eXtensible Business Reporting Language (XBRL) - an Update - IFAC
eXtensible Business Reporting Language (XBRL) - an Update - IFAC eXtensible Business Reporting Language (XBRL) - an Update - IFAC
Communication Processes Transparency "New Math" (= Available) + (Accessible + Reusable) Traditional proprietary and unstructured formats (PDF, html, Word, Excel, asci, etc.) Where do analysts currently obtain the data that populates their analytical models? Are these third party data aggregator sources: Accurate? (20% to 25% error rate) Complete? (80% to 90% omission rate) Timely? (24 to 72 hour delay) Standardized company disclosures provides direct, accurate, complete and timely communication Broadcasting via RSS versus website posting Who is using XBRL? (Regulators, analysts, auditors, investors, etc.) Social Analytics Is transparency a two way street?
Internal Management Processes Traditional proprietary software applications have common attributes: Physical integration, Technical and/or manual queries, Embedded intellectual property These attributes enable / create costly maintenance, rigid / siloed processes, inherent opacity, Standardizing proprietary systems and abstracting select intellectual property Enhances internal transparency Lowers systems maintenance costs (eliminates the N 2 mapping problem) Enhances access and reuse of data, business rules, presentation and relationships Improves overall business process agility Company examples (60% cost reductions; 80% time reductions, control and agility enhancements)
- Page 1 and 2: eXtensible Business Reporting Langu
- Page 3 and 4: 5 C u ← Largely unaffected | Larg
- Page 5: Benefits of Built-in Adoption Inclu
- Page 9 and 10: Appendix Communication Distortion e
- Page 11 and 12: Unfortunately…..Noise, Omissions,
- Page 13 and 14: Examples of Noise, Omissions, Error
- Page 15 and 16: Dell 10-K vs. Yahoo (Liabilities)
- Page 17 and 18: Dell 10-K vs. Yahoo (Cash Flows)
- Page 19 and 20: Dell 10-K vs. Google (Income)
- Page 21 and 22: MSFT 10-K vs. MSN 10-K (Cash Flows)
- Page 23 and 24: MSFT 10-K vs. MSN 10-K (Assets)
- Page 25 and 26: Caterpillar 10-Q vs. Yahoo (Assets)
- Page 27 and 28: Caterpillar 10-Q vs. Yahoo (Income
- Page 29 and 30: Examples of Social Analytics Social
- Page 31 and 32: Case Study Implementation Examples
- Page 33 and 34: The ROI at Fujitsu XBRL GL used to
- Page 35 and 36: …The Solution at Wacoal Case Stud
- Page 37 and 38: Resources for Internal Process impl
- Page 39: THANK YOU! November 9, 2010
Communication Processes<br />
Tr<strong>an</strong>sparency "New Math" (= Available) + (Accessible + Reusable)<br />
Traditional proprietary <strong>an</strong>d unstructured formats (PDF, html, Word, Excel,<br />
asci, etc.)<br />
Where do <strong>an</strong>alysts currently obtain the data that populates their <strong>an</strong>alytical<br />
models?<br />
Are these third party data aggregator sources:<br />
Accurate? (20% to 25% error rate)<br />
Complete? (80% to 90% omission rate)<br />
Timely? (24 to 72 hour delay)<br />
St<strong>an</strong>dardized comp<strong>an</strong>y disclosures provides direct, accurate, complete <strong>an</strong>d<br />
timely communication<br />
Broadcasting via RSS versus website posting<br />
Who is using <strong>XBRL</strong>? (Regulators, <strong>an</strong>alysts, auditors, investors, etc.)<br />
Social Analytics<br />
Is tr<strong>an</strong>sparency a two way street?
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