XBRL Europe week June 1, 2012 - Madrid, Spain Practicing XBRL Formulae in the Bank of Spain Speakers: Víctor Morilla Moira Lorenzo Manuel Rodríguez.

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Presentation transcript:

XBRL Europe week June 1, Madrid, Spain Practicing XBRL Formulae in the Bank of Spain Speakers: Víctor Morilla Moira Lorenzo Manuel Rodríguez

WHAT DID WE DO? WHAT DO WE DO? HOW DO WE DO? Methodology Time & Team CONCLUSIONS XBRL Formulae in Bank of Spain XBRL Formulae in Bank of Spain

WHAT DID WE DO? Before (from 2005 to Summer 2008) Sender XBRL instance Before (from Summer 2008 to March 2012) XBRL FRONT-END XBRL Instance (only valid instances) Facts in XBRL instance Validations against information in a database Ex: previous periods XBRL Basic validations & calculation linkbase Ex: A=B+C A=B+2C 1 Legacy Database 5% Business rules – No XBRL validations 2 Ex: A = B * C Si A=0 => B = 5*C/D 80% 3 15% Sender XBRL instance XBRL FRONT-END XBRL Basic validations 1 5% Business rules – XBRL Formulae validations XBRL Instance (only valid instances) Facts in XBRL instance Validations against information in a database Ex: previous periods Legacy Database Business rules – No XBRL validations 2 Ex: A = B * C Si A=0 => B = 5*C/D 80% 3 15% Errors report

Sender XBRL FRONT-END Errors report 100% WHAT DO WE DO? Now XBRL instance XBRL Basic validations 1 Business rules – XBRL Formulae validations Facts in the same XBRL instance Validations against information in a database: Other XBRL instances Atributes External information 2 3 XBRL Instance (only valid instances)

HOW DO WE DO? - Methodology Business rules Analysis (1) Described in terms of reports cells (2) Rules classification and encoding Consistence asertions, value asertions and existence asertions To unify: One formula resolves many rules (3) There is information contained in several instances (4) Threshold and rounding (concepts monetary in thousands of euros) Developing linkbase & testing (including developing errors message) Documentation & services Documents Reference numbers & classification Formulae linkbase Formulae Linkbase + corrected Bussines rules Analysis Developing linkbase Instance generation & testing + Services

HOW DO WE DO? – Time & Team About 400 XBRL Formulae for business rules About 120 working days = 5,5 months/person (analysis, development and testing)  3,5 XBRL Formulae/day/person 40 %30 % TrainingDebugging Effective work About 75,000 XBRL Formulae (most of them automatically migrated from the legacy sistem) About 100 XBRL formulae in 8 days/person (analysis, manual development and testing)  12,5 XBRL Formulae/day/person 2 % 5 % 33 % 40 % 20 % First steps ( COREP project in 2008)Now 40 % 30 %

CONCLUSIONS All Bank of Spain Business rules expressed as XBRL Formulae

Practicing XBRL formulae in the Bank of Spain Thank you for your attention Víctor Morilla Moira Lorenzo Manuel Rodriguez