The What Why And Who Of Xbrl

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What is XBRL? How is it different than XML? Who is using it today? With the United States Securities and Exchange Commission (SEC) mandating it; stock exchanges around the world using it; and official support from the European Parliament as well as governments of the Netherlands, Australia, Japan and China--the Extensible Business Reporting Language (XBRL) can certainly be considered a global standard for business reporting. In this webcast, These are the slides from teh webcast by Charlie Hoffman, the father of XBRL and Steve Levine, To view the recorded webcast, go to http://www.youtube.com/watch?v=MW-L8evKD2Y&feature=channel_page

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The What Why And Who Of Xbrl

  1. 1. XBRL: The What, Why and Who April 22, 2009 Charlie Hoffman Steve Levine charlie.hoffman@ubmatrix.com steve.levine@ubmatrix.com UBmatrix www.ubmatrix.com www ubmatrix com Copyright © 2009 UBmatrix, Inc.
  2. 2. Presenters Charlie Hoffman Director of Innovation Solutions at UBmatrix; CPA, MBA, Co-architect of the US GAAP Taxonomy for financial reporting and member of the taxonomy creation team; Former Price Waterhouse auditor; Received the AICPA's Innovation User of Technology Award; Graduate of Pacific Lutheran; Author of many white papers and publications including quot;Financial Reporting Using XBRLquot;, quot;XBRL Essentialsquot;, quot;Hitchhiker's Guide to the IFRS-GP Taxonomyquot;. Steve Levine Steve is responsible for marketing and product management at UBmatrix. Most recently, Steve was the VP of Marketing at Cassatt Corp. Previously he was VP of Product Marketing at Oracle responsible for Oracle Collaboration Suite. Steve has held product marketing sales and business development positions at high product, marketing, tech companies including Symantec, Tektronix and ParcPlace Systems. Steve has B.S. Computer Science from Southern Methodist University. Page 2
  3. 3. Agenda g • What is XBRL? • Why is XBRL different than XML? • Who is using XBRL? Page 3
  4. 4. What is XBRL? • eXtensible Business Reporting Language p g gg • A freely available open global standard for exchanging information • Computer consumable business information • An XML-based language • A mandate from regulators across the world • AS Semantic Web metadata format ti W b tdt f t Page 4
  5. 5. XBRL Fundamentals • XBRL is language that lets you build reports / gg y p exchange information • To exchange information using XBRL you need both an instance document & taxonomy – Instance Document – Taxonomy “Just the facts” “Dictionary of concepts +” • Facts • Concepts p • Concept • Resources • Value • Relations • Context Page 5
  6. 6. XBRL Fundamentals • Instance Document – Contains Facts only – Easy to exchange and consume – Data separated from schema <gaap:NetIncomeOrLoss gp contextRef=quot;Period-2009quot; unitRef=quot;US-Dollarsquot; decimals INF >9000000</gaap: decimals=quot;INFquot;>9000000</gaap: NetIncomeOrLoss> <us-gaap:IncomeTaxExpenseBenefit decimals=quot;-6quot; contextRef=quot;D-2008quot; unitRef=quot;USDquot;>4381000000</us-gaap:IncomeTaxExpenseBenefit> <us-gaap:IncomeTaxExpenseBenefit decimals=quot;-6quot; contextRef=quot;D-2007quot; unitRef=quot;USDquot;>4071000000</us-gaap:IncomeTaxExpenseBenefit> <us-gaap:IncomeTaxExpenseBenefit decimals=quot;-6quot; contextRef=quot;D-2006quot; unitRef=quot;USDquot;>3901000000</us-gaap:IncomeTaxExpenseBenefit> gp p Page 6
  7. 7. XBRL Fundamentals Example Available • Taxonomy y Taxonomies • Concepts (XBRL Schema) • US-GAAP • IFRS • Resources (XBRL Linkbases) • CO/FINREP • Labels • GL • References • CSR • Formulas • Risk/Return • Relations (XBRL Linkbases) • Presentation • Calculation <element • Definition name=quot;NetIncomeOrLoss quot; type=quot;xbrli:monetaryItemTypequot; yp y yp substitutionGroup=quot;xbrli:itemquot; xbrli:periodType=quot;durationquot; xbrli:balance credit > xbrli:balance=quot;creditquot;> Page 7
  8. 8. XBRL Fundamentals Page 8
  9. 9. XBRL Fundamentals Presentation Current Assets Cash & Cash Equivalents Short Term Investments References Label GAAP I.2.(a) 現金及び現金等価物 Instructions Ad Hoc disclosures XBRL XML Fact Item Calculation Formulas Cash = Currency + Cash ≥ 0 Deposits Contexts US $ FY2004 Budgeted Page 9
  10. 10. XBRL Fundamentals • Extending Taxonomies g – Discoverable Taxonomy Set (adding to base taxonomy) – Add or prohibit use of concepts, labels, calculations, etc… – Definition linkbase • XBRL 2.1 Family of Specifications – XBRL 2.1 (recommendation adopted) – Dimensions (recommendation adopted) – Formulas (proposed recommendation) – Rendering (candidate recommendation) – Versioning (p g (public working draft) g ) Page 10
  11. 11. XBRL Fundamentals • XBRL – one of the more successful Semantic Web metadata format Web 1.0 Web 3.0 Information Information Page 11
  12. 12. Why is XBRL different that XML? y • XBRL is XML • XBRL expresses semantics • XBRL enables validation of semantics • XBRL expresses multiple hierarchies of relationships • XBRL provides organized, prescriptive extensibility • XBRL enables intelligent connections to information Page 12
  13. 13. XBRL is XML • XBRL documents, concepts & relations , p are expressed in XML Page 13
  14. 14. XBRL expresses semantics p • XML articulates only syntax yy • XBRL expresses semantics / meaning thru Calculations Formulas Labels, etc Calculations, Formulas, Labels XBRL enables validation of semantics bl lid ti f ti • Automated processing of XBRL documents • Expressed in the taxonomy, not hard coded in the application Page 14
  15. 15. XBRL expresses multiple hierarchies of relationships • Separating definition of concepts from relations p g p allow definition of various semantic content thru multiple linkbases XBRL provides organized, prescriptive extensibility • Taxonomies can be explicitly extended by leveraging base taxonomy • Define new semantics without recoding the application • Maintains M i t i comparability at the base bilit t th b Page 15
  16. 16. XBRL enables intelligent connections to information Business Information Provider Business Information If ti Consumer Page 16
  17. 17. Who is using XBRL? g http:www.xbrlplanet.org Page 17
  18. 18. Who is using XBRL? g • Securities Exchanges and Regulators • Banking Supervisors • Standard Business Reporting • Information Hubs Page 18
  19. 19. Securities Exchanges and Regulators g g • Example: US SEC p – 10-Q & 10-K financials and associated notes & disclosures – US GAAP Taxonomy – Beginning this June (top 500 filers) – Also mutual funds and NRSROs (other taxonomies) – htt // http://www.sec.gov/spotlight/xbrl.shtml / tli ht/ b l ht l • Example: Japan FSA – EDINET (Electronic Disclosure for Investors' NETwork) – Taxonomy based on Japan GAAP –L Launched S i 2008 (5 000 companies, 3 000 f d ) h d Spring (5,000 i 3,000 funds) – http://www.fsa.go.jp/en/news/2008/20080317.html Page 19
  20. 20. Banking Supervisors g p • Example: US FFIEC / US FDIC p – 8,000 banks reporting 3,000 elements quarterly – Call Report Taxonomy includes business rules – Went live 2005 – http://www.ffiec.gov/find/callreportdata.htm • Example: Bank of France (Central Bank) – 630 banks reporting average of 12,000 elements semi-annually – COREP / FINREP Taxonomy for Basel II info – Went live 2007 – htt // http://www.banque- b france.fr/fr/supervi/supervi_banc/reporting/reporting.htm Page 20
  21. 21. Standard Business Reporting p g • Example: Netherland Standard Business p Reporting Programme (aka NTP) – Target to reduce administrative burden of reporting by 25% – Focused on reporting of taxes, accounts & economic statistics – Project started in 2004 –C Currently 3rd version of the taxonomy tl i f th t – http://www.xbrl-ntp.nl/english • Example: A t li SBR E l Australia – SBR is expected to save Australian businesses $795 million per year on an ongoing basis – Project started in 2006 – Go Live in 2010 – http://www.sbr.gov.au/content/default.htm Page 21
  22. 22. Information Hubs • Example: Microfinance Information p Exchange – Information exchange between about 100 sources of capital and hundreds of MFIs it l d h d d f MFI – 2 Bottom Line (Financial & Social Impact) Taxonomy – Went live in 2007 – http://www.themix.org/standards/technology • Example: Wacoal – Internal consolidation of 32 legacy systems – Used XBRL-GL Taxonomy XBRL GL – Went live 2003 – http://www.xbrl.org/nmpxbrl.aspx?id=90 Page 22
  23. 23. UBmatrix • Leading provider of XBRL software gp – XBRL processing engine – Enterprise Application Suite – XBRL Database Adaptor (XBRL-DB) – Report Builder – Taxonomy Designer • Customers include the largest XBRL production systems – Keane (SEC prime contractor) – FDIC – Banque de France – Microfinance Information Exchange • www.ubmatrix.com b i Page 23
  24. 24. Where to Learn More • Charlie’s Blog – http://xbrl.squarespace.com • Learn More about XBRL – http://www.ubmatrix.com/company/learn.htm • Case Studies – http://www.ubmatrix.com/casestudies • XBRL International – http://www.xbrl.org • XBRL US – http://www.xbrl.us Page 24
  25. 25. XBRL: The What, Why and Who April 22, 2009 Charlie Hoffman Steve Levine charlie.hoffman@ubmatrix.com steve.levine@ubmatrix.com UBmatrix www.ubmatrix.com www ubmatrix com Copyright © 2009 UBmatrix, Inc.

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