XII Releases Financials in XBRL
(March 29, 2012) Open Source Tools and XBRL GL Bring XBRL to the Small Business Arena
XBRL International, Inc. today released its FY2011 financial statements in XBRL format utilizing the Arelle framework, the Deeply Embedded XBRL Toolkit (DEXT) and XBRL GL. XII financial reports for fiscal years 2003 – 2011 are available at http://www.xbrl.org/financial-statements-0.
“There is a building excitement around having an XBRL extraction tool for Quickbooks available in an open source environment,” said XII CEO Tony Fragnito. “This is a way for small businesses not operating under a mandate to begin to harness the power of XBRL in a cost-effective way”.
The data conversion was accomplished using an Arelle Project web service that interfaces with QuickBooks, using XBRL GL as a standardized format to represent transaction-style data such as trial balance, journal and general ledger. US GAAP reports were created using DEXT.
QuickBooks data is represented with XBRL's Global Ledger Taxonomy Framework (XBRL GL), a standard for representing detailed ERP system data from first transaction to end reporting. XBRL GL integrates seamlessly through and across systems - whether accounting, operational or management reporting and recording. It provides the drill-down details from end reporting concepts through General Ledger with full reconciliation capability.
Arelle is a project to provide the XBRL community with an easy to use open source platform for XBRL using a compact yet robust framework that can be used as a desktop application and can be integrated with other applications and languages utilizing its web service. Users can explore the functionality and features from an interactive GUI, command line interface, or web services, and can develop their own controller interfaces as needed. The Web Service API allows XBRL integration with applications, such as those in Excel, Java or Oracle.
DEXT is a suite of freely available software tools and community-maintained libraries of standardized chart of accounts, mappings to XBRL taxonomies, and standardized business rules. It is designed to enable the use of XBRL within the enterprise, whether it is subject to an XBRL mandate or not, to reduce costs and increase efficiencies in internal and external reporting. More information on DEXT is available at http://dext.iphix.net.
“As the organisation that developed and maintains the XBRL specification, we felt it was necessary to provide our financial statements in XBRL by using tools available in the marketplace that catered to our specific needs. Arelle, DEXT and XBRL GL fit the bill,” Fragnito concluded.
Prior year XBRL statements will be made available as soon as the data is converted.