1 COLTRAST Collection and Tracing of Statistical Data CoRD Task Force

2 Two Objectives l Examine the possibilities offered by XML- based technologies in reducing the reporting burden on enterprises. l Analyse the potential of electronic traces as a source of secondary statistical data

3 XBRL l Project will focus on XBRL (eXtensible Business Reporting Language) n Financial reporting by enterprises n Implemented in many accounting and financial software packages n Accepted by the business community as a financial reporting standard Objective 1 - XML possibilities

4 IAS l Council Regulation n 7000 listed European companies must adopt IAS (International Accounting Standards) by 2005 n Smaller companies will follow n IAS aligned to standards of US and other major economies l Single accounting standard with XBRL as preferred reporting standard Objective 1 - XML possibilities

5 Interested Parties l CMFB (Committee on Monetary, Financial and Balance of Payments Statistics) n Recommended investigation of XBRL l Eurostat Directorates n B5 - International Trade in Services, Direct Investments and Balance of Payments l International transactions n D1 - Methodological co-ordination, Structural indicators, Classifications and registers l Accounting and Statistics project Objective 1 - XML possibilities

6 Possible Project Partners n National Statistical Institution n Enterprise using XBRL n Software company with expertise in XBRL and familiarity with IAS n Utilise existing solutions l STIPES l XML4DR Objective 1 - XML possibilities

7 Retail Trade - Sources of Traces l Retail commercial databases n Head office (retail chains) n Market research from one or more enterprises n Professional organisations (e.g.Tourism) n EFTPOS (Electronic Funds Transfer at Point of Sale) n Cash register or scanner data l Project will focus on scanner databases Objective 2 - Electronic Traces

8 Scanner Data Capture l Bar-codes n EAN (European Article Number) and UCC (Uniform Commercial Code) - US standard l EAN.UCC - International bar-code standard l 900,000 users in 101 countries n Co-relation between EAN codes and ESS classification codes Objective 2 - Electronic Traces

9 Scanner Database n Product identification n Source n Purchase price n Selling price n Tax rate n Tax collected n In-house history n Method of payment Objective 2 - Electronic Traces

10 Statistical Domains n Consumer Price Index n Household Budget Surveys n Social Statistics n Regional Statistics Objective 2 - Electronic Traces

11 Possible Project Partners n Large retail chains using EAN standard bar- codes n National Statistical Institution n Software company with expertise in scanner databases n Utilise existing solutions l XML4DR (XML for Data Reporting) - IQML l STIPES (Statistical Inquiries from Popular European Software) - SERT Objective 2 - Electronic Traces

12 Objective 2 Electronic Traces Confidentiality Objective 2 Electronic Traces Confidentiality l Ownership of data n Legal issue l Payment details n Aggregated data only l Competition n Publication of results should not compromise competition

13 COLTRAST Summary l XBRL n Automated extraction of financial data from company reports n Business Statistics, Balance of Payments, National Accounts l Electronic Traces n Automated extraction of “real time” and timely data n CPI, Household Budgets, Social Statistics