XBRL Tools – An Overview of the Current Status

Copenhagen, Denmark – November 2007

Hugh WallisDirector of Technical Standards

XBRL International Inc.hughwallis@xbrl.org

Welcome!!

Welcome to XBRL Denmark as a full Jurisdiction of XBRL International

Agenda Types of XBRL Implementation

Conformance Types of Vendor and their Products New Initiatives in XBRL Taxonomy Recognition Process Brief Demonstration Questions

Disclaimer: The list of named vendors in this presentation is NOT an exhaustive list – those not mentioned should not be offended

http://conference.xbrl.org/

Types of implementation What does it mean to have “implemented XBRL”?

Include some form of import/export in existing software Write customised libraries for processing XBRL artefacts Write analytic software that relies on source data being in XBRL

format Write stand-alone instance creation products Write stand-alone taxonomy creation products Write tools that process XBRL artefacts created using a subset of

XBRL or a specific taxonomy or for a specific, narrow, purpose For each of the above – provide support for optional modules

such as dimensions, versioning, formulas (in PWD status) etc.

Conformance For each of these types of tools how can we determine

that they have correctly “implemented” whatever it is they claim to have implemented? Limit our discussion to the XBRL claims Conformance suite can only test a tool’s correct consumption (i.e.

checking for “legal” XBRL) To test correct production you need to run a product’s output

through a consuming product which passes the conformance suite

XII provides conformance suites for all its standards which vendors can then use to test their products Such testing is voluntary and claims are not checked by XII (at

this time – there is no “certification” programme in effect currently)

Types of Vendor and their Products Niche XBRL vendors Large ERP type vendors Multi-faceted vendors Middleware vendors Analytics vendors “Filings” vendors “Other” vendors Open Source initiatives

(Note: Consultants and Training organisations are omitted from this list)

Niche XBRL Vendors Allocation Solutions - USA Batavia – Netherlands Corefiling/Decisionsoft - UK Coyote Reporting - USA Dynaxys - USA NeoClarus - USA Rivet Software - USA Semansys - Netherlands Snappy Reports - USA UBmatrix - USA etc.

Niche Vendors’ Offerings Typically have been “in” XBRL for years and built large

part of business around the technology Pervasive throughout the other “categories” of Vendor Taxonomy Creation

Latest generation include collaborative environments

Manual Instance Creation XBRL Validation “Plug ‘n Play” libraries

Frequently incorporated into other vendors’ tools “under the hood”

Report Generation – Rendering of XBRL Custom add-ons

e.g. Upstream validation – FFEIC/FDIC implementation

Large ERP type Vendors Microsoft

FRx, Navision eReport eXelerator - Excel add-in F.R.I.D.A. - Financial Reports Instance Documents Application in Microsoft Office InfoPath

Oracle In Japan for years – now slowly moving to mainstream support, esp. with various acquisitions,

the latest being Hyperion – sponsor of Vancouver Conference next week. SAP

XBRL 2.0 support (output only) in 2002 Not much since but believe they are quietly “getting ready” Recent acquision of Cartesis and Business Objects gives some XBRL capability

IBM Numerous partnerships with Niche vendors including UBmatrix and JustSystems Recent acquisition of Cognos may produce additional XBRL capability

etc.

Issue is the typical “chicken and egg” – customer demand versus product availability conundrum so slow progress in this arena

These companies able to produce rapidly once they believe the time is right

Multi-faceted vendors Fujitsu Hitachi JustSystems Unisys Corp. etc.

Middleware vendors Almost all of the “niche” and “multi-faceted”

vendors plus: Ipedo etc.

Dynaxys has a big XBRL GL focus

ETL (Extract, Transform and Load) vendors are a hole here

Analytics Vendors Business Objects (Cartesis – now SAP) Caseware Cognos (now IBM) CompSci Resources EDGAR Online Highridge Technologies Hyperion (now Oracle) – output only though at this stage Ipedo IRA Rivet (Crossfire) Savanet Template Software etc.

United Technologies Corporation Future 10-Q Process Flow

ERP

Qtr FS in XBRL

Edgar

HFM

XBRL TaggedERP

ERP

Supplemental Data

XBRL Tagged

Total Process Time: 700 Hours

“Filings” vendors American Financial Printing Bowne and Co. Capital Systems Command Financial Press Corefiling (UK and USA) CT Corporation EDGAR filings RR Donnelley TNT Filings (Canada)

“Other” vendors/tools creators Covers other kinds of support such as Big Accounting

Firms’ customised tools Often use libraries or customised products from niche vendors in

combination with some “in house” development Various European Central Banks Various Stock Exchanges

Japan China Korea etc.

SEC “Software as a Service”

Microsoft/RR Donnelley – “FR Live” (in prototype)

Open Source Code created either by individuals or companies

and released under various forms of Open Source licence

Either published privately or on websites like Sourceforge Galexy SEC UBmatrix Various initiatives from China

Sourceforge publications often seek collaborative development input from others

Where to find them Companies that are XBRL consortium members

and have provided information to XBRL International are listed on our website as a service to them and the public.

http://www.xbrl.org/ProductsandServices/

http://conference.xbrl.org/

New Initiatives in XBRL Dimensions Rendering Functions Versioning XBRL GLs

All handled by Working Groups – see http://www.xbrl.org/WorkingGroups

Dimensions Dimensions Specification 1.0 recommended 2006-09-18

Provides standard way of expressing dimensional metadata Builds on existing taxonomy syntax mechanisms Design should facilitate code-reuse when implementing

In use today by numerous projects Vendors already implementing it Spec needs “care and feeding” based on implementation

experience – both errata corrections and “best practices” documentation

Does not address metadata for time and entity dimensions

Task currently assigned to the Base Specification and Maintenance Working Group

Formulas Formula spec designed to

a)Overcome limitations of calculation linkbase

b)Provide ability to express business rules for more complex instance validation – or quality analysis

c)Provide mechanism to infer information from that carried in an instance – “fact producing”

Complex topic – significant discussions on many thorny aspects happening

Dependent on functions work

Formulas (contd.) Very actively under development CR of requirements originally published 2005-

06-21 Completely reworked and a draft specification

published at PWD maturity level 2007-02-01 Feedback solicited from the public and much

received from many quarters 2nd PWD produced and currently being commented on

Rendering Provide a standard method to define an end user

representation of the content of an XBRL instance Builds on Market Analysis document prepared by former

Domain WG Functional Requirements PWD issued 2007-02-01 Feedback received from many quarters Currently evaluating numerous different technical

approaches already implemented or in prototype May eventually produce either a standard specification or

a standard method or a combination of the two

Functions XBRL Functions library XBRL-aware function interfaces Registry – proposal being evaluated

allows additional functions to be defined from time to time encourage further development of the library in a standard way

First version of Requirements are CR – 2005-06-21 First PWD of Specification released on 2006-12-07 Many additional function interfaces needed – participation

is the key

Versioning The only constant in life is change Over time rules change so

Taxonomies change Instances, to be comparable, over time need to be

interpreted in the context of those changes Need to document in a standard way the changes to

facilitate this Becoming important to many parties

COREP/FINREP National Bank of Belgium IASCF US-GAAP Netherlands Taxonomy Project

First PWD should be released within the next week (approval to publish expected from the XSB today)

XBRL GL Not a spec but a Taxonomy Has specific, unusual, modular architecture Supported by GLTFTA and GLIS (parallel FRTA and

FRIS) Achieved RECOMMENDATION Status 2007-04-17 – see

http://www.xbrl.org/GLFiles/ Provides means to represent ledger type information Need to map to existing accounting systems Can benefit from specific software implementations Opportunity to build interface between ledger level and

report level reporting – SRCD – first public working draft released recently

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Taxonomy Recognition Process Process necessary before XII will list your taxonomy on

the XBRL.ORG website - optional Two levels of recognition

Acknowledged Approved

Both require taxonomy to be publicly available, royalty free (although copyright may be retained by the owner)

Acknowledged – requires only XBRL Specification Validity Approved – requires additional “quality” constraints – must

have been “Acknowledged” first Revised (simplified based on feedback) process about to

be published Will need further refining to handle frequently updated

taxonomies See http://www.xbrl.org/TaxonomyRecognition

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Demonstration JustSystems – Financial mashup

Mixing and Mashing Up XBRL with other Financial XMLs

Stock Feeds & XBRL

InstancesTaxonomies

XBRL enhances information at every stage

TaxonomyTaxonomy

Borrower Bank

LoanInfo.LoanInfo.

FinancialStatements

FinancialStatements

DataAcceptance

Credit Decision

Credit Risk Monitoring / Management

LoanApplication Publish

Acceptance

Approval

DataCollection

Web Services

Credit Assessment

Store

AnalysisSupplement

Store

Analysis

InstanceInstance

Store

Validation

MonitoringManagement

Store

XML Object Repository

System-System Boundary ・・・

Man-Man Boundary ・・・

XML ・・・ Boundary をなくすための情報共通基盤

これまでの XML アプリの開発手法の限界

これまでの XML アプリの開発手法の限界

Stock price data XBRL Data Calculated data

これまでの XML アプリの開発手法の限界

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Questions?

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