This document discusses XBRL (eXtensible Business Reporting Language). It defines key terms like taxonomy and instance document. XBRL provides a way to tag financial and business information for purposes like SEC reporting. The document outlines the process for creating an XBRL instance document, including downloading data and taxonomy, mapping data to tags, validating, and filing. It also notes that strong internal controls are needed for XBRL applications, and existing IT controls can be adapted.

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Chapter 9
XBRL

2. 9-2
Outline
• Learning objectives
• Purpose & nature of XBRL
• Terminology
• Instance document creation
• Internal control

3. 9-3
Learning objectives
1. Define the following terms as they relate to
XBRL: extensible, specification, taxonomy,
namespace, and instance document.
2. Explain the history and structure of XBRL.
3. Discuss ways XBRL can benefit
organizations.
4. Identify software tools for creating XBRL-
tagged documents.
5. Discuss internal control issues for XBRL.

4. 9-4
Purpose & nature of XBRL
• Acronym
eXtensible Business Reporting Language
• Platform-independent tool tagging tool
• Provides context for business reporting
information—most often, financial
information

5. 9-5
Purpose & nature of XBRL
• Important characteristics
– Open source
– Extensible
– Required for SEC reporting
– Can also be used for internal information,
such as journal entries
– Language—not a new set of GAAP
– Overseen by XBRL International
(www.xbrl.org)

6. 9-6
Terminology
• Extensible
Users can add tags as
needed.
• Specification
XBRL is an example of a
broader group of languages
called XML
Like any language,
XBRL has unique
terms that are
critical to
understanding it.

7. 9-7
Terminology
• Taxonomy
– An organizational
structure for XBRL tags
– Two broad types
• Acknowledged
• Approved
– Examples
• US GAAP Taxonomy 2009
• US SEC Certification
Taxonomy 2009
• XBRL Global Ledger
Taxonomy
Like any language,
XBRL has unique
terms that are
critical to
understanding it.

8. 9-8
Instance document creation
1. Download the data
to a spreadsheet.
2. Download the
relevant taxonomy.
3. Map the data to the
taxonomy; that is,
determine which
tags are associated
with which data.
4. Tag the data with
appropriate tagging
software.
5. Validate the
document.
6. File the document
appropriately.
See Figure 9.2 for a flowchart of
these steps.

9. 9-9
Internal control
• Like any form of
information
technology, XBRL
requires strong
internal controls.
• Existing IT (and other)
controls can be
adapted for XBRL
applications.
• Daily data backups
• Firewalls
• Periodic user training
• Disaster recovery
plan
• Internal audit review
• Centralized approval
process

10. 9-10