Xbrl

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The Next Technology Revolution XML XBRL

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Today’s Objectives
• Overview of XML & XBRL • Show you how this technology makes doing EBusiness: – Faster – Cheaper – Better • Conclusion

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Let’s move up the Value Chain
Transactions Data
Information Knowledge

Decisions

Transactions

Data

Information

Knowledge

Decisions

Transactions

Data

Information

Knowledge

Decisions

Transactions

Data

Information

Knowledge

Decisions
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Evolution to Web Services Web
Program the Web Browse the Web Web Services Text Files Web Pages Innovation FTP, E-Mail, Gopher Connectivity
TCP/IP HTML XML
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Automation

Presentation

Technology

XML
XML stands for: eXtensible Markup Language Universally accepted method of exchanging information 5

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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XML is Platform Independent
• • • • • Windows Unix Macintosh Mainframe Linux

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XML is Self-Describing Self• Example:
– July 26, 1998

• Describes the information, not the presentation • Format neutral

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XML is Expandable
• Whereas HTML has a fixed set of tags
– , ,

• XML lets you create your own tags
– – –

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How does it work?
• XML gives meaning to information through the use of tags

Saad Hafizi COB Chairman, Novac 21
Caution.. …Just because something is .. Does not mean it is accurate? 11

The XML Puzzle
XML Document
Core Schema Transformation Tools Industry Specific Vocabularies Company Specific Vocabulary

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How XML Works

How XML Works

Improves the way companies -- and applications -- share information Enjoys strong industry and vendor support 13

What is ‘XML’?
• What XML is Not
– Not a religion. – Not the solution to all world problems. – Not a solution for all electronic commerce problems. – Not a solution to all legal-technology problems.

• XML is a Tool
– XML is a Really Cool (Powerful) Tool! – Like all tools, XML can be used wisely and unwisely. 14

Why is XML so Important?
• • • • • 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. 16

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 Aerospace Astronomy

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Who’s Building Taxonomies?
Accounting Economics EDI Healthcare Legal Publishing Science Advertising Architecture Communication E-Commerce Financial Insurance News Retail Supply Chain 19

Automotive Banking Education ERP HR Music Real Estate Software

Defines Tags
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XBRL International is gaining strength
• XBRL activities occurring in—
– – – – – – – – – – – – – – – – – – United States Canada Australia China & Hong Kong Japan Malaysia New Zealand Singapore Taiwan Germany India Ireland Netherlands Nordic Federation (Denmark, Norway, Sweden) South Africa Spain Switzerland United Kingdom

• And on a global level through the—
– International Accounting Standards Council – International Press Telecommunications Council – International Standards Organization 21

XBRL International is gaining strength
• On a Global level through the—
– – – International Accounting Standards Council International Press...
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