New Year, New Formats!
We are very pleased to round out the year by being able to announce that new versions of the Open Information Model (OIM) and xBRL-JSON specifications have been released for public review. The release includes some significant improvements and simplifications to the xBRL-JSON representation, which provides an alternative representation for XBRL data. This is part of our effort to make XBRL data much easier to work with in modern software. Software vendors, regulators and others are strongly encouraged to experiment with the new formats with new approaches to data collection, storage, publication and analysis.
The OIM is part of XBRL International’s strategic initiative to modernise the XBRL specifications by providing a syntax-independent representation of the information in an XBRL report. This enables easy transformation of XBRL data between different formats, including XML, CSV, JSON and relational representations. It has been designed in such a fashion as to protect the existing investments in XBRL systems right around the world.
The XBRL Standards Board approved the publication of these specifications at Candidate Recommendation status, indicating the specifications are mature and whilst the may change further prior to finalisation, implementation and testing of the specifications is actively encouraged in order to provide feedback to the standards setting process.
The specifications, along with a summary of the key changes, can be found on our specifications site.