For XBRL Neal Hannon, XBRL Education co-chair, Bryant College

The Dream Without a dream, progress is not possible Business Reporting in XML Tag once, render many Reduced time, cost and increased accuracy

The Technology US GAAP 1.0 Specification Works now –Navision –XBRLSolutions Many taxonomies under development –13 including IAS

The Simplification Save as XBRL Archives of XBRL Reports XBRL Lite – 300 tags for each industry Automated tools for customization

The Acceptance Happens When: Banks require XBRL Governmental agents accept XBRL Financial Analysts request XBRL Internal users find XBRL facilitates consolidations

Change in the supply chain is powerful The EDI model The e-business model The efficiencies driven from / in supply chains are significant. Not all will survive. Each has an EDI model that is costly. Channel has a common model

The Range of what is under development today………... ACORD ANX RosettaNet FpML CHEMX HR CRM AM “Horizontals” (Infrastructure) there are others….. “Verticals” (Industry Supply Chains) there are others……. e-business

What is XML? Published as a recommendation by the W3C (World Wide Web Consortium) in early Uses tags to give context and structure to the content Provides a common way for disparate systems to exchange specific information (application integration) Provides a means to separate data from style (so a single source can be output for multiple uses) Separates data from logic of applications (so that it can be reused for multiple purposes). e-business

So when will this happen?? A.After I retire. B.Before I retire but too late for me to have to worry about it. C.Sooner than I want to admit, but I still have enough time to procrastinate. D.Next five years. E.Next two to three years. F.Never. e-business

CFO Magazine on Investor Relations " The explosive growth of the internet is not only changing the way companies conduct their business, it also promises to forever alter the way they communicate business performance. … Information availability may soon determine which companies benefit from market insight and which are hurt by market ignorance.” - CFO magazine, February App to fin rep

Another Quiz? What word goes in the space? “_____?____ is the language of business” “_____?____is the language of e-business” XBRL - Why Accounting XML

The Internet Enablement of Reporting XBRL = eXtensible Business Reporting Language A new economy language for business information, reporting and analysis. App to fin rep

XBRL Working Model: Planned Specifications External Financial Reporting Business Operations Internal Financial Reporting Investment and Lending Analysis Processes Participants Auditors Trading Partners Investors Financial Publishers and Data Aggregators Regulators XBRL for G/L Journal Entry Reporting XBRL for Regulatory Filings Today XBRL for Financial Statements XBRL for Audit Schedules XBRL for Credit Filings XBRL for Business Event Reporting Software Vendors Management Accountants Companies XBRL - What

What software ‘sees’ is the differentiator and drives benefits (here is an example)..\..\..\Program Files\XBRL Demo\XBRLDemo.xls

So What??…. ‘show me the money’ Reduces cost to publish information Significantly reduces cost to use the information Increases the speed of use and related decisions New concepts of using existing financial information…. –Virtual documents –Comparison of all components, including disclosures –Linkage to ‘related’ topics XBRL - Why

What might this enable? User reporting/analysis on a personalized basis. Agents monitoring key indicators. –What is your temperature and blood pressure right now? More relevant reporting in the dawning of the ASP/outsourcing environment. –How many routers did Cisco manufacture last year? Virtual closings. Enhanced insights and transparency. Quicker, Cheaper and faster decisions. XBRL - Why

The Growing XBRL Family