| |  | CASH and Semansys work together on XBRL May 18, 2010 |
| |
CASH Software, Den Haag, the Netherlands, expands its product suite with XBRL/SBR functionality.
Cash and Semansys Technologies have entered into a partnership to provide comprehensive XBRL/SBR solutions.
By using xbrlOne, the SaaS-Cloud platform of Semansys, Cash customers can be assured that they are able to generate and deliver XBRL messages to different authorities, like: Tax Office, Central Bureau of Statistics, Chamber of Commerce and several banks. The clients also can make direct use of the document display with XBRL rendering, XBRL Inline and the validation processes like Core XBRL, bank validation, and XBRL formulas.
|
|
| | | Infine and Semansys partner on XBRL/SBR May 18, 2010 |
| |
Infine Software, Nijkerk, the Netherlands, expands its product suite with XBRL/SBR functionality.
Infine and Semansys Technologies have entered into a partnership to provide comprehensive XBRL/SBR solutions.
By using xbrlOne, the SaaS-Cloud platform of Semansys, Infine customers can be assured that they are able to generate and deliver XBRL messages to different authorities, like: Tax Office, Central Bureau of Statistics, Chamber of Commerce and several banks. The clients also can make direct use of the document display with XBRL rendering, XBRL Inline and the validation processes like Core XBRL, bank validation, and XBRL formulas. |
|
| | | CoreFiling supports the XBRL Consistency Suite April 6, 2010 |
| | Oxford, 6th April 2010. CoreFiling, the leading supplier of XBRL (eXtensible Business Reporting Language) tools to filers, regulators and government agencies, has announced support for the new XBRL Consistency Suite, launched today by XBRL US, the XML standard setter for business information reporting in the U.S.
|
|
| | | XBRL INTERNATIONAL SEEKS BROAD INPUT ON DISCUSSION DOCUMENT February 15, 2010 |
| | XBRL International, Inc., (XII) today released “XBRL: Towards a Diverse Ecosystem”. This is a Discussion Document seeking public comment on the future business requirements and technical roadmap for the XBRL business information standard. The Discussion Document may be downloaded at: http://www.xbrl.org/2010TechDiscussion/2010TechDiscussion.pdf
The deadline to submit a comment letter or respond to the survey is March 19th, 2010.
|
|
| | | Financial Accounting Foundation to Maintain XBRL Taxonomy for U.S. GAAP February 5, 2010 |
| | Norwalk, CT, February 5, 2010—The Financial Accounting Foundation (FAF) today announced its new responsibility for the ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy applicable to public issuers registered with the U.S. Securities and Exchange Commission (SEC). The FAF and Financial Accounting Standards Board (FASB) will assemble a small team of technical staff dedicated to maintaining the taxonomy and will work towards the release of the next taxonomy update in early 2011. Today’s announcement is the culmination of several months of discussions between the FAF and the staff of the SEC. |
|
| | | CESR Publishes Reponses to Call for Evidence on Standard Reporting Format |
| | The Committee of European Securities Regulators (CESR) publishes the responses to its "Call for Evidence on the Use of Standard Reporting Format" which is of interest to the XBRL Community. |
|
| | | XBRL Canada Hosts Free Event November 5th |
| |
IROs, Financial Communicators Invited to Attend Free, One-Day Session
TORONTO, Oct. 7 /CNW/ - A free, one-day event will be held in Toronto on November 5, 2009 at the Metro Toronto Convention Centre to update professionals impacted by XBRL. Critical issues covered include the United States' Securities and Exchange Commission's (SEC) Interactive Data Program, IFRS Convergence, the Canadian XBRL filing environment as well as an update regarding XBRL internationally. Equally valuable is a showcase of XBRL solution providers that allows attendees to view, understand and evaluate solutions to their XBRL challenges.
|
|
| | | IMA Forms New XBRL Advisory Committee to Benefit Accountants in Business and Industry August 12, 2009 |
| | MONTVALE, N.J.--(BUSINESS WIRE)--The Institute of Management Accountants (IMA®), the world’s leading association representing the management accounting profession, announced that it has formed a new XBRL Advisory Committee to focus on the untapped market needs enabled by this emerging technology. The Committee, comprised of nine of IMA’s volunteer members, will lead IMA’s efforts to enable management accountants to be more effective and efficient in a wide range of value-enhancing activities. These include internal business reporting and analysis (e.g., operational and business unit reporting), business intelligence, data mining, consolidations, transaction processing, and other business processes in which XBRL may be useful in driving business performance while preserving data integrity. |
|
| | | FASB and XBRL US Align XBRL US GAAP Tags to New Accounting Codification August 4, 2009 |
| | The Financial Accounting Standards Board (FASB) and XBRL US, the nonprofit consortium for XML business reporting standards, announced today that they have completed the work to revise the XBRL US GAAP Taxonomy to reflect the FASB Accounting Standards CodificationTM that was released on July 1, 2009. The Codification is the single source of authoritative nongovernmental U.S. generally accepted accounting principles (GAAP) and is effective for interim and annual periods ending after September 15, 2009. |
|
| | | 11th European Banking Supervisors XBRL Workshop hosted by the OeNB, Vienna, 16-20 November 2009 August 5, 2009 |
| | * Monday-Tuesday 16-17: XBRL Training.
Unfortunately, we lack of budget to offer this training for free, as usual in all our activities. Therefore, an at-cost fee will be likely required.
* Wednesday 18: Solutions day.
Commercial providers and consultants will present solutions applicable to the different filing steps while using standards, in order to reduce the regulatory burden with off the shelf products and industry solutions. The selection of speakers will be carried out with the help of the non-for-profit Association XBRL Europe. |
|
| | | Alert published for auditors regarding XBRL assurance on SEC filings |
| | |
|
| | | XII Updates its IPR Policy July 22, 2009 |
| | XBRL International (XII) has updated its Intellectual Property Rights Policy (IPR) to bring it up to date with current industry terminology and practice. It was approved by the International Steering Committee at their meeting on 22nd June 2009 after a period of membership review. |
|
| | | Oracle Enhances XBRL Reporting Capabilities with UBmatrix, Inc. June 24, 2009 |
| |
Redwood Shores, CA – June 24, 2009
News Facts
• To help publicly held companies facilitate the preparation, publishing and automatic exchange of financial statements in XBRL (eXtensible Business Reporting Language), Oracle will embed UBmatrix, Inc.’s leading XBRL technology into Oracle's Enterprise Performance Management (EPM) System, Oracle announced today. |
|
| | | XBRL International issues the formula specifications as RECOMMENDATION June 22, 2009 |
| | This suite of specifications was approved by the International Steering Committee on June 22nd, 2009 |
|
| | | Registration is now open for SBR Conference 2009 Australia April 23, 2009 |
| |
Sydney: Dockside, Cockle Bay Wharf, Darling Harbour, 26-27 May 2009
Melbourne: Melbourne Park Function Centre, 29 May 2009
Standard Business Reporting (SBR) is revolutionising business-to-government reporting around the globe.
When launched in July 2010, SBR will not only reduce the costs of reporting financial information to government, it will also help the business community to improve the quality of both internal and external reporting.
Reporting effected includes, annual financial reports, business activity statements, tax returns, and payroll tax. Led by the Treasury, the government agencies involved are the Australian Taxation Office, Australian Securities and Investment Commission, Australian Prudential Regulation Authority, and the state and territory revenue offices.
The SBR Conference brings together national and international experts who will demonstrate what Australian business can expect from SBR, explore and discuss global financial reporting trends including open standards such as XBRL, what SBR means to business, accountants and software developers, and ultimately help you to discover what you need to do to implement SBR.
|
|
| | | Information Age: Transparency Is More Powerful Than Regulation March 30, 2009 |
| | ...earlier this month Congress got a lesson on the potential of better disclosure. "Today's financial crisis was driven in part by a lack of accurate, easily usable information to give investors what they need to make informed, responsible decisions," testified Mark Bolgiano, chief executive of a non-profit technology and accounting consortium called XBRL US. "The value of toxic asset-backed securities remains a mystery because information on the underlying loans and ongoing viability of those loans and the securities themselves was not collected consistently and even if it had been, it would not have been in a usable, portable form." |
|
| | | SAP Delivers New XBRL Publishing Software to Enable Easier Communication of Financial and Business Data February 18, 2009 |
| | PALO ALTO, Calif. and WALLDORF, Germany - February 18, 2009 - SAP AG (NYSE: SAP) today announced the availability of SAP® BusinessObjects™ XBRL Publishing application by UBmatrix, a new eXtensible Business Reporting Language (XBRL) application that enables customers to communicate financial and business information, which is required globally by authorities like the Securities and Exchange Commission (SEC) in the U.S. and HM Revenue & Customs in the U.K. SAP BusinessObjects XBRL Publishing promotes fast and flexible compliance reporting and enables customers to leverage their existing SAP investments.....
|
|
| | | XBRL US teams with SOF to host Corporate Actions 2009 |
| | Register now for Corporate Actions 2009: Improving Issuer-Investor Communications
Reducing risk and cost through data and technology standards
|
|
| | | Institute of Internal Auditors White Paper "XBRL: What's in it for Internal Auditors |
| | |
|
| | | Rendering Working Group of XBRL International issues first Candidate Recommendation of the Inline XBRL Specification June 30, 2008 |
| | Inline XBRL is a standard for embedding XBRL fragments into an HTML document. The objective is to provide documents which can be viewed in a browser while making use of XBRL tags which can be processed automatically by consuming applications. |
|
| | | "Final" XBRL US (2008) Taxonomies granted "Acknowledged" status by XBRL International June 5, 2008 |
| | XBRL International has formally "Acknowledged" the series of taxonomies published by XBRL US in May 2008, which supersede those issued in 2005 and 2006. Links to these taxonomies can be found at http://www.xbrl.org/FRTAcknowledged/. |
|
| | | Updated Irish GAAP Taxonomy granted Acknowledged status by XBRL International May 29, 2008 |
| | XBRL International, Inc. has granted "Acknowledged" status to the latest release of the Irish GAAP taxonomy |
|
| | | Third Public Working Draft of the Generic Links Specification released for comment April 25, 2008 |
| | The Base Specification and Maintenance Working Group and the Formula Working Group have published the third Public Working Draft of the Generic Links Specification. This specification aims to facilitate the creation of new kinds of metadata by providing additional concrete linking components, as well as guidance for the definition of custom linking components. Comments are invited from the Public and should be addressed to specification-feedback@xbrl.org.
|
|
| | | Mandatory XBRL - Here it comes April 16, 2008 |
| | On Monday, the SEC will hold an open Commission meeting to vote on a proposal to mandate XBRL. Given that this has been one of Chairman Cox's top priorities since he took office - and the Chairman and SEC Staff have not been shy about their timeframe to kick-start mandatory XBRL - this is no surprise. |
|
| | | SEC Announces Open Meeting on XBRL rule April 15, 2008 |
| | “The Commission will consider whether to propose amendments to provide for corporate financial statement information to be filed with the Commission in interactive data format, and a near- and long-term schedule therefor.” |
|
| | | XII Grants "Acknowledged" status to a series of taxonomies from XBRL US |
| | XBRL US has published a set of taxonomies that supersede the versions published in 2005 and 2006. A final release for which XBRL International "Approved" status will be sought is scheduled for later in 2008. |
|
| | | XII calls for applications for membership of the XBRL International Best Practices Board March 17, 2008 |
| | The XBRL Nominations Committee seeks applicants to the newly approved XBRL International Best Practices Board (BPB). |
|
| | | XII announces the formation of the XBRL International Best Practices Board March 13, 2008 |
| | The XBRL International Steering Committee (ISC) announces the formation of the XBRL International Best Practices Board (BPB) to actively manage the production, dissemination and continual improvement of work products that describe methods and processes for successful development, implementation, integration, maintenance and usage of XBRL specifications. |
|
| | | MIX standardises on XBRL to Strengthen and Expand its Lending to the Poor January 24, 2008 |
| | Microfinance Information Exchange, Inc. (MIX) is a business information provider for the microfinance industry. MIX tracks the performance of more than 900 microfinance institutions.These microfinance institutions provide financial services and small loans—often less than $100—to poor people and businesses in emerging nations. MIX has decided to standardise on XBRL for its offerings. For a video click here. |
|
| | | November 2007 XBRL International Progress Report issued December 1, 2007 |
| | The XBRL International Progress Report for November 2007 is now available. Click the link above to read about the latest XBRL developments, including news and activities within XBRL International, news from XBRL jurisdictions, and member products and services. |
|
| | | XBRL Global Ledger Working Group publishes a set of FAQs as a Working Group Note |
| | The Global Ledger Working Group of XBRL International has published the third in a series of Working Group Notes - this one entitled "FAQs" (Frequently Asked Questions) |
|
| | | Presentations from past conferences available in the archive |
| | Presentations from past XBRL International conferences are available from http://archive.xbrl.org - this includes all conferences since November 2004. |
|
| | | Global Ledger WG publishes "Annotated Instances" Working Group Note |
| | The Global Ledger Working Group of XBRL International has published the second in a series of Working Group Notes - this one entitled "Annotated Instances" |
|
| | | RIXML.org becomes Provisional XBRL Jurisdiction June 8, 2007 |
| | The Research Information EXchange Mark-up Language (RIXML) Consortium has become a provisional XBRL jurisdiction.
The step was approved by the RIXML.org Consortium Steering Committee and the XBRL International Steering Committee (ISC). The XBRL Provisional Jurisdictional status was provided in recognition of the RIXML.org efforts and to streamline the business reporting supply chain and expand collaboration efforts with the XBRL community members. |
|
| | | XBRL International announces appointments to the International Standards Board June 7, 2007 |
| | The International Steering Committee (ISC) of XBRL International today confirmed the appointment of César Pérez-Chirinos of the Bank of Spain, Madrid, Spain and Yossef Newman of Deloitte and Touche LLP, New York, USA to the seven member board responsible for leading the technical standard setting of the consortium. |
|
| | | 15TH GLOBAL XBRL CONFERENCE SHOWCASES GROWTH IN INTERACTIVE DATA FOR BUSINESS REPORTING - News Release June 6, 2007 |
| |
Over 400 executives from more than 30 countries around the world met with government and regulatory authorities, stock exchange executives, leading financial services institutions, accounting and professional services firms as well as technology solution providers to further the global adoption of interactive data solutions like XBRL. The comprehensive Munich conference program spotlighted discussions about improving the business reporting process for companies of all sizes. |
|
| | | Audio Recordings of XV International Conference Public Day Speeches available for download June 4, 2007 |
| |
Audio recordings of the first day's speeches from the XV XBRL International Conference in Munich, Germany are available for download from here.
These recordings are raw and unedited and so the lead in and close out may contain comments unrelated to the presentations themselves.
The files are in .WMA format - they are typically fairly large (up to 25 MB) and it is recommended that you download them to your local hard drive first rather than trying to listen to them in "streaming" mode.
PD 01 - Conference Chair's Welcome and Logistics Speech - Kurt Ramin, XBRL International
PD 02 - XBRL Germany Welcome - Jörg Fuhrmann, XBRL Germany
PD 03 - Role, Achievements of Objectives of XBRL International and the Standards Board - Michael Ohata, John Turner, XBRL International
PD 04 - Keynote "Global Interactive Data" - Kathleen L. Casey, Commissioner, US SEC
PD 05 - Keynote "XBRL: Creating Value by Implementation of Standard Formats" - Dr. Mathias Büger, Deutsche Bank AG
PD 06 - Keynote "XBRL Spain Plans: New Impetus Strategy" - Sebastian Muriel, red.es
PD 07 - Keynote "IFRS & IFRS for SMEs and XBRL Working Together" - Robert Garnett, IFRIC
PD 08 - Panel session "Turning the vision into reality" - moderated by Mike Willis, PricewaterhouseCoopers
PD 10 - Keynote: "XBRL as a Tool for Supervision" - Arnoud Vossen, De Nederlandsche Bank
PD 11 - Keynote: "e-Reporting with XBRL for SMEs at DATEV" - Prof. Dieter Kempf, Datev eG
PD 12 - State of the Art Demonstration - hosted by Josef MacDonald, IASCF
PD 13 - Keynote: "Moving to Business Connectivity with Enterprise SOA" - Dr. Andrea Roesinger, SAP
PD 14 - "Tomorrow's Insights Today": the Global XBRL Academic Competition - Eric E. Cohen, PricewaterhouseCoopers
PD 15 - "Preparing XBRL Financial Statements without Error and without knowing XBRL" - Tadashi Shiozaki, Takara Printing of Japan
PD 16 - State of the Art Demonstration - hosted by Diane Mueller, JustSystems - Part 1
PD 16 - State of the Art Demonstration - hosted by Diane Mueller, JustSystems - Part 2 (10 minutes missing from the start)
|
|
| | | 15th XBRL International Conference gets underway in Munich, Germany June 4, 2007 |
| | Over 400 executives from more than 30 countries around the world are meeting with government regulatory authorities, stock exchange executives, leading financial services institutions, accounting and professional services firms and technology solution providers to further the global adoption of interactive data solutions like XBRL. The comprehensive Munich conference program spotlights discussions about how interactive data solutions like XBRL improve the business reporting process for companies of all sizes. Prominent regulators from the U.S. and several European countries will be featured speakers – their focus on how listed companies will leverage XBRL to submit regulatory filings accurately, efficiently, quickly and consistently. XBRL International is hosting the event June 3-7 at the Holiday Inn Centre City in Munich, Germany. |
|
| | | XBRL and RIXML sign Memorandum of Understanding June 1, 2007 |
| | The Research Information EXchange Mark-up Language (RIXML) Consortium and XBRL have signed a Memorandum of Understanding outlining their intent for mutual collaboration and cooperation. |
|
| | | XBRL Global Ledger SRCD Module released as Public Working Draft May 23, 2007 |
| | The XBRL GL Working Group has published the first Public Working Draft of the SRCD module to address the linkage between ledger level and reporting level business information. Comments are invited from the public. |
|
| | | 15th XBRL INTERNATIONAL CONFERENCE IN MUNICH JUNE 4-6, 2007 TO DISCUSS MANDATES BY GLOBAL REGULATORS FOR XBRL IN PUBLIC COMPANY FINANCIAL REPORTING May 17, 2007 |
| | Leading Software Developers, Financial Institutions, Analyst Firms and Regulators Discuss Solutions to Help Companies Comply. Recently, the Financial Times announced that the U.S. Securities and Exchange Commission will begin formalizing a new rule that would require all public companies in the United States to report financial information in XBRL. |
|
| | | Rivet Software Announces Completion of SEC Viewer May 14, 2007 |
| | Rivet Software announces the completion and delivery of the Interactive Financial Report Viewer to the U.S. Securities and Exchange Commission (SEC). This free, Web-based XBRL viewing and analysis application is designed to demonstrate to analysts and investors the interactive capabilities of XBRL documents filed through the SEC’s Voluntary Filing Program and can be accessed through the SEC web site (www.sec.gov). |
|
| | | Formula Working Group to hold public conference calls for reviewers of the Public Working Draft February 22, 2007 |
| | Two teleconferences are to be hosted on March 1st, 2007 by the Formula Working Group of XBRL International to provide reviewers with an opportunity to ask questions about the first Public Working Draft of the XBRL Formula 1.0 Requirements and Specification that was made available recently. |
|
| | | Formula Working Group issue first Public Working Draft February 1, 2007 |
| | The Formula Working Group have published the first Public Working Draft of the XBRL Formula 1.0 Requirements and Specification for public comment. Information sessions will be held by telephone conference call and will be announced shortly. |
|
| | | XBRL to gain momentum in 2007, says Financial Executives Intl January 8, 2007 |
| | Financial Executives International (FEI), an association for chief financial officers and other senior finance executives, has placed XBRL near the top of its list of financial reporting challenges for 2007, saying the standard would gain momentum with increasing voluntary adoption during the year.
|
|
| | | Michael Ohata named as new chair of XBRL Steering Committee December 18, 2006 |
| | Michael Ohata, Director of Reporting Standards for Microsoft Finance, has been ratified as the new Chair of the International Steering Committee (ISC) of XBRL International (XII). He takes over from Kurt Ramin, XBRL Team Leader at the International Accounting Standards Committee Foundation (IASCF), who is retiring as chair after serving the maximum term.
|
|
| | | SDMX and XBRL International announce joint project to explore interoperability December 15, 2006 |
| | The SDMX Sponsors Committee and XBRL International announced that a preliminary investigation by SDMX and XBRL experts has confirmed the potential for interoperability between the two frameworks, which focus respectively on statistical and business reporting. The two organisations announced plans for a project to explore the possibilities further.
|
|
| | | Call for Interest - Versioning Working Group December 15, 2006 |
| | XBRL International has issued a call to all those who are interested in participating in an XBRL International Working Group devoted to the topic of versioning of XBRL artefacts (instances and taxonomies) to make themselves and their interest known. If you are interested in participating, please send an e-mail to WGAdmin@xbrl.org indicating your interest. The XBRL Versioning Working Group would be expected to deliver a standard approach to maintaining the information necessary to process and analyse XBRL artefacts that may be changed (i.e. “versioned”) over time. What this approach should be is for the Working Group to decide, but possibilities range from a simple guidance document on use of existing technologies to the creation of a complete technical specification, conformance suite and reference implementation.
|
|
| | | Charlie Hoffman receives AICPA award for pioneering XBRL work December 14, 2006 |
| | Charlie Hoffman, who conceived the idea of XBRL, has received the American Institute of Certified Public Accountants' (AICPA) Special Recognition Award for his pioneering work in proposing and helping to develop the language. Mr Hoffman, currently Director of Industry Solutions-Financial Reporting at UBMatrix, started investigating how XML could be used for electronic reporting of financial information in 1998 and then proposed the idea to the AICPA. Since the creation of the XBRL International (XII) consortium, he has continued to play a leading role in helping to develop and promote the standard.
|
|
| | | Call for Participation – XBRL International GL Working Group December 12, 2006 |
| | The XBRL International Standards Board has issued a call to all those who are interested in participating in the XBRL International XBRL GL Working Group to step up and declare their interest and their intent to involve themselves in its work. If this specification is sufficiently important to your organisation it is appropriate that your organisation contribute to its creation.
The XBRL International Standards Board has confirmed that Jeff Fedor, current Chair of the XBRL GL WG, will remain in this role.
Full details are to be found at http://www.xbrl.org/XBRLGLWGCall/ including:
Information about how to join the group
The draft charter of the Working Group
Please visit this page to learn more – we hope that you will be able to participate in this important initiative.
|
|
| | | Rendering Working Group approved - further call for participation December 11, 2006 |
| | The charter of the Rendering Working Group has been approved by the XBRL International Standards Board (XSB) and a first meeting of the group has been set for 18 December. The group is responsible for delivering a standard for the rendering of XBRL instances in human readable form. All those interested in participating in this group should e-mail WGAdmin@xbrl.org as soon as possible, if they have not already applied for membership.
|
|
| | | Functions Specification released as public working draft December 11, 2006 |
| | Functions Specification 1.0 has been approved for release as a Public Working Draft by the XBRL International Standards Board (XSB). This specification defines XPath 2.0 functions to aid in the querying and creation of XBRL instance documents, effectively providing an XBRL-specific extension to XPath 2.0. It sets out a collection of functions which operate on XBRL constructs and defines their expected behaviour.
|
|
| | | US SEC Chairman says XBRL will greatly improve audit quality December 5, 2006 |
| | The adoption of XBRL will significantly improve the quality of audits and cut errors by companies, US Securities and Exchange Commission Chairman Christopher Cox said. Delivering a keynote speech at the 14th XBRL International Conference in Philadelphia, Mr Cox said that XBRL could ensure the correct classification of business data - removing human intervention and error and freeing resources for higher-value work. It would make regulators, analysts and investors more productive. In wide-ranging remarks, Mr Cox declared that the SEC was committed to ensuring XBRL remained a truly international, open source standard. The widespread use of XBRL would aid in translating financial data between accounting systems and accelerate the development of a set of truly global accounting standards, he said.
|
|
| | | Major product announcements at opening of XBRL Intl Conference December 5, 2006 |
| | A set of major XBRL product announcements marked the opening of the 14th XBRL International Conference in Philadelphia on 4 December. New products released at the conference included new taxonomy building software, solutions for XBRL conversion, rendering and publishing, XBRL add-ins for Microsoft Excel, software to enable specialised reports based on XBRL data and improved analysis capabilities for the EDGAR Online XBRL database of more than 11,000 companies.
|
|
| | | Case Studies show benefits of XBRL in major projects December 5, 2006 |
| | XBRL International has released a range of case studies which show how important organisations are making use of XBRL. The studies underline the major benefits which flow from use of the standard. The studies cover XBRL projects at the central banks of Belgium, Japan and Spain, and at the Tokyo Stock of Exchange as well as the introduction of XBRL for US banking regulation by the FFIEC. They explain the background to each XBRL project, the reasons for adopting XBRL, the main steps involved, key results, lessons learned and next steps. They should be of interest to all those concerned with the practical use of XBRL.
|
|
| | | XBRL enhances performance management systems, report says December 4, 2006 |
| | XBRL enhances Performance Management applications and offers immediate external benchmarking business benefits, according to a report released at the 14th International XBRL Conference in Philadelphia. The report debunks common myths on XBRL or Interactive Data, according to Cartesis, a leading specialist in finance and performance management software, who released the report in conjunction with Perception Partners.
|
|
| | | New repository set up for XBRL project information November 29, 2006 |
| | XBRL Spain and the University of Bucaramanga (Colombia) have set up a repository for information on XBRL projects around the world. Project managers are called on to contribute data on developments. The repository will be a valuable source of information for those who are tracking XBRL progress, considering setting up projects or involved in implementations. It uses the latest ‘wiki’ technology, enabling easy and flexible updating of information by project managers themselves, as well as efficient display and searching. The repository is available through www.wikixbrl.org.
|
|
| | | XBRL issues Call for Review of GL Taxonomy November 28, 2006 |
| | The XBRL International Standards Board has approved publication of the XBRL GL 2006 Taxonomy as a Proposed Recommendation and issued a Call for Review of the taxonomy. This is the final stage prior to the taxonomy becoming a full XBRL Recommendation. A Proposed Recommendation is a mature Technical Work Product that has gone through a thorough review for technical soundness and capability of implementation. The review period will last for 45 days and if no substantive issues are raised, the taxonomy will be proposed as a Recommendation. The GL Taxonomy is intended to enable the efficient handling of financial and business information contained within an organisation. It allows the representation of data found in charts of accounts, journal entries or historical transactions and enables it to be gathered and used efficiently across disparate accounting systems. All who have comments or wish to endorse the taxonomy should mail xbrlgl@xbrl.org before 15 January 2007.
|
|
| | | XBRL International Call for Interest - Functions Working Group November 22, 2006 |
| | XBRL International is calling on all those who are interested in participating in an XBRL International Working Group devoted to the topic of an XBRL Functions library to make their interest known by e-mail to WGAdmin@xbrl.org. In particular, suitable volunteers to Chair the Working Group are being sought. The XBRL International Standards Board (XSB) has determined that a Functions WG should be formed to deliver a standard library of XBRL-aware function interfaces and a registry that allows additional functions to be defined from time-to-time to encourage further standard development of the library. The primary audience for the output of this Working Group would be other Working Groups that are developing specifications which can benefit from the use of such functions, software vendors and in-house developers that produce XBRL 2.1 functions processors and taxonomy authors that want to express functions, either inside XBRL formulae, or elsewhere.
Once sufficient interest has been declared in the Functions Working Group, a formal “Call for Participation” will be issued.
|
|
| | | XBRL Assurance WG paper at World Congress of Accountants November 15, 2006 |
| | The XBRL Assurance Working Group presented the paper “Interactive Data: the Impact on Assurance, New Challenges for the Audit Profession" at the World Congress of Accountants (WCOA) held in Istanbul, Turkey. The paper, presented in a workshop on “Assurance for Digital Reporting”, resulted from research by the AWG into the assurance implications of Interactive Data or XBRL. As use of XBRL grows, reliance on the XBRL data will increase, leading to a need for assurance on that data by independent auditors or public accountants. At present, there are no internationally acknowledged standards to support the provision of such assurance.
|
|
| | | XBRL International Call for Interest – Dimensions Working Group November 14, 2006 |
| | XBRL International (XII) is calling on all those interested in participating in an XII Working Group devoted to Dimensional Taxonomies to make themselves known by e-mailing WGAdmin@xbrl.org indicating your interest. Topics are expected to include guidance on the implementation of the Dimensions Specification; interoperability with other XBRL Specification initiatives; documenting “best practices” in the creation of taxonomies according to this Specification. |
|
| | | New version of German GAAP taxonomy released November 14, 2006 |
| | XBRL Germany has released version 2.0 of its XBRL taxonomy covering German national GAAP for public review. The taxonomy, which complies with the latest 2.1 version of the XBRL Specification, is an update of the first version issued in 2002. Enhancements include changes to reflect the evolution of XBRL rules and best practices, the introduction of basic modularisation, the addition of a new section to cover information for tax filing and a range of alterations and additions to reflect changes in the legal and business environment.
|
|
| | | Calls for Participation in Formula and Base Spec Working Groups October 31, 2006 |
| | XBRL International (XII) is calling on all those interested in participating in the XII Formula Working Group and / or the Base Specification and Maintenance Working Group to declare their interest and intent to involve themselves in the work of these groups. If either the proposed Formula Specification or the base XBRL Specification is important to your organisation, then your organisation is urged to contribute to these groups.
The Formula WG is continuing work on the development of a Formula Specification which was being performed within the old Specification WG. Instructions on joining the group, together with its draft charter and other information are available at http://www.xbrl.org/FormulaWGCall/.
The Base Specification and Maintenance WG is charged with providing and documenting authoritative interpretations of the XBRL 2.1 specification and with resolving minor issues by way of errata corrections and extensions to the XBRL 2.1 conformance suite. Instructions on joining the group, together with its draft charter and other information are available at http://www.xbrl.org/BaseSpecWGCall/.
|
|
| | | XBRL Standards Board establishes new procedures, working groups October 31, 2006 |
| | The XBRL International Standards Board (XSB) has established new procedures for the operation of International working groups and for the production of technical material. It has also agreed the setting up of several new working groups to move forward key developments.
|
|
| | | Indian market regulator working on introduction of XBRL October 30, 2006 |
| | The Securities and Exchange Board of India (SEBI) is in discussion with stock exchanges and issuers of financial information about the introduction of XBRL for financial reporting by companies, according to the Press Trust of India (PTI). One aim is to make user access to information more efficient.
|
|
| | | XBRL acknowledges Thailand Stock Exchange taxonomies October 30, 2006 |
| | XBRL International has granted Acknowledged status to three Thailand Stock Exchange taxonomies - for commercial and industrial companies, for banking services companies and for securities companies. This status means the taxonomies fully comply with the latest XBRL Specification. They are the first taxonomies from Southeast Asia to be acknowledged by XII.
|
|
| | | XBRL International issues Call for Participation - Rendering October 14, 2006 |
| | The XBRL International Standards Board has called on all those interested in the creation of a specification that addresses the Rendering of XBRL Instances to declare their interest in participating in the new XBRL International Rendering Working Group. If this specification is important to your organisation, you are urged to contribute to its creation. Full details are on http://www.xbrl.org/RenderingWGCall/, including information on how to join the group and its draft charter.
|
|
| | | UK Revenue receives first tax filings in XBRL October 10, 2006 |
| | HM Revenue & Customs (HMRC) has begun receiving corporation tax submissions in XBRL, becoming the second UK Government agency to receive XBRL filings. The start of company tax filing in XBRL follows the successful launch by UK Companies House of an XBRL filing service for the financial statements of small companies.
|
|
| | | Meetings at Bank of Spain push forward XBRL activities in Europe October 10, 2006 |
| | Two meetings hosted by the Bank of Spain in early October helped to push forward projects for the use of XBRL in Europe. The 6th European Bank Supervisors XBRL Workshop on 4 and 5 October covered strategies for implementing the newly released COREP and FINREP taxonomies which support regulatory reporting by banks in Europe. The 1st Technical Meeting on European XBRL Projects on 5 and 6 October reviewed XBRL projects in a range of European countries. It discussed current XBRL developments and the main priorities for new specification modules and other technical documents. Views on priorities will go to the XBRL Standards Board (XSB).
|
|
| | | XBRL Dimensions Specification released as Recommendation October 3, 2006 |
| | XBRL International has released its Dimensions 1.0 Specification as a Recommendation. This is the final stage of approval by XBRL International, confirming that the International Steering Committee considers that it is suitable for general deployment. No substantive changes have been made to the previous version of the specification or its schemas, published in July as Candidate Release 4. The Dimensions Specification is a modular, optional extension to XBRL allowing XBRL taxonomy authors to define and restrict dimensional information. A typical example of its use is the ability to define regional and product dimensions for basic elements such as sales – although its potential uses go far beyond this simple case. It provides an important extension of the ability of XBRL to represent easily and efficiently the dimensional information which exists in business reporting.
|
|
| | | US SEC invests $54 million to pave the way for XBRL filing September 25, 2006 |
| | The U.S. Securities and Exchange Commission has awarded contracts totalling 54 million dollars to transform its EDGAR company information database, saying this paved the way for universal filing in XBRL by companies. The contracts include $5.5 million with XBRL US to complete the production of taxonomies, or XBRL dictionaries, which US companies will use to file their financial data, and $48 million with Keane Federal Systems to modernise and maintain the EDGAR database.
|
|
| | | XBRL-US to become independent organisation September 25, 2006 |
| | The American Institute of Certified Public Accountants (AICPA) announced that XBRL-US will become an independent, not-for-profit organization. Initially formed as a volunteer committee of the AICPA, the new entity will continue as the chartered U.S. jurisdiction of XBRL International and as a member-supported entity.
|
|
| | | IASCF commits to developing IFRS taxonomy for SMEs September 18, 2006 |
| | The International Accounting Standards Committee Foundation (IASCF) has committed to developing an International Financial Reporting Standard (IFRS) taxonomy for Small and Medium-sized Enterprises (SMEs) – an important step in supporting the use of XBRL by smaller companies around the world.
|
|
| | | World tax regulators and XBRL group to promote XBRL GL September 11, 2006 |
| | The Oasis Tax XML Technical Committee and the XBRL GL Working Group are offering an outreach event for accounting software vendors in San Francisco on October 5 and 6 to promote awareness on XBRL GL, the standardized Global Ledger, and encourage its incorporation in accounting software applications.
|
|
| | | US SEC small business forum to focus on XBRL September 4, 2006 |
| | The US Securities and Exchange Commission (SEC) will host a small business forum on 29 September which will focus on the advantages to small businesses in filing financial reports in XBRL to the SEC.
|
|
| | | Bryant University announces 2006/7 global XBRL academic contest September 3, 2006 |
| | The purpose of the Seventh Global XBRL Academic Competition is to provide an opportunity for students and their faculty advisors to participate in the development of business and financial reporting on the Internet and for their work to be recognized by the international community.
|
|
| | | IFRS 2006 general purpose taxonomy released by IASCF August 31, 2006 |
| | The International Financial Reporting Standards (IFRS) general purpose taxonomy for 2006 has been released by the International Accounting Standards Committee Foundation (IASCF). The taxonomy is based on the 2006 IFRS bound volume and has final status.
|
|
| | | US SEC announces plans for XBRL analysis software August 14, 2006 |
| | The US Securities and Exchange Commission (SEC) has announced plans for its own XBRL analysis tools which will run on the Web and enable investors and analysts to benefit from XBRL data. The agency has issued a formal request for proposals from the software industry for setting up a prototype system that will provide a user-friendly access to financial reports in XBRL submitted to its EDGAR database.
|
|
| | | Dimensions Specification Candidate Recommendation 4 is Published July 20, 2006 |
| | XBRL International has updated its Dimensions 1.0 Specification, releasing Candidate Recommendation 4. This contains mostly editorial and clarifying text updates to Candidate Recommendation 3. No substantive changes to the specification have been made, nor have the supporting schemas changed other than updating the copyright notices.
|
|
| | | SEC Chairman Cox leads speakers at next XBRL Intl conference July 17, 2006 |
| | XBRL International announced that the 14th International XBRL Conference & Exhibition will be addressed by US Securities and Exchange Commission Chairman Christopher Cox and other leading international government and business figures. It will take place in Philadelphia on December 4-6, 2006 to discuss and explain the use of XBRL, now being adopted rapidly for business reporting by regulators around the world.
|
|
| | | Swedish company regulator accepts accounts in XBRL July 11, 2006 |
| | The Swedish Companies Registration Office, Bolagsverket, has launched a service for the filing of annual company accounts by small and medium sized entities (SMEs) in XBRL. Several hundred thousand companies are eligible to use the service, which supports automatic validation by software and digital certification. Taxonomies for the service were developed by the Swedish XBRL jurisdiction.
|
|
| | | Canadian Securities Regulators seek market feedback on XBRL July 5, 2006 |
| | The Canadian Securities Administrators (CSA) has launched a survey to gather views from the securities markets and public on XBRL, saying the CSA is committed to improving how information is collected and provided to investors. The CSA is the council of the securities regulators of Canada’s provinces and territories. Its objectives are to improve, coordinate, and harmonize the regulation of Canadian capital markets.
|
|
| | | XBRL acknowledges China Fund Company taxonomies July 5, 2006 |
| | XBRL International has granted Acknowledged status to taxonomies being used for Fund Company reporting in China – confirming the taxonomies are fully compliant with the XBRL Specification. The China Fund Company Information Disclosure Taxonomy Framework is a set of taxonomies which cover the financial reporting requirements of the China Fund Company disclosure regulations. This set of taxonomies was developed by the Shanghai Stock Exchange (SSE).
|
|
| | | IASCF XBRL Convergence Project - first phase now online June 27, 2006 |
| | The IASCF XBRL team has released online the first phase of its XBRL convergence work. This first phase is intended to introduce the idea of convergence in so far as it relates to XBRL taxonomies. A small fragment of IFRS and US GAAP taxonomies convergence was chosen to illustrate the idea. Click above for more information and for links to the IASCF XBRL convergence samples.
|
|
| | | Spanish Senate calls on government to push forward XBRL June 26, 2006 |
| | The Spanish Senate has called on the government to push forward the use of XBRL in collaboration with regional and local government and the private sector. In an official motion, passed unanimously, the Senate also requested the government to charge a suitable body with the development of taxonomies during the next six months which will enable Spanish companies and public administrations to adopt the use of XBRL.
|
|
| | | In-depth XBRL GL training course in Virginia, US, on 13 July June 26, 2006 |
| | The first in an ongoing series of in-depth XBRL GL training session will take place on July 13th in Alexandria, Virginia. These classes are designed to help companies considering the implementation of XBRL GL, the standardized Global Ledger, or consultants wishing to provide services leveraging XBRL GL. The instructors will include experts from Taligent Research, the sponsoring company, and invited experts in XBRL and XBRL GL.
|
|
| | | More companies join US SEC programme to test use of XBRL June 20, 2006 |
| | The US Securities and Exchange Commission said another four companies had joined its programme to test the use of XBRL for financial reporting, bringing the total participating to 24. The programme will enable the companies to determine the benefits of using XBRL, provide feedback to the Commission and enable investors and analysts to assess new techniques for analyzing XBRL data.
|
|
| | | XII calls for business reporting experts to apply to Standards Board June 19, 2006 |
| | XII has called for nominations to a vacant seat for business reporting management expertise on its newly created Standards Board. The Board is charged with strenghtening the quality of its technical materials and managing their production more actively in order to accelerate adoption of XBRL around the world.
|
|
| | | Speakers at SEC roundtable call for broad use of XBRL June 16, 2006 |
| | Speakers at a US SEC roundtable on XBRL said broad use of the standard would provide significant benefits for investors. The introduction of XBRL for company financial reporting would increase the accuracy of financial data, make it easier to analyse and improve its timeliness, participants said. The roundtable was the first in a series which the SEC is holding on the benefits and uses of XBRL. The SEC has published a range of information on the roundtable at http://www.sec.gov/spotlight/xbrl.htm, including an archived video webcast, a full transcript, links to some presentations, the agenda and other background.
|
|
| | | IASCF releases EduCentre, featuring IFRS XBRL guidance June 14, 2006 |
| | The IASC Foundation XBRL Team has released EduCentre (Education Centre) on its website. This combines existing IFRS XBRL content with new educational and other material. It provides a Library section, including downloadable taxonomy guidance, Online Tools, Chronology and a News Archive. Click above for more information and to access the centre.
|
|
| | | XBRL International releases Conformance Suite for Dimensions June 14, 2006 |
| | XBRL International has released a Dimensions Conformance Suite as a Candidate Recommendation. It provides a range of tests to enable software vendors to verify that applications have correctly implemented Dimensions Specification 1.0, which is also at the Candidate Recommendation stage. Click on the link above for more information. To access the Conformance Suite, please go to www.xbrl.org/SpecRecommendations/.
|
|
| | | Dutch government and business to cooperate on use of XBRL June 12, 2006 |
| | The Dutch government and business organisations have agreed in detail on cooperation to introduce XBRL by the start of 2007 for a range of financial reporting in The Netherlands. Under an accord signed in The Hague, the government will maintain the Dutch taxonomy and the infrastructure for reporting, while businesses will take necessary steps to support delivery of XBRL. The Netherlands also published version 1.0_2005 of its taxonomy, which supports a broad range of reporting, including accounts, tax returns and statistics.
|
|
| | | EDGAR Online provides XBRL data for more than 10,000 companies June 12, 2006 |
| | EDGAR Online announced that it has significantly expanded the number of public companies for which it provides XBRL data to more than 10,000. The XBRL information, available through its I-Metrix platform, now includes 8-K earnings releases from US firms. It is also offering XBRL datafeeds from Chinese exchanges.
|
|
| | | UK plans to mandate XBRL will offer major benefits June 9, 2006 |
| | UK government plans to make XBRL mandatory for filing of company accounts and tax returns will provide significant benefits for both government and business, the architect of reforms to UK tax filing told an XBRL conference in London. Lord Carter said the introduction of XBRL would lead to smarter government and would reduce costs, providing benefits for all.
|
|
| | | XBRL-US to host two free conferences on XBRL benefits June 8, 2006 |
| | Conferences on development and benefits of XBRL are:
June 27 conference in Arlington, VA to address the public sector and government institutions.
June 29-30, conference in New York to target the investment community and financial executives.
Click on the link above or see Events for registration and other information.
|
|
| | | US SEC details plans for first roundtable on XBRL June 7, 2006 |
| | The US SEC's first roundtable on 12 June to explore the benefits and use of XBRL will focus on improving the quality of mutual fund disclosures, what investors and analysts are looking for from XBRL, how to accelerate the use of new software and what the SEC can do to help companies take maximum benefit from XBRL. Xerox Chairman and CEO Anne Mulcahy will make a keynote address in the afternoon session, according to a SEC announcement giving details of the Washington event.
|
|
| | | US SEC chairman says XBRL is vital to informing investors May 30, 2006 |
| | XBRL will serve a vital need in helping individual investors find the financial information they require, US Securities and Exchange Commission (SEC) Chairman Christopher Cox told a conference attended by leading figures in US business and technology. The growth in investment by individuals, with more than 50 pct of US citizens owning stocks, coupled with declining investment at leading Wall Street firms in research information for private investors, meant that new methods for providing easy access to company financial data were essential, Mr Cox told an American Enterprise Institute conference.
|
|
| | | XBRL constitutes and names members of its Standards Board May 26, 2006 |
| | XBRL International announced that it had constituted its Standards Board (XSB), a body established to strengthen the quality of its technical materials and accelerate adoption of the XBRL around the world. It named the chairman and five other members of the board.
|
|
| | | Ukraine Stock Market plans to introduce XBRL May 25, 2006 |
| | Ukraine's Securities and Stock Market State Commission (SSMSC) announced that it plans to create a new system to enable companies to file financial reports based on XBRL technology. Among other benefits, it will give foreign investors better access to Ukraine company data. Successful presentations by XII international have highlighted the benefits of XBRL to Ukrainian officials and companies.
|
|
| | | Madrid International Conference highlights XBRL's rapid progress May 25, 2006 |
| | The 13th XBRL International Conference in Madrid from 15 – 19 May 2006 highlighted the rapidly growing range of implementations and projects around the world which are based on XBRL. A stream of presentations reported on its successful use in the financial and public sectors, details of new projects and ideas for broader use of the standard. More than 470 delegates from twenty-one different nations attended.
|
|
| | | SEC announces number of companies in XBRL pilot grows to 20 May 23, 2006 |
| | The US Securities and Exchange Commission said the number of companies participating in a new programme to test the use of XBRL for financial reporting had grown by a further three to 20, compared with nine under an initiative last year. The programme will help explore how XBRL can improve the financial reporting process. The SEC announcement said XBRL holds the promise of transforming static, text-only financial documents into dynamic reports that can be quickly and easily accessed and analysed by millions of users.
|
|
| | | IASCF releases exposure draft of 2006 IFRS-GP taxonomy May 18, 2006 |
| | The IASC Foundation XBRL Team has released its IFRS-GP 2006 Taxonomy exposure draft for review purposes. This draft release includes revisions for 2005 IFRS amendments, new standards and interpretations (as approved by the IASB as at 1 January 2006). In particular, it reflects the new IFRS-7 financial instruments disclosures standard. It also reflects taxonomy feedback received since its May 2005 GP taxonomy.
|
|
| | | SEC official calls for simple XBRL implementations giving real value May 16, 2006 |
| | SEC Chief Information Officer Corey Booth has called for simple implementations of XBRL which can create real value in the shorter term. Speaking at the opening day of an XBRL International Conference in Madrid, Mr Booth suggested that using XBRL to encode earnings release information would be a very powerful initial niche for XBRL in the US. Another might be to use XBRL for company primary financial statements, leaving reporting of notes in XBRL to a later stage. To the see the full text of Mr Booth's review of XBRL's challenges and opportunities, click on the link above.
|
|
| | | IASCF releases Spanish labels for its 2005 GP taxonomy May 16, 2006 |
| | The IASC Foundation XBRL Team has released its Spanish translation of the complete label linkbase for the IFRS-GP (May 05) Taxonomy. Label translations are based on the IFRS International Spanish Bound Volume. Selected extensions for variances in use of the Spanish language in different jurisdictions are being compiled.
|
|
| | | Dutch Justice Minister submits accounts to demonstrate XBRL use May 16, 2006 |
| | The Dutch Minister of Justice has electronically submitted the accounts of a Dutch company to the Chambers of Commerce in a demonstration of the use of XBRL and the new Dutch finanical reporting taxonomy. The link above points to an explanation of the event, which took place on 15 May.
|
|
| | | UAE Stock Exchange recommends all companies use XBRL May 9, 2006 |
| | The Abu Dhabi Securities Market became the first stock exchange in the Middle East to foster XBRL by recommending that all listed companies in the UAE use it to facilitate analysis, improve the quality of financial information that companies distribute to the market, and enhance transparency.
|
|
| | | SEC XBRL roundtable to include focus on Mutual Fund disclosures May 8, 2006 |
| | The US Securities and Exchange Commission said that it will place a special emphasis on mutual funds at its first public forum on ways that interactive data can improve disclosure for ordinary investors. The roundtable on 12 June is the first in a series in 2006 which will focus on how XBRL will help provide investors and analysts with better financial information about companies and funds.
|
|
| | | New XBRL International Progress Report issued May 4, 2006 |
| | The XBRL International Progress Report for May 2006 is now available. Click the link above to read about the latest XBRL developments, including news and activities within XBRL International, news from XBRL jurisdictions, and member products and services.
|
|
| | | Dimensions Specification Candidate Recommendation is updated May 2, 2006 |
| | XBRL International has updated its Dimensions 1.0 Specification, releasing Candidate Recommendation 3. This contains two updates to the previous Candidate Recommendation. Feedback on this new version and the updates is requested. The specification is a modular, optional extension to XBRL allowing taxonomy authors to define and restrict dimensional information. A typical example of its use is the ability to define region and product dimensions for basic elements such as sales – although its potential uses go far beyond this simple case. It provides an important extension of the ability of XBRL to represent easily and efficiently the dimensional information which exists in business reporting.
|
|
| | | XBRL moves forward in Latin America May 2, 2006 |
| | XBRL has moved forward in Latin America with a first XBRL Congress which attracted 250 participants from a range of South American countries, including senior business figures representing stock exchanges and central banks. The congress, from 19-21 April 2006 in Buenos Aires, focussed on explaining and promoting the XBRL standard, using experience in Spain as an important example. Speakers included senior figures from the central bank of Spain, the Spanish Stock Exchange, the central bank of Argentina, the stock exchange of Buenos Aires and accountants associations.
|
|
| | | Leading US politician urges Congress to fund XBRL development April 27, 2006 |
| | Newt Gingrich, former speaker of the US House of Representatives, urged Congress to fully fund the development of XBRL in the United States. In testimony to a House of Congress subcommittee on Capital Markets, Mr Gingrich said: “Congress should fully fund the development of the XBRL project championed by SEC Chairman Cox so that U.S. companies can take advantage of this financial reporting system that allows investors and analysts to compare company performance."
|
|
| | | XBRL will enable easy-to-find data on the web, SEC Chairman says April 26, 2006 |
| | The US Securities and Exchange Commission intends to use XBRL to enable a move from long, hard-to-read disclosure documents to easy-to-navigate web pages that let investors find the data they want, SEC Chairman Christopher Cox told the Senate Banking Committee. In testimony to the committee, Mr Cox reviewed the benefits of XBRL, the SEC's commitment to XBRL and its plans for roundtables this year to move XBRL forward.
|
|
| | | Tokyo Stock Exchange to introduce XBRL reporting system April 26, 2006 |
| | The Tokyo Stock Exchange (TSE) is introducing an XBRL reporting system, saying consumers of financial information will find XBRL an extremely effective technology for receiving and analysing corporate financial information. XBRL would also ensure the timely provision of information, enhancing the setting of market prices on basis of rational investment judgements, the TSE said in a statement. Click here to see its website showing trial TSE XBRL data.
|
|
| | | XII offers free training at Madrid Conference on reporting in XBRL April 26, 2006 |
| | A free two-day training event on preparing financial reports in XBRL will be held on May 18-19 in Madrid as part of the International XBRL Conference. The primary purpose is to aid jurisdictions in developing their own trainers and champions, so jurisdictions should send members who are likely candidates for this role. The course is open only to those who have registered for the full International Conference. It is limited to 15 attendees, so those interested should book early. Please click on the link above for more information.
|
|
| | | More than 10,000 accounts filed in XBRL to UK Companies House April 25, 2006 |
| | More than 10,000 company accounts in XBRL have been successfully filed to Companies House, the UK agency responsible for collecting and publishing company data, since XBRL filing began late last year. The introduction of electronic filing of accounts in XBRL has proved very successful, with submissions running at a higher rate than planned, Companies House said.
|
|
| | | First XBRL event in Middle East will explain benefits of XBRL April 25, 2006 |
| | The first XBRL event in the Middle East, on 9 May 2006 at the Central Bank of the UAE, will explain the impact of XBRL and the benefits it offers to companies operating in the UAE and wider GCC region. Supported by the Abu Dhabi Securities Market and the new XBRL UAE jurisdiction, this seminar will hear from international and regional experts on the current status of XBRL and its future development in this region. See Announcement for more details and registration and Agenda for timetable and speakers.
|
|
| | | Ireland GAAP taxonomy gains Acknowledged status from XBRL April 24, 2006 |
| | Ireland's taxonomy for reporting under Irish Generally Accepted Accounting Practice (GAAP) has been granted Acknowledged status by XBRL International. This confirms that the taxonomy is fully compliant with the XBRL version 2.1 specification. The taxonomy, which is at the public working draft stage, is available for use and review through the link above.
|
|
| | | UK announces conference on use of XBRL for tax and accounts April 18, 2006 |
| | A major conference will be held on 9 June in London to explain UK government proposals to make XBRL mandatory for company tax returns and accounts. The conference, organised jointly by the Institute of Chartered Accountants in England and Wales (ICAEW) and XBRL UK Limited, will explain what the plans mean to accountants and software vendors. Keynote speech from Lord Carter, the architect of reforms to UK Revenue and Customs online services. For more information, including the agenda and registration, see London Conference.
|
|
| | | Poland sets up provisional XBRL Jurisdiction April 18, 2006 |
| | Poland has set up a provisional XBRL jurisdiction following strong interest in the use of XBRL by the National Bank and other leading organisations. The setting up of the jurisdiction, approved by the XBRL International Steering Committee, will enable Poland better to recruit local XBRL members and progress the use of XBRL. It already has a range of XBRL initiatives under way, including the creation of a Polish GAAP taxonomy.
|
|
| | | United Arab Emirates sets up first XBRL Jurisdiction in Middle East April 18, 2006 |
| | The United Arab Emirates has set up a provisional XBRL jurisdiction under the sponsorship of the Abu Dhabi Securities Market (ADSM). This is the first XBRL jurisdiction to be set up in the Middle East. The step was approved by the XBRL International Steering Committee in recognition of the UAE’s efforts and aims to advance XBRL. The new jurisdiction expects to adopt the IFRS XBRL taxonomy to support financial reporting in XBRL under international standards by UAE companies.
|
|
| | | XBRL project wins Dutch National Innovation prize April 10, 2006 |
| | A Dutch project to introduce the use of XBRL for a range of financial reporting has won the National Innovation prize for projects in the public sector. The Dutch Taxonomy Project came first out of 175 projects put forward for the prize.
|
|
| | | XBRL forms Standards Board to strengthen its technical output April 4, 2006 |
| | XBRL International said that it is forming a Standards Board (XSB) to strengthen the quality of its technical materials and manage their production more actively in order to accelerate adoption of XBRL around the world.
|
|
| | | XBRL International announces formation of Standards Board April 3, 2006 |
| | An XBRL International Standards Board is being formed to ensure that the technical materials produced by the consortium are of the highest quality and consistency, as well as remaining stable. It will be responsible for raising the level of openness and formality of the XBRL International standards setting process and for actively managing the process in order to improve operability and encourage adoption. XBRL International called for nominations to the new board and said Michael Ohata of Microsoft would be the chair.
|
|
| | | US Accountants leader testifies to Congress on XBRL benefits March 30, 2006 |
| | SmartPros: Barry Melancon, president and CEO of the American Institute of Certified Public Accountants, testified before Congress on the benefits of XBRL in fostering transparency and providing other enhancements to financial reporting.
|
|
| | | Seventeen companies join SEC pilot programme on XBRL March 29, 2006 |
| | The US Securities and Exchange Commission said 17 companies have already agreed to participate in a new program to test the use of XBRL for financial reporting, compared with nine under an initiative launched last year. The companies will help explore how XBRL can improve the financial reporting process, provide feedback to the SEC and enable investors and analysts to assess new techniques for analyzing interactive data.
|
|
| | | US Congressional committee hears testimony on XBRL March 29, 2006 |
| | A US Congressional subcommittee on Capital Markets, which is aiming to foster transparency in financial reporting, heard testimony on the benefits of XBRL from leading members of the accounting and securities industries. A number of speakers explained the role of XBRL in supporting transparency at a committee hearing to review initiatives by regulators and industry. The link above provides transcripts of their testimony.
|
|
| | | UK plan for mandatory use of XBRL is "sensible and prudent" March 24, 2006 |
| | The UK government’s proposal to make the use of XBRL mandatory for company tax filing from March 2010 is a sensible and prudent step which will bring benefits for both companies and government, the UK arm of the XBRL International consortium said.
|
|
| | | UK to make XBRL mandatory for company tax filings from 2010 March 22, 2006 |
| | The UK Government said that it plans to make the use of XBRL mandatory for all company tax returns due after March 2010. The step, announced as part of the annual UK budget, is part of actions to increase the use of UK Revenue and Customs (HMRC) online services, and bring cost savings to both taxpayers and government. Company tax returns comprise both full financial accounts and corporation tax computations.
|
|
| | | US Investment Company Institute announces XBRL initiative March 20, 2006 |
| | US Investment Company Institute President Paul Schott Stevens announced an initiative to adapt XBRL to disseminate financial data for use in mutual fund disclosure. "We hope to lay the groundwork for providing interactive mutual fund data that will serve the needs of investors and other interested parties," he said. (Summary, full text)
|
|
| | | First Latin American XBRL Congress announced March 17, 2006 |
| | The first Latin American XBRL Congress will take place from 19-21 April in Buenos Aires. The objective is to explain and promote the standard, using experience in Spain as an important example. Speakers include leading figures from the central bank of Spain, the central bank of Argentina, the stock exchange of Buenos Aires and from elsewhere in Latin America. Agenda and other details; Registration.
|
|
| | | Singapore regulator to introduce online filing in XBRL March 16, 2006 |
| | The Singapore Accounting and Corporate Regulatory Authority (ACRA) has launched a project to establish XBRL as a standard for online financial reporting, according to MediaCorp News. ACRA is working with the Singapore Institute of Certified Public Accountants to make filing faster, more efficient and transparent through use of XBRL.
|
|
| | | New UK Revenue service heralds broader use of XBRL in UK March 13, 2006 |
| | The launch of a service for company tax filings in XBRL by HM Revenue and Customs is an important step towards general regulatory filing of financial data in XBRL in the UK, the UK arm of the international XBRL consortium said.
|
|
| | | Taxonomy for COREP bank reporting in Europe is released March 10, 2006 |
| | The COREP XBRL Project Team has released the first public version of its taxonomy for the Common Reporting (COREP) framework. The Committee of European Bank Supervisors is sponsoring the development of the COREP taxonomy in order to help
the implementation of common regulatory reporting by European banks.
|
|
| | | SEC launches roundtables on better financial data over the internet March 9, 2006 |
| | The US SEC announced a series of roundtables to be held throughout 2006 at its headquarters in Washington, D.C., focused on speeding the implementation of new Internet tools that will help provide investors and analysts with better financial information about companies and funds.
|
|
| | | Reuters publishes results in format combining text and XBRL data March 9, 2006 |
| | Reuters has published its full-year results in new format which embeds XBRL machine-readable data in a viewable and printable document, using Intelligent Financial Statement technology provided by CoreFiling Limited.
|
|
| | | Louis Matherne resigns as President of XBRL International March 8, 2006 |
| | J. Louis Matherne announced that he will be leaving XBRL International (XII) to assume a leadership position at ISACA/ITGI, which serves IT governance professionals, effective 10 April 2006. Mr. Matherne is the founding President of XII.
|
|
| | | CCH and Rivet Software partner to deliver XBRL reporting solution March 7, 2006 |
| | Rivet Software, an innovator in XBRL solutions, and CCH, a leading provider of tax and accounting law information, software and services, have agreed a partnership to provide Rivet’s Dragon Tag™ and Dragon View™ XBRL applications to CCH customers.
|
|
| | | UK tax authority launches service for company tax filings in XBRL March 6, 2006 |
| | The UK's HM Revenue and Customs (HMRC) has launched a service which accepts online Corporation Tax filings in XBRL. The filings, known as tax computations, use a taxonomy developed by HMRC. The organisation also plans to accept company accounts in XBRL in due course.
|
|
| | | SEC Chairman hopes XBRL will make big splash with mutual funds March 3, 2006 |
| | US SEC Chairman Christopher Cox said XBRL would help individual investors disentangle this mass of facts, statistics and numbers which mutual funds are required to disclose, enabling this information to serve the individual needs of each user. "Since mutual funds are the investment of choice for retail investors, that's where we hope to see interactive data make its first big splash," he added in a speech.
|
|
| | | XBRL International publishes Product Roadmap February 28, 2006 |
| | XBRL International has published a Product Roadmap setting out the organisation’s current plans for the development and release of technical documents and production of training materials. It is intended to increase awareness of XBRL International activities as well as to support planning by members of the organisation.
|
|
| | | Link Role Registry Specification published as Recommendation February 28, 2006 |
| | XBRL International has published a final, recommended version of the Specification for the Link Role Registry – a mechanism which allows the definition of new types of relationships for use in XBRL. This is an important addition to the flexibility and power of XBRL.
|
|
| | | Taxonomy Versioning Requirements issued as public working draft February 28, 2006 |
| | XBRL International has issued a Taxonomy Versioning Requirements document as a public working draft. This describes the business requirements for controlling the process of creating a new version of an existing taxonomy. Among other things, taxonomy authors require standard means for communicating changes between versions. |
|
| | | IASC Foundation launches new XBRL website February 28, 2006 |
| | The IASC Foundation (IASCF) has launched a new website at www.iasb.org/xbrl to showcase the pioneering work of the IASC Foundation’s XBRL team. It said the website was an integral tool for keeping interested parties aware of all recent XBRL developments related to International Accounting Standards.
|
|
| | | Korea becomes established XBRL jurisdiction February 22, 2006 |
| | Korea has been approved as an established XBRL jurisdiction by the XBRL International Steering Committee following significant progress in implementation of XBRL and recruitment of members. It now has some 27 members drawn from leading Korean companies and played a key role in encouraging the country’s financial regulator, the Financial Supervisory Service (FSS), to adopt XBRL for regulatory reporting.
|
|
| | | Details of 13th International Conference in May are announced February 17, 2006 |
| | The 13th XBRL International Conference will focus on the practical uses of the XBRL standard, with particular emphasis on the benefits and advantages to be gained from putting the standard into practice. Announcement includes preliminary programme and registration arrangements.
|
|
| | | BRIL becomes first Irish company to publish results in XBRL February 17, 2006 |
| | Business Reporting Ireland Limited (BRIL), a not-for-profit company established to promote XBRL in Ireland, has released its financial statements for the period ended 31 December 2004 in XBRL format. It is the first company incorporated in Ireland to publish its accounts in XBRL.
|
|
| | | US SEC extends deadline for joining XBRL test filing group February 13, 2006 |
| | The SEC has extended the deadline for companies to join its XBRL test filing group by four weeks until 10 March following requests for more time from potential participants. Several companies have already signed up to participate but numerous members of the filing community asked for more time to investigate and prepare for participation.
|
|
| | | Belgian National Bank publishes taxonomy for company accounts February 10, 2006 |
| | The National Bank of Belgium has published a taxonomy which will be used for the filing of accounts of commercial and industrial companies from April 2007. Some 290,000 companies will be using the XBRL system.
|
|
| | | Bank of Japan starts live use of XBRL for data gathering February 8, 2006 |
| | An XBRL system at the Bank of Japan for gathering data from financial institutions has gone into live use. The system, intended to improve the efficiency of data gathering, is initially collecting Balance Sheet data. Its scope will gradually expand. A spokesman said some 500 institutions are reporting through the system.
|
|
| | | US SEC opens door for use of XBRL by EDGAR database February 2, 2006 |
| | AccountingWEB.com: In seeking a new manager for its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database, the Securities and Exchange Commission has widely opened the door for that system to use XBRL.
|
|
| | | Filing of accounts in XBRL begins in UK February 1, 2006 |
| | Companies House, the official body which receives company financial statements in the UK, has started receiving accounts in XBRL. Its new system is handling statements for audit exempt companies. After gaining experience of XBRL with this project for small company filing, both Companies House and the UK Revenue and Customs are looking to expand the use of filing in XBRL over the next year.
|
|
| | | XBRL International establishes XBRL Europe February 1, 2006 |
| | XBRL International announces it has established XBRL Europe in order to support fast growing XBRL activities in Europe and has appointed Olivier Servais as Director.
|
|
| | | US regulator reports major success from XBRL banking project January 31, 2006 |
| | The use of XBRL for regulatory bank reporting in the US has achieved major success, according to the FFIEC (Federal Financial Institutions Examination Council). The FFIEC said its XBRL-based solution, which went live in October had achieved measurable benefits, with an increase from 66% to 95% in data cleanliness, 70% to 100% in accuracy, weeks to hours in timeliness and a 15% rise in the productivity of analysts.
|
|
| | | XBRL US offers training, support to companies in SEC programme January 25, 2006 |
| | XBRL-US welcomed the SEC's plan to offer incentives to companies to take part in its XBRL voluntary filing programme and said XBRL-US will make substantial educational and training resources freely available to help companies to participate.
It has also created an information sheet for companies about the programme, which is available here.
|
|
| | | US FASB seeks manager to lead its XBRL activities January 25, 2006 |
| | The US Financial Accounting Standards Board (FASB) is seeking to recruit an XBRL Manager to lead and manage all of the FASB’s activities related to XBRL and other technology improvements for financial and business reporting systems. Click on the link above for more information about the post and how to apply.
|
|
| | | SEC to help lead the quick introduction of interactive data January 18, 2006 |
| | Speaking to a US XBRL conference, SEC Chairman Christopher Cox said the SEC would play a leadership role in moving ahead the implementation of interactive data, seeking results in months not years. Cox added that the real basis of the SEC's interest in interactive data is its fundamental mission: to protect investors. Video versons of the speech are available via http://sec.gov/news/speech.shtml.
|
|
| | | EDGAR Online to provide Chinese company data in XBRL January 18, 2006 |
| | EDGAR Online Inc announced that it will be the first U.S. financial information company to deliver Chinese company fundamental data from both the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) in XBRL format.
|
|
| | | US SEC chairman sees role for XBRL in mutual funds January 18, 2006 |
| | Yahoo.Reuters.com: Interactive data for financial reporting may hold as much promise for mutual funds as it does for corporate financial reporting, SEC Chairman Christopher Cox said. The SEC may be setting its sights on mutual funds for the next broad test of its interactive data initiative, particularly because the funds are so popular among American investors.
|
|
| | | SEC offers incentives to companies that file in XBRL January 11, 2006 |
| | The U.S. Securities and Exchange Commission offered expedited reviews of registration statements and annual reports to companies that take part in the test filing of financial reports in XBRL, saying that interactive data holds the promise of transforming the static, text-only documents companies file with the SEC into dynamic financial reports that can be quickly and easily accessed and analysed. A SEC official later said the offer was drawing "plenty of interest".
|
|