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IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
IMA XBRL Harness the Digital Power
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IMA XBRL Harness the Digital Power

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  • XBRL: The power of Digital Information
  • Take care not to pitch XML too strongly
  • XBRL allows co analyst investors and other audiences to make better informed fin and mgmt decisions and to leverages the capabilities to facilitate the exchange of financial reports.
  • This slide attempts to open people's minds up to using digital reporting as a competitive tool. Talk will center on a business as a connected entity, with needs to immediately sense when a part of the entity is in trouble or experiencing unusual growth.   Transactions, transactions, transactions is all about reminding people that the real action in business is every event that has economic impact on the company. More and more, these transactions will be captured in a digital form that should feed directly into an XBRL environment. XBRL GL and Journal entry will help, direct ties with ebXML will be important.   Two-way analysis happens when a digital reporting system is established that can, through the use of intelligent agents and other software programs, constantly check the entity’s vital signs. ABC helps companies re-allocate overhead. Activity based management takes the results of the re-allocated overhead and targets areas for cost improvements and cost reduction. Similarly, two-way digital reporting provides the information that will allow companies to quickly react to situations identified
  • XBRL: The power of Digital Information
  • Transcript

    • 1. XBRL: Harness the Digital Power
    • 2. XBRL: Decision Making in a Digital Economy How XBRL Will Make a Difference
    • 3. The Internet and XML <ul><li>HTTP, HTML and the Static Web </li></ul><ul><ul><li>Flat files, Data needs to be re-keyed </li></ul></ul><ul><li>XML: Communicating Computer to Computer </li></ul><ul><ul><li>Dynamic Possibilities for External and Internal Reporting </li></ul></ul>
    • 4. XBRL: Primary Reporting Tool of Digital Economy <ul><li>All company data moving to digital </li></ul><ul><li>XML: the means of transport </li></ul><ul><li>XBRL understands XML data </li></ul><ul><ul><li>Not just tagging financial statements </li></ul></ul><ul><ul><li>Meaningful reports tied to transactions </li></ul></ul>
    • 5. E-Reporting Adds Value <ul><li>Business at the Speed of Fiber </li></ul><ul><li>Digital Business is Connected </li></ul><ul><li>Automatic Sensing Through Intelligent agents </li></ul><ul><li>Common Thread: Digital Media, including XML </li></ul>
    • 6. So…Why is this Important? <ul><li>Tagging financial facts transforms the information into digital media </li></ul><ul><li>Digital information can be: </li></ul><ul><ul><li>Understood by computers </li></ul></ul><ul><ul><li>Read by humans </li></ul></ul><ul><ul><li>Collected by software agents </li></ul></ul><ul><ul><li>Re-positioned as a report or Web site </li></ul></ul><ul><ul><li>Better serve the financial information user community </li></ul></ul>
    • 7. What Is XBRL? <ul><li>Simply put: It’s a tagging system for financial data. And much more. </li></ul><ul><li>Similar to the UPC codes on food in a grocery store </li></ul><ul><li>Tags contain information about financial facts such as cash balances </li></ul><ul><li>Can provide the basis of analysis </li></ul>
    • 8. XBRL: Solves the Puzzle <ul><li>Using many digital data formats </li></ul><ul><li>Seeing connections, sensing problems, seeking solutions </li></ul>
    • 9. Why XBRL? <ul><li>+ Faster Analysis of Financial Information </li></ul><ul><li>+ Based on XML standard (ensuring platform interoperability) </li></ul><ul><li>+ Digital Media For Business Analysis _________________________________________ </li></ul><ul><li>= Business Reporting Language for the Future </li></ul>XBRL Strategic Business Information Internal and External Reports General Ledger ebXML Journal Entries HR XML
    • 10. XBRL Reports Labor Transaction XBRL Report E-commerce Inventory Move Information moves up and down in a two-way flow X M L
    • 11. E-Reporting <ul><li>The natural extension to </li></ul><ul><li>the e-business revolution </li></ul>Purchase Order XML Invoice Journal Entry XBRL XML-enabled ERP HR CRM E-commerce Balanced Scorecard Digital Reports
    • 12. Digital Reporting and Analysis <ul><li>External Reporting is just the beginning. </li></ul><ul><li>Transactions, transactions </li></ul><ul><li>Two-way analysis </li></ul>
    • 13. XBRL Digital Reporting <ul><li>Investor Relations </li></ul><ul><li>Investment Management </li></ul><ul><li>Tax Reporting </li></ul><ul><li>Regulatory Reporting </li></ul><ul><li>Management and Business Reporting </li></ul><ul><li>XBRL for Financial Services </li></ul><ul><li>XBRL in e-Government </li></ul>
    • 14.  
    • 15. Becoming an XBRL Organization <ul><li>Choose your Implementation Model </li></ul><ul><ul><li>XBRL on Top </li></ul></ul><ul><ul><li>XBRL Inside </li></ul></ul><ul><ul><li>XBRL Side by Side </li></ul></ul><ul><ul><li>XBRL Online </li></ul></ul><ul><li>XBRL: Primary Digital Reporting Tool </li></ul>
    • 16. XBRL and Digital Information Trends <ul><li>International Issues </li></ul><ul><ul><li>Financial Reporting Solutions, SA </li></ul></ul><ul><ul><li>ISA taxonomy </li></ul></ul><ul><li>Auditing and Trust Issues </li></ul><ul><li>XBRL as Digital Media </li></ul><ul><li>Semantic Web </li></ul>
    • 17. New Skills You Will Need <ul><li>Basic XML Understanding </li></ul><ul><li>Communication with XBRL Software Vendor </li></ul><ul><li>Care and Maintenance of XBRL Files </li></ul><ul><li>Ability to Add Custom XBRL Tags </li></ul><ul><li>Basic XML Transformations (Style Sheets) </li></ul>
    • 18. Benefits For Financial Professionals <ul><li>Analysis of accounts in seconds </li></ul><ul><li>Reduce time closing the books </li></ul><ul><li>Change report format without changing the data </li></ul><ul><li>Integrate other electronic business data into a digital nervous system </li></ul>
    • 19. When is XBRL Coming? <ul><li>When the market demands it through: </li></ul><ul><ul><li>Regulation </li></ul></ul><ul><ul><li>Tangible Cost Benefits </li></ul></ul><ul><ul><li>Major players adopt, find success </li></ul></ul><ul><ul><li>Financial supply chain savings </li></ul></ul><ul><li>Major obstacles to implementation </li></ul><ul><ul><li>Cost to get started must come down </li></ul></ul><ul><ul><li>Educating workforce </li></ul></ul>
    • 20. Industry Survey Demo Workflow Coke and Pepsi file 10K EDGAR Online processes 10K’s EDGAR Online sends email notification Analyst receives email and starts Industry Survey Value Added Analysis (Pivot Tables) Analyst Chooses Companies XBRL files transferred to Industry Survey Create Chart from Analysis Publish to Powerpoint and the Web 1 2 3 4 5 6 7 8 9
    • 21. Workflow <ul><li>1. Coke files 10k </li></ul><ul><li>2. EOL process 10k </li></ul><ul><li>3. EOL sends out email </li></ul><ul><li>4. Analyst receives email </li></ul><ul><li>5. Analyst starts I/S template </li></ul><ul><li>6. Analyst chooses companies </li></ul><ul><li>7. Analyst generates raw data </li></ul><ul><li>8. Analyst creates value added analysis </li></ul><ul><li>9. Create data tables </li></ul><ul><li>10. Pop PPT </li></ul><ul><li>11. Add bullets to PPT </li></ul><ul><li>12. Publish to Web </li></ul><ul><li>13. Send out email notifications </li></ul>
    • 22. Where do we go from here? <ul><li>Join XBRL.org </li></ul><ul><li>Learn new digital reporting methods </li></ul><ul><li>Use XBRL enabled information for internal business </li></ul><ul><li>Watch IAS for further developments </li></ul>
    • 23. Where do we go from here? <ul><li>Visit web.bryant.edu/xbrl </li></ul><ul><li>www.xbrl.org </li></ul>
    • 24.  
    • 25. XBRL: Harness the Digital Power

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