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Neal HannonXBRL Educational Resource Center
At Bryant College
XBRL Education Co-ChairE-Mail: [email protected]
Phone: 401.232.6227
Simplify Digital Information With Simplify Digital Information With XML XBRLXML XBRL
IMA National IMA National ConventionConvention
June 17, 2001June 17, 2001
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Why XBRL ?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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XBRL: A Fragment of a Raw DataXBRL: A Fragment of a Raw Data
<group><group type="CurrentAssets.CashandCashEquivalents"><item period="1999">$1,611 </item><item period="1998">$1,648 </item></group>
Company Financial Statement
Line Item Label Year Value
Coca Cola Co.
Balance Sheet CurrentAssets.CashandCashEquivalents
CurrentAssets.CashandCashEquivalents
1999 1611
Coca Cola Co.
Balance Sheet CurrentAssets.CashandCashEquivalents
CurrentAssets.CashandCashEquivalents
1998 1648
Raw Data in Spreadsheet…
Same Raw Data in XML (XBRL) Format
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What software ‘sees’ is the differentiator and drives benefits
(here is an example)
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Importance of ReportingImportance of Reporting
”John Chambers Cisco CEO
Year End Earnings Release Call August 10, 1999
“…[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.
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“
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The Virtual Close … has, in my opinion, just as much impact
on a company’s future success or lack thereof as the well-
published e-commerce area.
John Chambers Cisco CEO
Year End Earnings Release Call August 10, 1999
Best PracticeBest Practice
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Key XBRL ComponentsKey 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)
XBRL - What
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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
Key to our SuccessKey to our Success
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Additional Education SourcesAdditional Education Sources• 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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SummarySummary
• FASTER
– BETTER
• CHEAPER
• Our profession will have to follow technology and record business activity in an real-time mode.
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http://web.bryant.edu/~xbrl/xbrlslides.html
To download slides……….To download slides……….
