Proprietary and Confidential © 2005 EDGAR Online, Inc. All rights reserved. Global Financial Reporting…. Advancing Data Sharing Architecture with…. Extensible Business Reporting Language (XBRL) Presented by: Liv Watson, EDGAR Online Inc Vice President of Global Strategy

1 Agenda XBRL International Adoption Q & A

2 Countries seeking convergence with the IASB on pursuing adoption of IFRSs Countries that require or permit IFRSs UK CA SPUS AU NZ IR JP KR BE VZ CO BR AR PT RU SG HK NO SE PL FI IT CN IN LB CZ UA LU IAS B UAE NL TR GR MT CH FR SI HU AT Established Jurisdictions Provisional Jurisdictions in Construction & in Project DE DK ZA XBRL …. the World is getting smaller.

3 XBRL International Governance AU Paul Phenix CA Bill Swirsky DE IASB Kurt Ramin IR Conor O’Kelly JP Nobuyuki Sambuichi NL Jan Pasmooji BE Luc Dufresne SP Federico Florez UK Chris Rodgers US Dan Roberts Makoto KoizumiWalter Hamscher John Turner Arlene Thomas Mike Willis At Large Representatives (9) Established Jurisdiction Representatives (12) ISC Representatives NZ DKFRPLSA Provisional Jurisdictions International Steering Committee Chair Kurt Ramin 1 st Vice Chair Bill Swirsky 2 nd Vice Chair Michael Ohata Immediate Past ISC Chair Vacant ISC Members Federico Florez Nobuyuki Sanbuichi Executive Committee (7 members) Mike Bartell Liv Watson SE KR Yong Moon Lee UA E Thomas Krantz, Chairman, WFE, France Jose Maria Roldan, Bank of Spain Don Nicolaisen,former chief accountant at the US SEC Colleen Cunningham, President and CEO of FEI Guy Weyns, Morgan Stanley Eiichi Watanabe, Tokyo Shoko Research, Japan Manoj Vaish, Dun & Bradstreet, India James Fallows, Atlantic Monthly’s National Correspondent Board of Advisors Tom ChurchMichael Ohata

4 Business Operations Processes Internal Financial Reporting Participants Auditors Trading Partners Investors Financial Publishers and Data Aggregators Regulators Software Vendors Management Accountants Entities (Pubic Companies, SMEs, Public Sector) Central Banks External Financial Reporting Economic Policymaki ng Investment, Lending, Regulation Global Business Reporting Supply Chain XBRL Taxonomies and Extension Taxonomies (statistics, central banks, tax, others) XBRL GL Journal Taxonomies XBRL GAAP Taxonomies, IFRS-GP, US-GAAP, etc.

5 ERP “In-house” Accounting DocumentsOther Sources Spreadsheets Printed Financials Regulatory Filings Internal Reports Analytics Web sites Investors Creditors Analysts Regulators Management XBRL XBRL Usage and Impact on Stokeholds

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8 Standardization Presentation Cash & Cash Equivalents Validation What is so different about XBRL? Label Cash Equivalents And Short Term Investments XBRL Item XML ItemXBRLItem<200> Presentation Comptant et Comptant Equivalents References GAAP I.2.(a) Instructions Ad Hoc disclosures Calculation Cash = Currency + Deposits Contexts US $ FY2004 Budgeted Formulas Formulas Cash ≥ 0

9 Taxonomy, Data & Instances Unit Context

10 Taxonomy Reference Linkbase PropertyPlantAn dEquipment IAS 1 68 a

11 XBRL in Europe Projects, users and…

Proprietary and Confidential © 2005 EDGAR Online, Inc. All rights reserved. Established EstablishedIrelandGermanySpain The Netherlands United Kingdom Provisional ProvisionalSwedenBelgiumDenmarkFrance In construction In construction Czech Republic FinlandItalyNorwayPolandPortugal In project In project Slovenia, Austria, Greece, Luxemburg, Malta XBRL in Europe Jurisdictions Hungary

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14 National UK Inland Revenue UK Financial Services Authority UK Companies House Datev/Bundesbank Danish Commerce & Companies (DCCA) Bank of Spain Bank of Belgium – Balance sheet office Belgian Banking supervisors Dutch Water Boards Dutch Statistics agency (CBS) Dutch government Pan-european XBRL in Europe – FP6 ICISA (CRAS group) Eurostat (feasability study) IASB CEBS – COREP (Basel II) XBRL projects in Europe 30+ projects !

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16 SEC Pushes for “Interactive Data” for Consumers Cox wants more open information access vs. more rules If investors have the data the markets will self regulate Main purpose is to enable benchmarking XBRL filing of US financial results is encouraged but not required Only nine US companies file XBRL Europe is ahead SEC sees benefit for consumers “The objective is to make it easier for ordinary investors, consumers, to make better financial decisions” Christopher Cox, Source : WSJ Europe, 3/22/06 “Think how much better life will be when you can not only rely on the accuracy of the numbers, but you can slice 'em and dice 'em exactly as you please” XBRL : From IT Integration to Business Value

17 SEC - Ripe for Reform I May 6, Jan. 1, 1998 Phase-in to Mandated Electronic Filing: Announced that all domestic registrants whose filings are subject to its review to remind them that the phase-in to mandated electronic filing on the Commission's ("EDGAR") system will be complete. EDGAR Modernization Rules Proposed: SEC to accept filings submitted to EDGAR in HTML as well as documents submitted in the ASCII format. Effective date: May 30, 2000 HTML File Format and Unofficial PDF copies Mar. 10, 1999 SEC To Refuse Paper Documents in Place of Required Electronic Filings: SEC will not accept filings made in paper that should have been filed electronically. (Effective date: Jan. 1, 1998) The SEC began developing an electronic disclosure system. Pilot Program: The pilot system was opened for volunteers filing ASCII File Format May 6, Fall of 1984 July 15, 1992 Operational EDGAR system was made available: on a voluntary basis

18 SEC - Ripe for Reform II July 22, 2004 Sept. 27, 2005 Assess Benefits of Tagged Data: SEC Announces Initiative to Assess Benefits of Tagged Data in Commission Filings Concept Release: SEC request Comments on Enhancing Commission Filings Through the Use of Tagged Data (Concept Release No ) 28 comment letters relating Sept. 27, 2004 Proposed Rule Release: SEC request comment on proposed rule for the XBRL Voluntary Financial Reporting Program on the EDGAR System (Proposed Rule Release No ) SEC’s Public Announcement: SEC Proposes Rule to Establish Voluntary Program for Reporting Financial Information on EDGAR Using XBRL (Press Release No ) Feb. 3, 2005 Release of Final Rule: XBRL Voluntary Financial Reporting Program on the EDGAR System (Final Rule Release No ) Effective May 4, 2005 Feb. 3, 2005 SEC’s Public Announcement: SEC Adopts Rule Establishing a Voluntary Program for Reporting Financial Information on EDGAR Using XBRL (Press Release No ; February 3, 2005) March 16, 2005 as the effective date

19 Sept. 25, 06 - Press Releases – “SEC to Rebuild public Disclosure System to make it “Interactive” Washington, D.C., Sept. 25, U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities. The contracts are: Modernize and Maintain the EDGAR Database to Use Interactive Data — $48 million Complete XBRL Code Writing for U.S. GAAP Financial Statements — $5.5 million Interactive Data Tools for Investors — $500,000

20 - Press Releases – “XBRL US TO BECOME INDEPENDENT ORGANIZATION” NEW YORK (September 25, 2006) – The American Institute of Certified Public Accountants today announced that XBRL US will become an independent, not-for- profit organization. Initially formed as a volunteer committee of the AICPA, the new entity will continue as the chartered U.S. jurisdiction of XBRL International. Sept. 25, 06 As a self-sustaining entity, XBRL US, Inc. will continue to fulfill two goals: 1.To support the implementation of Extensible Business Reporting Language (XBRL) in the United States through the development of taxonomies for use by both the public and private sectors; 2.To promote adoption of XBRL through educational materials and events.

21 Corporate Value Proposition Integrate Internal and External Financial Data Unique new benchmarking capabilities Competitive, peer and ad hoc Integrating data from Edgar Online Clear value in M&A scenario analysis Builds on early leadership in XBRL publication Introduced with Cartesis ES Magnitude

22 But where are we in the life cycle?

23 Liv A. Watson Vice President of Global Strategies Vice-Chair: XBRL US, Inc. Chair: XBRL US Adoption Group Chair: XBRL International Jurisdiction Development Committee XBRL International Steering Committee Member Phone: (203) Thank you! Presented by: XBRL — Why Should the CFO Care?