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0 Versioning Panel John Turner Campbell Pryde Maciej Piechocki …. And YOU!

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Presentation on theme: "0 Versioning Panel John Turner Campbell Pryde Maciej Piechocki …. And YOU!"— Presentation transcript:

1 0 Versioning Panel John Turner Campbell Pryde Maciej Piechocki …. And YOU!

2 Know our scope! Versioning in an XBRL sense is all about taxonomies. Instance documents? Meh. Too easy. You are on your own. 1

3 Change comes to us all What does versioning mean if you are: –A Corporate Filer? –A Regulator? –An Analyst? –A Taxonomist? –An XBRL vendor? –A reporting vendor? –A data vendor? 2

4 Corporate Filer What changed in the accounting literature that I need to take account of in preparing my document? What changed in the taxonomy and how does it impact me? How do I communicate changes in my extension taxonomy, without impacting comparability? How quickly can it be done? 3

5 Regulator Have filers updated their disclosures? How have filers altered their disclosures, given the changes that have happened? Are filers complying with current disclosure law? What changes do I need to make to my internal reporting framework so that I dont lose the time series? 4

6 Analyst Whats broken? Which companies have become more comparable? Which ones are now less comparable? Which changes impact my analytics? Which changes impact my analytics in a material fashion? 5

7 A Taxonomist What do I need to change? Why? How do I best achieve that, with minimal breakage? What do I need to communicate to my community of interest? 6

8 An XBRL Vendor How do I use versioning metadata? How do I present it to my users? How much can I automate without having to ask my users? How much do I have to spend to support the versioning strategies employed by taxonomists that use my tools? 7

9 A reporting vendor? Can I use this metadata in my own systems? They have NOTHING to do with XBRL whatsoever! 8

10 A Data Vendor? DONT CHANGE ANYTHING!!! 9

11 A Data Vendor? What has changed in the rules? How have they been implemented? What concepts have changed for individual companies? How do I best protect my investment in my time series? 10

12 Three Things What is the same? (Namespaces) What has changed? How and Why? 11

13 What do we have? 12 ? ? ?

14 What do we have? 13

15 What do we have? 14

16 We could go on! Versioning is a bit of a conundrum – everyone wants something, but we have very limited input into the process. XML is no help. There *are* ways around most aspects of Versioning via techniques like slipstreaming. However, it is very clear that we need a consistent spec, and interoperable tools. 15

17 Since We have alternative approaches: –FDIC –APRA –And every other project And even an alternative Specification from SBR All of which is probably an indication that weve not cracked this yet! 16

18 What are the next steps? We need your input and your focus on this issue. We probably need to re-examine the XII Versioning effort pretty substantially This is not *that* hard, but it does take lots of effort, and volunteers are a tough master. 17

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