1. Welcome to the Investor Services and College &
University Business Libraries (CUBL) Sections of SLA Business &
Finance Joint Program Speakers: Rita Ormsby and Louise Klusek, The
William & Anita Newman Library, Baruch College, CUNY and
Courtney Cowgill, Chief Financial Officer and Corporate Treasurer
of Oceanic Exploration Company Sponsored by Ebsco Information
Services and InfoCurrent June 5, 2007 Denver Colorado
2. What is XBRL? XBRL? XBRL, c'est quoi? Wat is XBRL? QU ES
XBRL? Vad r XBRL? is a question being asked around the world
3. Baruchs Center for Corporate Integrity has sponsored several
sessions on XBRL
4. Slides from recent XBRL conference at the University of
Kansas are available
5.
6. XBRL and Financial Reporting SLA Investment Services Section
College & University Business Libraries (CUBL) Section June 5,
2007
7. Todays Overview
What is XBRL?
The SEC and XBRL
XBRL in Use
The Future
8. What is XBRL?
eXtensible Business Reporting Language
Metadata for financial statements
Based on approved taxonomies
9. Using XBRL Data
View and manipulate
Ask what if questions
Construct graphs
Compare companies against peers
View information in any language
Change currency
View under different accounting conventions
10. XBRL International
Consortium of over 2000 accounting firms, corporations,
government entities, academic institutions
Facilitated by American Institute of Public Accountants
Promotes the development and use of XBRL
11. SECs Standard Setting
$ 54 Million to improve EDGAR
Complete taxonomies for all industries by September 2007
Build improved analytical tools
Mandate filing with XBRL
12. The SEC Program Today
Voluntary XBRL Filing Program
originally 17, now 30 companies
Executive compensation data tagged
beginning 2Q, 2007
13. SEC Voluntary Filing Program
3M Company Anadarko Petroleum Automatic Data Processing Altria
Group, Inc. Bowne & Co. Inc. Brazilian Petroleum Corp.
Bristol-Myers Squibb Comcast Corporation Commonwealth Edison
Crystal International Travel Group, Inc. The Dow Chemical Company
EDGAR Online Inc. Exelon Corporation Exelon Generation Co
Fastenal Co. Ford Motor Company Ford Motor Credit Company
General Electric Company Gol Intelligent Airlines, Inc. Infosys
Technologies Microsoft Corporation Old Mutual Capital, Inc. PECO
Energy Company PepsiCo, Inc. Pfizer, Inc. R.R. Donnelley & Sons
South Financial Group, Inc. United Technologies
Xerox Corporation XM Satellite Radio Holdings
14. SEC Financial Report Viewer
15. The FFIEC Program
FFIEC requires quarterly Call Reports filed in XBRL (October
2005)
Over 8,200 banks report to Central Data Depository at
www.FFIEC.gov/FIND/
Validation and accuracy improved
16. Investment Company Institute
XBRL taxonomy for Risk/Return Summary (N-1A) (released January
2007)
Proposal to join the SECs voluntary filing program (submitted
March 2007)
17. XBRL Around the World
Taxonomy Development
US GAAP
IFRS (International Financial Reporting Standards)
COREP (Common Reporting)
National GAAP
Complete in Japan, Germany, Korea & Sweden; Under
development in Canada, China, Ireland, New Zealand, Spain, Thailand
& UK
18. Canadian Securities Administrators
Voluntary filing program to start May 2007
Uses Canadian GAAP taxonomy
XBRL Canada Blog at http://www.zorba.ca/xbrlblog.html
19. XBRL Pilot Programs
Japan FSA & Tokyo Stock Exchange
Full financial statements for all listed companies in 2008
National Bank of Belgium
Commerical & industrial companies to file beginning April
2007
Shanghai Stock Exchange
20. Other XBRL Users
EDGAR Online I-Metrix
XBRL for Earnings Releases
Sustainability Reports GRI G3
Tax Returns UK-HMRC and Dutch Tax Authority
CEBS Basel II Reporting
21. The Future
Change in marketplace for SEC based fundamental data
More accurate, broader, more effective and less expensive
research coverage
Gartner, September 28, 2006
22. Steps for Librarians
Keep abreast of SEC moves
Test free SEC tools
Talk to your data vendors
23. Thank You Louise Klusek, Assistant Professor, Newman
Library, Baruch College, City University of New York
[email_address]