

XBRL for EDGAR Filings

Business

Operations

Internal

Financial

Reporting

External

Financial

Reporting

Investment

and Lending

Analysis

Processes

XBRL for Business Event Reporting

XBRL for Audit Schedules

XBRL for Tax Filings

Companies

Financial

Publishers

and Data

Aggregators

Investors

Participants

Trading

Partners

Management

Accountants

Auditors

Regulators

Software Vendors

Commercial Financial Information Supply Chain

slide54

XBRL for G/L Journal Entry Reporting

XBRL for Financial Statements

XBRL for EDGAR Filings

Business

Operations

Internal

Financial

Reporting

External

Financial

Reporting

Investment

and Lending

Analysis

Processes

XBRL for Business Event Reporting

XBRL for Audit Schedules

XBRL for Tax Filings

Organizations

Higher

Echelons

Public

Participants

Trading

Partners

Management

Accountants

Auditors

Policy Setting Organizations

Software Vendors

Government Financial Information Supply Chain

slide55

Federal Generally Accepted Accounting Principles Hierarchy

Individual

standards agreed to by

the Director of OMB, the Comptroller General, and the Secretary of the Treasury

Interpretations related to the SFFASs issued by

OMB in accordance with the procedures outlined in OMB

Circular A-134, Financial Accounting Principles and Standards.

Requirements contained in OMB's Form and Content Bulletin in effect for the period covered by the financial statements.

Accounting principles published by authoritative standard setting bodies and

other authoritative sources (a) in the absence of other guidance in the first three parts of this hierarchy, and (b) if the use of such accounting principles

improves the meaningfulness of the financial statements.

  • Department of Agriculture
  • Department of Commerce
  • Department of Defense
  • Department of Education
  • Department of Energy
  • Department of Health and Human Services
  • Department of Housing and Urban Development
  • Department of the Interior
  • Department of Justice
  • Department of Labor
  • Department of State
  • Department of Transportation
  • Department of the Treasury
  • Department of Veterans Affairs
  • Agency for International Development
  • Environmental Protection Agency
  • Federal Emergency Management Agency
  • General Services Administration
  • National Aeronautics and Space Administration
  • National Science Foundation
  • Nuclear Regulatory Commission
  • Office of Personnel Management
  • Small Business Administration
  • Social Security Administration
sffas promulgation process
SFFAS Promulgation Process

Treasury http://www.treas.gov

Draft Statements

of Federal Financial

Accounting Standard

SFFAS

Federal Accounting

Standards Advisory Board

FASAB

(9 Board Members)

Appoints

Appoints

OMB http://www.whitehouse.gov/omb

GAO http://www.gao.gov

Statements of Federal Financial Accounting StandardsAmendments

SFFAS 1 - Accounting for Selected Assets and Liabilities

SFFAS 2 - Accounting for Direct Loans and Loan Guarantee SFFAS 18

SFFAS 3 - Accounting for Inventory and Related Property

SFFAS 4 - Managerial Cost Accounting Concepts and Standards

SFFAS 5 - Accounting for Liabilities of the Federal Government SFFAS 12

SFFAS 6 - Accounting for Property, Plant and Equipment SFFAS 11, 14 & 16

SFFAS 7 - Accounting for Revenue and Other Financing Sources SFFAS 13

SFFAS 8 - Supplementary Stewardship Reporting SFFAS 11, 14 & 16

SFFAS 9 - Deferral of Implementation Date for SFFAS 4

SFFAS 10 - Accounting for Internal Use Software

SFFAS 15 - Management’s Discussion and Analysis

SFFAS 17 - Accounting for Social Insurance

http://www.financenet.gov/fasab.htm

Treasury http://www.treas.gov

Approves

OMB http://www.whitehouse.gov/omb

GAO http://www.gao.gov

slide57

Treasury USSGL Crosswalk to OMB Form and Content

OMB Form and Content

ASSETS

1. Entity

A. Intragovernmental

1. Fund Balance With Treasury

2. Investments

3. Accounts Receivable, Net

4. Other

5. Total Intragovernmental

B.

1. Investments

2. Accounts Receivable, Net

4. Cash and Other Monetary Assets

5. Inventory and Related Property, Net

6. General Property, Plant and Equipment, Net

7. Other

C. Total Entity

GLAAttributes

1340 X,Y,Z

1349 A,B,C

1610 X,Y,Z

Taxonomy Development and ResourcesGovernment Policy

  • GAP
  • OMB Form and Content
  • USSGL Crosswalk to OMB F&C
  • USSGL
  • TFM
  • SFFAS/SFFAC
slide58

Potential Financial Statement Submission Process

Post close T/B

US Standard

General Ledger

USSGL PCTB

& Crosswalk

elements

Post close

T/B

Proprietary

COA

Mapping to

US Standard

General Ledger

Convert to Treasury

Crosswalk elements

Federal

Taxonomy

Instance

Document

Build

Custom

Taxonomy

Consolidated

Federal

Financial

Statements

Consolidated

Federal

Financial

Statements

Entity A

Federal Financial

Statements

Aggregation

and/or

Consolidation

Aggregation

and/or

Consolidation

Other

consolidated

Financial

Statements

Other entities’

Financial

Statements

Blue = required tool

agenda3
Agenda
  • XBRL – US and Worldwide
  • Making the Case for XBRL
  • Government XBRL Applications
  • Inside XBRL
  • The Future of Digital Reporting
how will xbrl impact content based businesses
How will XBRL impact content based businesses?
  • Intermediaries’ value added does not change
    • Completeness – History and breadth
    • Consistency – Data linkage via unique identifiers
    • Availability, Anonymity of access
    • Customization, Convenience
  • Intensifies competition over unique content
  • Producer & consumer behaviors change slowly

Intermediary

Consumer

Producer

Intermediary

why xbrl instead of our own schemas
Why XBRL instead of our own Schemas?
  • Don’t reinvent the features of XBRL
    • Item types – financial parameters
    • Predefined concepts (labels, references)
    • Entities, periods, segments, scenarios
    • Extensibility using XLink
  • Business Information
  • that is
  • Financial in nature
  • Enhances standard definitions
  • Refers to multiple entities
  • Refers to multiple periods

9,000

EPS

Information

Producer

Information

Consumer

€ 2.5m

57%

Information

Producer

Information

Consumer

Information

Producer

Information

Consumer

xbrl uses xlink to represent all relationships between data elements

<Label>Current Assets</Label>

<element id=“ast.cur”>

Definition:

more

general

label

label

<Label>Inventory</Label>

Presentation:

before

<P>A formal explanation of Inventory in the Accounting Literature</P>

reference

<element id=“ast.fixed”>

XBRL uses XLink to represent all relationships between data elements

<element id=“ast.inv”>

xlink allows customization and explicit modular changes to reusable material

<Label>

</Label>

<element id=“ast.cur”>

Definition:

more

general

<Label>

</Label>

Presentation:

before

reference

<P>A formal explanation of Inventory in the Accounting Literature</P>

<element id=“ast.fixed”>

XLink allows customization and explicit, modular changes to reusable material

label

label

<element id=“ast.inv”>

agenda4
Agenda
  • XBRL – US and Worldwide
  • Making the Case for XBRL
  • Government XBRL Applications
  • Inside XBRL
  • The Future of Digital Reporting
present and near future uses of xbrl
Present And Near Future Uses of XBRL
  • B2G - Regulatory Applications
    • Australian Prudential Regulatory Authority (2001)
    • US Federal Depository Institution Corp. (2003)
    • UK Inland Revenue (2004)
  • B2L – Business to Lenders
    • Bank of America / Moody’s – Credit Analysis (2003)
    • Deutsche Bank – same
  • B2M – Business to Markets
    • Traditional financial reporting (2002)
    • Business performance reporting (2003)
  • Internal applications
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Neal J. Hannon, CMAChair, Education Work Group, XBRL Internationalnhannon@cox.netPhoto Credit: Dave Garbutt, FRS, South Africa

Questions?