introduction to xbrl consortium newcomers session presenter: grant boyd - vice chair xbrl-marcomm....

Introduction to XBRL Consortium

Newcomers SessionPresenter: Grant Boyd - Vice Chair XBRL-Marcomm.General Manager - Corporate Services - Institute of

Chartered Accountants of New Zealand

IntroductionsName, company, etc.Why are you hereWhat do you expect to get out of

XBRL InternationalWho would you want to network

withHow do you want to contribute

Today’s AgendaThe XBRL Vision/Mission/GoalsGuiding PrinciplesInternational & Jurisdictional

StructureHow we are organized

Work group participationXBRL ProcessWhat to expectMembership responsibilities

How you get involved

The XBRL Vision A worldwide consortium of participants in the

business and financial information supply chain. Oversee the creation, development, submission

and maintenance of the XBRL specification and related taxonomies for business & financial reporting data.

Over the next 5 to 10 years, all worldwide electronic business reporting and exchange of business reporting information between machines, applications, and people will be available using XBRL as the language of choice.

The XBRL MissionTo enhance the availability

and cost effectiveness of creating the business reports of today and tomorrow

Goals

The primary goal of XBRL is to reduce the cost of information, accelerate its flow, increase its usefulness and globalize its form and content.

Short Term GoalsEducation (Training)

More rapid creation and dissemination of materials and knowledge about how to use XBRL

Specification (Technology) Ongoing Clarification - keep 2.1 stable for 12 months

TaxonomiesEncouragement of continued open development of taxonomies.

Guiding Principles Market driven model – WIN – WIN - WIN

Start simple, be inclusive Broad supply chain participation Members support XBRL Members do not compete on the “framework” Build structure & systems to support open

community & parallel taxonomy development Liaison with other XML efforts Neutral 3rd Party facilitator Long term success – XBRL International

Why International? Enhanced participation

Web is a global platform/local content Facilitates broader participation Includes all supply chain participants Leverage cross jurisdictional resources

Creation of a Market Demand Pull/Adoption

XBRL International Governance & Operational Structure

Supply Chains

Preparer, Private Sector

Academic

Software & Services

Accounting

Intermediaries

Investors/Creditors

Analyst

Exchanges

Public Sector Preparers

Supply ChainCommunities

2nd VC

Regulators

Preparer, Public Sector

Tax Agencies

Supply Chain Community (SCC) represents a functional area in, or supporting, the business reporting process.

It facilitate international activities, collaboration and sharing expertise across borders.

Supply Chain Community members

•Members of an established Jurisdiction•Individuals who participate in the working party of a Provisional Jurisdiction

Supply ChainsBenefits

Talk to national and international members about specific supply chain issues

Details are on the website - in the ‘About the Organisation’ section

XBRL International Governance & Operational Structure

Working Groups

Domain

Basel II

Marketing & Comm.

Education

Grants

Research

General Ledger

Specification

International Working Groups

…Domain subgroups…

Working GroupsEstablished at both International

and Local level ( except SPEC) to further XBRL developments

Details on the website of the groups and their objectives

XBRL International Governance & Operational Structure

At Large MembersIndividuals who provide valuable

contributions to XBRLAbility to elect four to the

Steering Committee

JurisdictionsEach Country has a seat on the

Steering Committee. Rotate so that one or two change every year

Each Country responsible for XBRL adoption

Jurisdictional Expectations Actions—

Vigorous executive support Commit resources Implement within your organizations Publish your financial statements Enable your applications and/or tools Recruit others to join XBRL Ensure interoperability with other Internet

initiatives Urge adoption of XBRL by other companies Be the leader

What you can do Attend Participate

Take responsibility Communicate

E-groups (XBRL-INT, XBRL-jur, XBRL-public, etc.) Instructions for posting [TOOLS], [GEN], itd. Keep postings to PUBLIC issues

www.xbrl.org Look for opportunities

Tools and HelpWebsite has a number of tools

and lots of informationwww.xbrl.orgDownload the Jurisdictional

Jumpstart kitJoin the e-groups

QUESTIONS?