Transcript Why XML? - Bryant University

Simplify Digital Information With
XML
XBRL
Neal Hannon
XBRL Educational Resource Center
At Bryant College
IMA National
Convention
June 17, 2001
XBRL Education Co-Chair
E-Mail: [email protected]
Phone: 401.232.6227
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Today’s Objectives
• Very Brief Overview of XML & XBRL
• Show you how this technology works
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Evolution to Web Services
Program the Web
Browse the Web
Web Services
Text Files
Innovation
Web Pages
FTP, E-Mail,
Gopher
Automation
Presentation
Connectivity
TCP/IP
Technology
HTML
XML
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XML
XML stands for:
eXtensible
Markup
Language
Universally accepted method of
exchanging information
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eXtensible Markup Language
• ……is a meta markup language the
World Wide Web Consortium (W3C)
considers a universal standard for
describing both structured data and the
behavior of applications that process the
language.
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What Is XML?
• “XML is a
platform-independent,
self-describing,
expandable,
standard data exchange format
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How does it work?
• XML gives meaning to information through
the use of tags
<Customer>
<Name>Saeed Roohani</Name>
<Company>Bryant College<Company>
<Title>Chair, Accounting</Title>
<Age>29</Age>
</Customer>
Caution.. …Just because something is <tagged>.. Does not mean it is accurate?
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The XML Puzzle
XML
Document
Core
Schema
Industry Specific
Vocabularies
Company Specific
Vocabulary
Transformatio
n
Tools
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How XML Works
How XML Works
Improves the way companies -- and applications -- share information
Enjoys strong industry and vendor support
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Why is XML so Important?
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Portable
Vendor neutral
Readable data format
More flexible and easier to use than EDI
All major software products are becoming
“XML” enabled
• Defacto standards for data exchange
• Enabling new levels of interoperability
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XML
• Widely expected to reduce cost of
publishing to the Net by as much as
50%.
• And by next year …
Gartner Group prediction
70% of all B2B transactions executed on
the Web will be done using XML.
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Who defines the tags?
• Tags are defined by industry consortiums
• Each industry’s standard tags are commonly
referred to as a taxonomy
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“Content in Context” (Industry-specific)
Auto Industry
Chemical Industry
Publishing or
Mythology
Music Industry
<CAR-MODEL>
<SYMBOL>
<Short Story>
<RECORDLABEL>
Aerospace
<PROGRAM>
Astronomy
<PLANET>
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Who’s Building Taxonomies?
Accounting
Advertising Architecture
Automotive Banking
Communication
Economics
Education
E-Commerce
EDI
ERP
Financial
Healthcare
HR
Insurance
Legal
Music
News
Publishing
Real Estate
Retail
Science
Software
Supply Chain
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Why XBRL ?
 Enable business reporting
that leverages the Internet &
XML
 Effective access and
analysis of business reports
 Improve corporate
communications with
stakeholders
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What software ‘sees’
is the differentiator
and drives benefits
(here is an example)
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XBRL: A Fragment of a Raw Data


Raw Data in Spreadsheet…
Company
Financial
Statement
Line Item
Label
Year
Value
Coca Cola
Co.
Balance Sheet
CurrentAssets.Cashand
CashEquivalents
CurrentAssets.Cashand
CashEquivalents
1999
1611
Coca Cola
Co.
Balance Sheet
CurrentAssets.Cashand
CashEquivalents
CurrentAssets.Cashand
CashEquivalents
1998
1648
Same Raw Data in XML (XBRL) Format
<group>
<group type="CurrentAssets.CashandCashEquivalents">
<item period="1999">$1,611 </item>
<item period="1998">$1,648 </item>
</group>
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Importance of Reporting
“…[W]hat excites the CEO is the ability
to know what the business is doing at
any given point in time, react quickly
to market shifts and competitive
threats and remain in tight control
while empowering employees to make
informed decisions more quickly.
Year End Earnings Release Call
August 10, 1999
John Chambers
Cisco CEO
”
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Best Practice
“The Virtual Close … has, in my
opinion, just as much impact
on a company’s future success
or lack thereof as the wellpublished e-commerce area.
Year End Earnings Release Call
August 10, 1999
John Chambers
Cisco CEO
”
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XBRL - What
Key XBRL Components
• XBRL / XML Specification (XBRL.org)
– Global architecture/technology
• XBRL hierarchical vocabulary (jurisdiction/industry)
– Dictionary of terms by jurisdiction/industry sector
• Style Sheets
(preparer)
• XBRL enabled tools
(market)
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Key to our Success
 Market driven model
– 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 & market development
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Additional Education Sources
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www.xbrl.org - Student Competition
web.bryant.edu/xbrl
www.ebxml.org
www.w3.org; www.xml.org
www.rosettanet.org
www.ibm.com/developer/xml
www.microsoft.com/industry/biztalk
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Summary
• FASTER
– BETTER
• CHEAPER
• Our profession will have to follow
technology and record business
activity in an real-time mode.
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To download slides……….
http://web.bryant.edu/~xbrl/xbrlslides.html
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