Post on 30-Dec-2015
transcript
The History of XBRL
Mike Willis, CPAPartner, PricewaterhouseCoopers, LLPFounding Chairman, XBRL Internationalmike.willis@us.pwc.com
Symposium on Information Systems AssuranceIntegrity, Privacy, Security & Trust in an IT Context
October 20-22, 2005
Historical Markers Overview Metrics
Jurisdictions Members
1. Specification
2. Taxonomies
3. Tools
Looking Forward What you should do next
3 keys to market adoption
The early question….
What problem is it
that you think I have
that you are trying to solve?
Typical business objective
“Increase production and throughput by leveraging the large warehouse engine. Tightly integrate critical business functions and align business processes to enhance flexibility, increase efficiency and productivity.”
Does this sound familiar?
“Leveraging the warehouse engine”
From proprietary to infrastructure
1. Rail Road
2. Telegraph
3. Electricity
4. Telephone
5. Shipping
6. Product
7. Networking
8. Internet
9. Information
A. RJ 11
B. 40’ x 8.5’ x 8’
C. UPC
D. HTML / SOAP / Web Services
E. 4’ 8.5”
F. RJ 45
G. Rosettanet, MDDL, XBRL
H. Morse Code
I. 120V, 50Hz
Match the infrastructure to the standard
Candy?
Anticipated Adoption Curve….. What do you think it looks like?
2000 2001
2002 2003 2004 2005 2006Time
XXXXXX
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Calendar of Major Events
The First time……..
Calendar of Major Events
The Morgan Stanley Session
Calendar of Major Events
XBRL Specification Timeline
XBRL 1.0
XBRL 2.0
XBRL 2.0a
XFRML TulipXBRL
2.1
10/99 6/00 12/01 31/125/0311/02
BostonMtg.
12/00
TampaMtg.
XMLSchema
5/01
ExternalDeadline
on 2.1XML
Linking
2000 2001 2002 2003
XML
XML Link
1998
XBRL2.1
XBRL International Jurisdiction Growth
2000 2001
2002 2003 2004 2005 2006Time
Jurisdictions
5
10
15
20
October, 2001AustraliaCanadaGermanyIASBJapanNetherlandsUK US
August, 2002New Zealand
March, 2004IrelandSpain
Provisional JurisdictionsOctober, 2005BelgiumDenmarkFranceKoreaPolandSouth AfricaSwedenUAE
XBRL Membership Growth
2000 2001
2002 2003 2004 2005 2006Time
Members
100
200
300
400
1380
130
210
275
300
400
XBRL Taxonomy Growth
2000 2001
2002 2003 2004 2005 2006Time
Public Taxonomies
June, 2001General Ledger
January, 2004UK GAAP 2.0Canada GAAP
June, 2004IFRS GAAPNZ GAAPUK GAAP
February, 2005US GAAP C&IUS GAAP BankUS GAAP InsSEC CertificationMgmt ReportAccountants ReportMD&A
July, 2005China FrameworkIFRS GAAP US GAAP Invest Mgt
Nov, 2005General Ledger
This does not include any private taxonomies such asthose prepared for statutorypurposes.
XBRL Tools Growth(Representative Listing)
2000 2001
2002 2003 2004 2005 2006Time
Tools
Caseware
Creative Solutions
DynAccSys Xabra
Fujitsu XWand
J2R Batavia Data Driver
Hitachi CBRP
Metapraxis
Microsoft Business Solutions
Rivet Software
UBMatrix Automator ProDecisionSoft True North
Allocation SolutionsEdgar-Online IMetrix
Hitachi XimbaHitachi XiRute
IBS Open Digital ReportingIpedo EII
Oracle XBI Software
UBMatrix Tool KitUBMatrix Converter
Software AG Hyperion
Navision
XBRL SolutionsIBMatrix
FujitsuSAP
Snappy Reports
High Ridge Technologies
FR Solutions
Covarity
SavaNet
FDIC VendorsDBI Financial Systems, Inc.FinArchFRS Global Financial Reporting & AnalyticsIDOM, Inc.Information Technology, Inc.Fidelity Regulatory SolutionsJack Henry & Associates Inc.
Adobe
Core FilingsSemansys IntegratorSemansys Analyzer
Semansys Deployment Manager
Semansys Composer
Carthesis
Edgar-Online IMetrix
Key XBRL Canada Milestones January, 2001 – XBRL Canada (XBRL-CA) joins XBRL
International as an established Jurisdiction June, 2002 – XBRL-CA hosts the 5th XBRL International
Conference in Toronto January, 2004 - TSX Group Inc. (TSX Group) becomes
the first Canadian public company, as well as the first publicly-listed stock exchange globally, to publish its annual financial results in XBRL.
November 2004 - XBRL-CA publishes a bilingual Canadian GAAP Taxonomy for Primary Financial Statements
CACA UKUK
IEIE
AUAU
NONO
JPJP
NZNZ
NLNL DEDE
CNCN
Tax Authorities
PilotPilot Committed
Committed
USUS
UKUK
JPJPESES
SESE
CNCN
ZAZA
AUAU
DEDEDKDK
Financial Banking Regulators
PilotPilot Committed
Committed
KRKR
SGSG
FRFR
NZNZ
NLNL
LuXLuXPortug
al
Portugal
BEBEEU CEBSEU CEBS
Exchanges & Equity Regulators
Sao PauloSao Paulo
NZSENZSEASXASXJohannesburgJohannesburg
ShenzenShenzen
EuroNextEuroNextKOSDAQKOSDAQ
TokyoTokyo
SingaporeSingapore
SWXSWXLuxLux
Pilot LiveEval
TSXTSX
OBXOBX
LSELSECSECSE
DeutscheBörse
DeutscheBörse
Taipei
SECSEC
Korea
Korea
ShanghaiShanghai
X
XX
X
The early question………….?
Where do the analysts who cover your company obtain the data used to populate their valuation models on your company?A. My company financial statements
B. My press releases
C. My Public Securities filings
D. My Investor Relations Team
E. A third party selling data tagged in a foreign country
Some Consequences (there are more)
An Example
Anticipated Adoption Curve….. What do you think it looks like?
Time
Public ExpectationsMetcalfe’s Rule
Market Adoptions
Uti
lity
What you should do next Get more involved! Academics – research questions
1. Assess distortion within current supply chain
2. SOA compliance penetration
3. Collaborate on public reporting taxonomies
Practitioners1. External Reporting Assessments
2. Internal Process Assessments
3. Collaborate on public reporting taxonomies
XBRL Canada Next Steps October 31 2005/November 1 2005 - XBRL-CA to
hold 1st Canadian XBRL conference for Financial Services
November 1 - Public Day seminar www.xbrl.ca/e/events.html/
For Membership information: XBRL Canada www.xbrl.ca XBRL US www.xbrl.org/us
The History of XBRL
Mike Willis, CPAPartner, PricewaterhouseCoopers, LLPFounding Chairman, XBRL Internationalmike.willis@us.pwc.com
Symposium on Information Systems AssuranceIntegrity, Privacy, Security & Trust in an IT Context
October 20-22, 2005
=IMetrix(Company,Taxonomy,"usfr-pte:Assets","A",LastFiscalYear)
‘Total Assets’ = IMetrix(Company,Taxonomy,"usfr-pte:Assets","A",LastFiscalYear)
=IMetrix(Company,Taxonomy,"usfr-pte:TotalCurrentAssets","A",LastFiscalYear) / IMetrix(Company,Taxonomy,"usfr-pte:CurrentLiabilities","A",LastFiscalYear)
‘Current Ratio’ = IMetrix(Company,Taxonomy,"usfr-pte:TotalCurrentAssets","A",LastFiscalYear) / IMetrix(Company,Taxonomy,"usfr-pte:CurrentLiabilities","A",LastFiscalYear)