Introduction to XBRL Consortium Newcomers Session

Presenter: Grant Boyd - Vice Chair XBRL-Marcomm.

General Manager - Corporate Services - Institute of Chartered Accountants of New Zealand

Introductions

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Name, company, etc.

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Why are you here

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What do you expect to get out of XBRL International

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Who would you want to network with

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How do you want to contribute

Today’s Agenda

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The XBRL Vision/Mission/Goals

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Guiding Principles

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International & Jurisdictional Structure

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How we are organized

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Work group participation

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XBRL Process

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What to expect

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Membership responsibilities

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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 Mission

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To 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 Goals

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Education (Training)

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

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Specification (Technology)

Ongoing Clarification - keep 2.1 stable for 12 months

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Taxonomies

Encouragement 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 3 rd 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

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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

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Members of an established Jurisdiction

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Individuals who participate in the working party of a Provisional Jurisdiction Supply Chain Communities

Preparer, Private Sector 2 nd VC Accounting Intermediaries Software & Services Investors/Creditors Analyst Exchanges Regulators Tax Agencies Academic Preparer, Public Sector Public Sector Preparers

Supply Chains

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Benefits

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Talk to national and international members about specific supply chain issues

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

XBRL International Governance & Operational Structure

Working Groups International Working Groups

Specification Domain Basel II Marketing & Comm.

Education Research Grants General Ledger …Domain subgroups…

Working Groups

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Established at both International and Local level ( except SPEC) to further XBRL developments

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Details on the website of the groups and their objectives

XBRL International Governance & Operational Structure

At Large Members

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Individuals who provide valuable contributions to XBRL

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Ability to elect four to the Steering Committee

Jurisdictions

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Each Country has a seat on the Steering Committee. Rotate so that one or two change every year

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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 Help

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Website has a number of tools and lots of information

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www.xbrl.org

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Download the Jurisdictional Jumpstart kit

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Join the e-groups

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QUESTIONS?