Transcript Benefits XBRL brings to the analyst market place and tools

eXtensible Business Reporting
Language
Sevilla, 17 de Abril de 2008
Enrique Bonsón Ponte
Vicepresidente de XBRL España
Catedrático de Economía Financiera y Contabilidad
de la Universidad de Huelva
Agenda
XML
1
2
3
4
XBRL
Taxonomías XBRL
Conclusiones
Evolution of the Internet
Browse the Web
Connect pre-Web
Innovation
Web Pages
FTP, E-Mail,
Gopher
Presentation
Connectivity
TCP/IP
Technology
HTML
Browsing the Web (Content—without Context)
Searching for the word “Mercury” on the Web can
provide a wide variety of results—too many—such as:
Hg
“Content in Context” (Industry-specific)
•Auto Industry
•<CAR-MODEL>
•Chemical Industry
•<SYMBOL>
•Publishing or
Mythology
•<GOD>
•Music Industry
•<RECORD-LBL>
•Aerospace
Industry
•Astronomy
•<PROGRAM>
•<PLANET>
Evolution of the Internet
Program the Web
Browse the Web
Connect pre-Web
Web Services
Automation
Innovation
Web Pages
FTP, E-Mail,
Gopher
Presentation
Connectivity
TCP/IP
Technology
HTML
XML
XML
• XML stands for:
• eXtensible
•
Markup
•
Language
• Universally accepted method of
exchanging information
What Is XML?
• “XML is a
platform-independent,
self-describing,
expandable,
standard data exchange
format”
XML
ORDER
<?xml version="1.0"?>
<ORDER>
SOLD-TO
<SOLD-TO>
<PERSON>
PERSON
<LASTNAME>Serra</LASTNAME>
FIRSTNAME
<FIRSTNAME>Roberto</FIRSTNAME>
</PERSON>
LASTNAME
</SOLD-TO>
<SOLD-ON>20040206</SOLD-ON>
SOLD-ON
<ITEM>
<PRICE>15.95</PRICE>
ITEM
<BOOK>
<TITLE>El código da Vinci</TITLE> PRICE
<AUTHOR>Brown, Dan</AUTHOR>
BOOK
</BOOK>
</ITEM>
AUTHOR
</ORDER>
TITLE
Roberto
Serra
20040206
15.95
Brown, Dan
El código da Vinci
Who defines the tags?
• Tags are defined by industry
consortiums
Each industry’s standard
tags are commonly
referred to as a
taxonomy
XML & Data
Exchange
Improves the way companies -- and applications -- share information
Enjoys strong industry and vendor support
Agenda
XML
1
2
3
4
XBRL
Taxonomías XBRL
Conclusiones
XBRL: eXtensible Business Reporting Language






Es un lenguaje de marcas basado en XML
Creado por XBRL.org
Para el intercambio automático de información
financiera entre aplicaciones de software en
cualquier parte del mundo
Se trata de un esfuerzo global para construir “el
lenguaje digital de los negocios”
A realizar por todos los participantes en la
cadena de suministro de información financiera.
Http://www.xbrl.org
Nine Years Ago …October 14, 1999
XBRL began with the idea of a
single individual - Charlie
Hoffman, from a small CPA firm
in a small town …
… and 13 Sponsoring Companies
XBRL Adds Reporting
to E-Commerce
Tax
Regulators Investors
Creditors
Lenders Website
Aggregators
One
way
One
way
XBRL
BUSINESS
G/L Packages
ERP
CRM
BUSINESS REPORTING
Transaction Creation
2-way
Suppliers
(e-)Commerce
•Orders
•A/P
•Delivery
•Orders
•A/R
•Delivery
OTHER XML INITIATIVES
2-way
Customers
XBRL Planned Specifications
XBRL for G/L
Journal Entry
Reporting
Processes
Business
Operations
XBRL for Business
Event Reporting
XBRL for Financial
Statements
Internal
Financial
Reporting
External
Financial
Reporting
XBRL for Audit
Schedules
XBRL for
Tax Filings
Trading
Partners
Investment
and Lending
Analysis
Financial
Publishers
and Data
Aggregators
Companies
Participants
XBRL for
Regulatory Filings
Management
Accountants
Auditors
Software Vendors
Regulators
Investors
XBRL: Multiples salidas - Una sola especificación
Informes
impresos
Sistema
contable
Registro y
CNMV
XBRL
Otras
fuentes de
información
Sitio Web
Agencia
Tributaria
Banca
XBRL: Multiples salidas - Una sola especificación
Registro
Inversores
CNMV
Sitio Web
Agencia
Tributaria
Banca
XBRL
Otros
Financial Information Supply Chain
Today’s External Position
Company Financials
Regulatory
Filings
Public
Financials
Company
Financials
Market Data
Competitor/Industry Financials
Analyst Analytical Models
Assurance
Financial Information Intermediary Supply Chain
External Position
Company Financials
Regulatory
Filings
Public
Financials
Company
Financials
Financial Supply Chain
Market Data
Competitor/Industry Financials
Analytical Models
Assurance
 XBRL documents can
be:
– Prepared efficiently
– Exchanged reliably
– Published more easily
– Analyzed quickly
– Retrieved by investors
simply
Agenda
XML
1
2
3
4
XBRL
Taxonomías XBRL
Conclusiones
XBRL Taxonomies







Equivalent to a dictionary
They content all the elements to be used
within a XBRL document
Global taxonomies: AR y GCD
International taxonomies: IASCF-IFRS y
CRAS
National-industry extensions
National taxonomies: USA-GAAP, German
GAAP, Australian GAAP
Industry extensions
AR TAXONOMY
Report Information
int-ar:ReportInformation
Title of Accountants Report
int-ar:TitleReport
Report Type
int-ar:ReportType
Addressee
int-ar:Addressee
Statements Covered
int-ar:StatementsCovered
Balance Sheet Date
int-ar:BalanceSheetDate
Income Statement Period
int-ar:IncomeStatementPeriod
Statement of Comprehensive Income Period
int-ar:StatementComprehensiveIncomePeriod
Statement of Stockholder's Equity Period
int-ar:StatementStockholdersEquityPeriod
Cash Flows Statement Period
int-ar:CashFlowsStatementPeriod
Reporting Method
int-ar:ReportingMethod
Report Date
int-ar:ReportDate
Dual Date
int-ar:DualDate
Date of Dual Date
int-ar:DateDualDate
Dual Date Note
int-ar:DualDateNote
Accounting Standards Applied
int-ar:AccountingStandardsApplied
Report Body
int-ar:ReportBody
Introductory Paragraph
int-ar:IntroductoryParagraph
Scope Paragraph
int-ar:ScopeParagraph
Opinion Paragraph
int-ar:OpinionParagraph
IASCF-IFRS TAXONOMY
•
•
•
•
Based on the IAS-IFRS bound volume
A digital version of IAS-IFRS
Primary Financial Statements
Explanatory Disclosures and Accounting
Policies
International
Financial Reporting
Standards
(Taxonomía IFRS-GP)
Taxonomía
CRAS
Extensión
nacional
Taxonomía
DGI
Extensión
nacional
sectorial
Extensión
para una
empresa
Documento
XBRL
Extensión
sectorial
Organismo
Regulador
Banco de España
C-EBS
(Comité de Supervisores
Bancarios Europeos)
CNMV
(Comisión Nacional del
Mercado de Valores)
ICAC
(Instituto de Contabilidad
y Auditoría de Cuentas)
Registradores de España
Taxonomía
XBRL
SIIF
(Sistema de Intercambio
de Información Financiera)
COREP
(Common Solvency Ratio
Reporting Framework)
IPP
(Información Pública Periódica)
PGC-1990
(Plan General de Contabilidad)
DGI
(Datos Generales de Identificación)
Entidad
supervisada
Entidades financieras españolas
Información financiera.
Entidades financieras europeas
Información sobre Riesgos
según Basilea II
Sociedades emisoras.
Información financiera
Empresas españolas
que emiten
cuentas anuales según PGC 1990
Personas físicas
y jurídicas a identificar
Agenda
XML
1
2
3
4
XBRL
Taxonomías XBRL
Conclusiones
In Conclusion
Adoption of XBRL will bring democratization of
financial markets.
XBRL and other XML derivative languages are
going to change information generation and
distribution.
The information intermediation industry will have
to change consequently bringing greater
transparency to financial Information.