XBRL: Harness the Digital Power

XBRL: Decision Making XBRL: Decision Making in a Digital Economyin a Digital Economy

How XBRL Will Make a How XBRL Will Make a DifferenceDifference

The Internet and XMLThe Internet and XML

HTTP, HTML and the Static WebHTTP, HTML and the Static Web Flat files, Data needs to be re-keyedFlat files, Data needs to be re-keyed

XML: Communicating Computer to XML: Communicating Computer to ComputerComputer Dynamic Possibilities for External and Dynamic Possibilities for External and

Internal ReportingInternal Reporting

XBRL: Primary Reporting XBRL: Primary Reporting Tool of Digital EconomyTool of Digital Economy

All company data moving to digitalAll company data moving to digital XML: the means of transportXML: the means of transport XBRL understands XML dataXBRL understands XML data

Not just tagging financial statementsNot just tagging financial statements Meaningful reports tied to transactionsMeaningful reports tied to transactions

E-Reporting Adds ValueE-Reporting Adds Value

Business at the Speed of FiberBusiness at the Speed of Fiber Digital Business is ConnectedDigital Business is Connected Automatic Sensing Through Automatic Sensing Through

Intelligent agentsIntelligent agents Common Thread: Digital Media, Common Thread: Digital Media,

including XMLincluding XML

So…Why is this Important?So…Why is this Important?

Tagging financial facts transforms the Tagging financial facts transforms the information into digital mediainformation into digital media

Digital information can be:Digital information can be: Understood by computersUnderstood by computers Read by humansRead by humans Collected by software agentsCollected by software agents Re-positioned as a report or Web siteRe-positioned as a report or Web site Better serve the financial information Better serve the financial information

user community user community

What Is XBRL?What Is XBRL?

Simply put: It’s a tagging system for Simply put: It’s a tagging system for financial data. And much more.financial data. And much more.

Similar to the UPC codes on food in a Similar to the UPC codes on food in a grocery storegrocery store

Tags contain information about Tags contain information about financial facts such as cash balancesfinancial facts such as cash balances

Can provide the basis of analysisCan provide the basis of analysis

XBRL: Solves the Puzzle XBRL: Solves the Puzzle

•Using many digital data formats

•Seeing connections, sensing problems, seeking solutions

Why XBRL?Why XBRL?+ + Faster Analysis of Financial InformationFaster Analysis of Financial Information+ + Based on XML standard Based on XML standard (ensuring platform interoperability)(ensuring platform interoperability)

+ Digital Media For Business Analysis + Digital Media For Business Analysis __________________________________________________________________________________

= = Business Reporting Language for the FutureBusiness Reporting Language for the Future

General Ledger

ebXML

XBRLXBRL

Journal Entries HR XML

Strategic Business

Information

Internal and External Reports

XBRL ReportsXBRL Reports

Labor Transaction

XBRL Report

E-commerce

Inventory Move

Information moves up

and down in a two-way

flow

X

M

L

E-ReportingE-Reporting

The natural extension to The natural extension to

the e-business revolutionthe e-business revolution

Purchase Order XML

Invoice

Journal Entry

XBRL

XML-enabledERPHR

CRME-commerce

BalancedScorecard

Digital Report

s

Digital Reporting and Digital Reporting and AnalysisAnalysis

External Reporting is External Reporting is just the beginning.just the beginning.

Transactions, Transactions, transactionstransactions

Two-way analysisTwo-way analysis

XBRL Digital ReportingXBRL Digital Reporting

Investor RelationsInvestor Relations Investment ManagementInvestment Management Tax ReportingTax Reporting Regulatory ReportingRegulatory Reporting Management and Business ReportingManagement and Business Reporting XBRL for Financial ServicesXBRL for Financial Services XBRL in e-GovernmentXBRL in e-Government

Becoming an XBRL Becoming an XBRL OrganizationOrganization

Choose your Implementation ModelChoose your Implementation Model XBRL on TopXBRL on Top XBRL InsideXBRL Inside XBRL Side by SideXBRL Side by Side XBRL OnlineXBRL Online

XBRL: Primary Digital Reporting ToolXBRL: Primary Digital Reporting Tool

XBRL and Digital XBRL and Digital Information TrendsInformation Trends

International Issues International Issues Financial Reporting Solutions, SAFinancial Reporting Solutions, SA ISA taxonomyISA taxonomy

Auditing and Trust IssuesAuditing and Trust Issues XBRL as Digital MediaXBRL as Digital Media Semantic WebSemantic Web

New Skills You Will NeedNew Skills You Will Need

Basic XML UnderstandingBasic XML Understanding Communication with XBRL Software Communication with XBRL Software

VendorVendor Care and Maintenance of XBRL FilesCare and Maintenance of XBRL Files Ability to Add Custom XBRL TagsAbility to Add Custom XBRL Tags Basic XML Transformations (Style Basic XML Transformations (Style

Sheets)Sheets)

Benefits For Financial Benefits For Financial ProfessionalsProfessionals

Analysis of accounts in secondsAnalysis of accounts in seconds Reduce time closing the booksReduce time closing the books Change report format without Change report format without

changing the datachanging the data Integrate other electronic business Integrate other electronic business

data into a digital nervous system data into a digital nervous system

When is XBRL Coming?When is XBRL Coming?

When the market demands it through:When the market demands it through: RegulationRegulation Tangible Cost BenefitsTangible Cost Benefits Major players adopt, find successMajor players adopt, find success Financial supply chain savingsFinancial supply chain savings

Major obstacles to implementationMajor obstacles to implementation Cost to get started must come downCost to get started must come down Educating workforceEducating workforce

Industry Survey Demo WorkflowIndustry Survey Demo Workflow

Coke and Pepsi file

10K

EDGAR Online processes

10K’s

EDGAR Online sends email notification

Analyst receives email and starts Industry Survey

Value Added Analysis (Pivot Tables)

Analyst Chooses Companies

XBRL files transferred to

Industry Survey

Create Chart from Analysis

Publish to Powerpoint and the Web1

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3 4

5

6

7

8

9

Where do we go from here?Where do we go from here?

Join XBRL.org Join XBRL.org Learn new digital Learn new digital

reporting methodsreporting methods Use XBRL enabled Use XBRL enabled

information for information for internal business internal business

Watch IAS for Watch IAS for further further developmentsdevelopments

Where do we go from here?Where do we go from here?

•Visit web.bryant.edu/xbrl

•www.xbrl.org

XBRL: Harness the Digital Power