XBRL Tools An Overview of the Current Status

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XBRL Tools


An Overview of the
Current Status

Copenhagen, Denmark


November 2007


Hugh Wallis

Director 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


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.
-

F
inancial

R
eports
I
nstance
D
ocuments
A
pplication

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 Tagged

ERP

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/


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 2
nd

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


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


Demonstration


JustSystems


Financial mashup

Mixing and Mashing Up XBRL
with other Financial XMLs

Stock Feeds & XBRL

Instances

Taxonomies

XBRL enhances information at every stage

Taxonomy

Borrower

Bank

Loan

Info.

Financial

Statements

Data

Acceptance

Credit

Decision

Credit Risk

Monitoring / Management

Loan

Application

Publish

Acceptance

Approval

Data

Collection

Web Services

Credit

Assessment

Store

Analysis

Supplement

Store

Analysis

Instance

Store

Validation

Monitoring

Management

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

Questions?