Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
com
1
www.goalgetters.com
Table of Contents
Introduction to XBRL.......................................................................................................3
Additional Resources.......................................................................................................12
Inline XBRL.......................................................................................................................4
Regulatory Compliance.....................................................................................................4
XBRL Benefits...................................................................................................................5
Oracle | Hyperion Solution...............................................................................................5
Today’s Oracle | Hyperion Solution.................................................................................5
Summary and Next Steps..................................................................................................7
XBRL Software Tools........................................................................................................9
2
www.goalgetters.com
Introduction to XBRL
XBRL is a language for the electronic communication of business and financial data
which is changing business reporting around the world. It provides many benefits in the
preparation, analysis and communication of business information and offers opportunities
for cost savings, greater efficiency and improved accuracy and reliability in the use of
business and financial data.
XML is an open standards set of rules for creating structured documents electronically.
The design goals of XML are to emphasize simplicity, generality, and usability over the
Internet.2 Beginning in 1996, XML was compiled by a working group of eleven
members including representatives from Sun Microsystems, Textuality, Netscape,
Microsoft, University of Illinois, World Wide Web Consortium (W3C), Texcel, INSO,
HP, ISOGEN, ArborText, NCSA, Muzmo and Grif, Fuji Xerox Information Systems,
Adobe, Vignette, SoftQuad, DataChannel) 3
A key component in the development of XML came in 2001, when Hyperion and
Microsoft published the XML for Analysis specification, allowing open access to
multidimensional databases from any platform.
XBRL has been developed with a view to becoming the standard information format for
expressing business information. XBRL tags data with standardized descriptions (e.g.
revenue, inventory, cash) that enable that information to be used with many systems for a
wide range purposes. These standard codes can be obtained from a taxonomy, or
inventory of available tags with common definitions. Each reporting jurisdiction will
devise its own taxonomy to reflect specific reporting applications and regional
accounting standards (i.e. IFRS, US GAAP, Canadian GAAP). Logically, there is a limit
to which standards can be achieved, so preparers may need to resort to extensions, or
custom tags, to capture the unique aspects of their industry or type of business. The
result is that data is entered only once and then understood consistently and accurately
thereafter.
3
www.goalgetters.com
Inline XBRL
Inline XBRL (iXBRL) is a standard for embedding XBRL fragments into an HTML
document. It was created to avoid the need to create visual renderings of XBRL instance
documents. The objective is to provide documents which can be viewed in a browser
while making use of XBRL tags which can be processed automatically by consuming
applications. Inline XBRL satisfies the need to work in a "human readable" document
while utilizing the "computer readable" XBRL standard.4
Regulatory Compliance
In 2005, the US Securities and Exchange Commission (SEC) launched its XBRL
Voluntary Filing Program. Approximately fifty companies, representing more than $1
trillion of market value, have joined the SEC's test group and have agreed to voluntarily
submit reports.5
In December 2008, the SEC mandated XBRL’s use by large public companies and
mutual funds for reporting financial statements beginning in July 2009, and all public
companies must comply by June 2011.
The FDIC and European Union Central Banks, with Basel II (standards for minimum
capital requirements for banking organizations), have committed to an XBRL reporting
standard.8
Other regulators around the world, including the Australian Taxation Office, Chinese
Securities Regulation Commission, Dutch Tax Authority, UK Financial Services
Authority and Bank of Japan are also adopting XBRL-enabled processes and systems to
collect, aggregate, validate and use information.
4
www.goalgetters.com
XBRL Benefits
The benefits of adopting an XBRL reporting process versus current reporting practices
are:
Reduced preparation time and cost through automated data collection.
Increased confidence in data by limiting the risk of erroneous data entry.
Enhanced analytical capabilities.
Accelerated financial decision making.
Broader information availability.
Adaptability to changing reporting requirements.
Increased transparency.
5
www.goalgetters.com
perform XBRL tagging at several levels – within Microsoft Office, within EPM System
reports or in the datasource metadata. The solution lets users modify or extend
taxonomies before the mapping process as well as support multiple taxonomies. XBRL
instance documents can also be created and validated before submission.
DM features include:
• A taxonomy extension and management tool for customizing taxonomies.
• The ability to load and map any XBRL taxonomy.
• An XBRL validation tool that will check the XBRL calculations against the
calculations from Oracle’s EPM applications and identify any errors.
• A drag and drop feature for tagging new accounts.
• Tagging at the application metadata level or report level. When XBRL tags are
created at the metadata level (i.e. application account level) the tags become
automatically available in any new report.
DM's common foundation and tight integration with the Oracle EPM system reduces the
total cost of ownership by providing a single point of maintenance - a unique feature that
point solutions and non-integrated EPM suites cannot match.
6
www.goalgetters.com
For a full listing of software tools provided by XBRL International and other sources for
instance document creation, taxonomy creation and XBRL Validation, see the Table
“XBRL Software Tools” at the end of this document.
For those organizations wishing to explore XBRL further, here are the suggested next
steps:
7
www.goalgetters.com
Solicit input and survey internal business processes in order to identify potential
business reporting areas that may benefit from XBRL.
Solicit input and survey external processes and key partners requirements.
Consider pilot programs for XBRL enabling key internal processes.
Keep up to date on the latest XBRL developments.
TGG’s Project Methodology - The Solution Workbench - contains templates and tools to
address our client’s XBRL requirements.
To learn more about XBRL, and how TGG can help you meet your XBRL needs, contact
Dean Wilson at dean@goalgetters.com.
8
www.goalgetters.com
9
www.goalgetters.com
10
www.goalgetters.com
11
1
Additional Resources
What is XBRL?, http://www.xbrl.ca/index.php?option=com_content&view=article&id=50&
Itemid=57&lang=en
2
XML 1.0 Origin and Goals. http://www.w3.org/TR/REC-xml/#sec-origin-goals.
3
XML Recommendation, at http://www.w3.org/TR/1998/REC-xml-19980210.
4
Inline XBRL Approved as a Recommendation by XBRL International, at
http://xbrl.us/News/Pages/archive/20100527update.aspx#d1.
5
Who’s filing with SEC now?, http://www.tryxbrl.com/Learn/XBRLFAQ/tabid/56/Default.aspx
6
Canada’s securities regulators launch eXtensible Business Reporting Language (XBRL) voluntary filing program,
http://www.osc.gov.on.ca/Media/ NewsReleases/2007/nr_20070119_csa-xbrl-launch.jsp
7
XBRL in Canada's Capital Markets, David Wilson, Chair, Ontario Securities Commission, 2007.
8
Corporate Backgrounder, UBmatrix, Inc.