XBRL: ebusiness for the business reporting supply chain

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• XBRL e-business for the business reporting
  supply chain

David Hardidge Principal, Ernst Young
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Outline

• What problem is XBRL solving?
• Benefits to participants
• Digital reporting
• Links to other publishing XML Initiatives
• Implementation issues
• Where to for Australia?

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Today A Convoluted Information Supply Chain
Credit Application
Banks
Text
Text
Regulatory Filings
Text
10-K Annual Report
Report
Report
Statements in Print
Report

Statement in PDF

Operational Data Stores
Statement on Web
Text
Investors
Corp.
Auditor
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XBRL Working Model Planned Specifications
The Business Information Supply Chain
External
Internal
Investment
Business
Processes
Processes
Financial
Financial
and Lending
Operations
Reporting
Reporting
Analysis
Financial
Publishers
Companies
Investors
Participants
Participants
and Data
Aggregators
Trading
Management
Auditors
Regulators
Partners
Accountants
Software Vendors and Consultants
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XBRL Interoperability Multiple Uses
G/L Package
ERP
XBRL
Custom Developed Systems
Other Sources of Information
XBRL
Other Sources of Information
Other Sources of Information
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XBRL Documents can be

• Prepared efficiently
• Exchanged reliably
• Published more easily
• Analysed quickly
• Retrieved by Investors simply
• Enabling smarter investments

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XBRL Design Requirements

• Business
• Need of end user take precedence
• Part or all document
• Must be extensible
• Political
• Support any language and accounting standards
• Technical
• XML-based design
• Represent content not presentation

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XBRL Design Decisions

• Allow discussion of structure separate from
  instances of structure
• Instance documents
• Collection of facts
• Taxonomy documents
• Collection of concepts
• XML
• DTDs
• XML Schema
• Namespaces
• XSL

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Trends

• Universality of Content
• Computers everywhere
• E.g. stock market data everywhere
• News bulletins
• Times Square
• Continuous Content
• Personalisation of Content
• Customise content package

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Digital Reporting

• Reporting information is fundamental to every
  business
• Financial information is a digital asset
• a form of digital media
• Digital Reporting is the communication of
  digital assets

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Communication channelsEstablished / being
established(Publishing)

• RIXML / IRML
• Investor Relations
• NewsML
• Intern. Press Telecomm. Council
• Weather Reports
• Sports
• News Items
• XBRL puts financial content into context

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Communication channelsEstablished / being
established (Publishing)

• MDDL Market Data
• PRISM - Publishing Requirements for Industry
  Standard Metadata"
• ICE - Information Content Exchange
• Open eBook Forum

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Communication channelsEstablished / being
established

• FpML - Financial products Markup Language
• Balanced Scorecard Consortium
• TIGERS - Tax Information Group for EC
  Requirements Standardization
• Accord
• HR-XML
• LegalXML
• ebXML
• eBis-XML
• Biztalk
• UN-EDIFACT
• EDICFICAS

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Where we are (XBRL.org)

• Over 85 members
• Initiatives in over 20 countries
• First international meeting London, Feb
• AICPA US GAAP CI taxonomy
• Morgan Stanley Dean Witter
• 10-K (Annual Report) Demo lodged SEC
• Draft IAS taxonomy
• APRA Statistics Project

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Software / Tools

• Financial system (Navision)
• Accounting Packages (Accpac)
• Report writer (CaseWare, FRX)
• Software Developer Tools
• Taxonomy Builder
• Instance Document
• DOM

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Where to for Australia?

• XBRL Australia
• Australian Accounting Bodies
• XBRL-AU, XBRL-AU-NEWS mailing lists
• Involvement by business reporting supply chain
• Working groups
• Strategy, Liaison outreach
• Domain Accounting knowledge
• IAS taxonomy
• Developers
• PR / Communications

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Outline

• What problem is XBRL solving?
• Benefits to participants
• Digital reporting
• Links to other publishing XML Initiatives
• Implementation issues
• Where to for Australia?

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Useful References and Additional Information

• Useful References
• Journal of Accountancy article, XBRL How to
  Turn Data Into Strategy
• http//www.aicpa.org/pubs/jofa/aug2000/zarowin.htm
  
• CFO Magazines article, How the Web was Won
  about Online IR
• http//www.cfonet.com/html/Articles/CFO/2000/00FEh
  owt.html
• Scientific American article, XML and the
  Second-Generation Web
• http//www.sciam.com/1999/0599issue/0599bosak.html
  
• Digital Reporting Why Every Company Is a Digital
  Media Company
• http//www.egroups.com/files/xbrl-public/Conferenc
  eDocuments/
• IASCs Business Reporting on the Internet
• http//www.iasc.org.uk/frame/cen3_26.htm
• XBRL Website
• http//www.xbrl.org
• For additional information, please contact
• David Hardidge
• 07 3011 3104 or David.Hardidge_at_ErnstYoung.com.au

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• XBRL e-business for the business reporting
  supply chain

David Hardidge Principal, Ernst
Young David.Hardidge_at_ErnstYoung.com.au