Launched in 2001, XBRLSpy is an online community aimed at improving access to financial information around the world through promotion of the XBRL standard. XBRLSpy hosts a open central repository of news, mailing lists, and other resources in support of a growing and thriving open source community with over 500 community members.
XBRL International announce that its now offering a XBRL Foundation Certificate online training and examination program is now available.
IMA ((Institute of Management Accountants) announced today its support of H.R. 2146, "The Digital Accountability and Transparency Act" (DATA Act), and urged the full U.S. Senate to proceed on passage of its companion bill (S. 1222). The DATA Act passed the U.S. House unanimously on April 25, 2012 and has been referred to the U.S.
Waterfall program would require investors to annotate assets, export in XML.
(Linux Magazine - Trevan McGee)
The U.S. Securities and Exchange Commission published a 667-page proposal that, among other things, outlined the implementation and use of a Python program that would annotate asset-backed securities, allowing potential investors to have periodic access to an ABS's pool asset performance, which include the interest rate, level of prepayments, defaults and losses-given-defaults.
The Waterfall computer program, as it's called in the proposal, would provide potential investors with detailed information about an ABS. In doing so, the program would effectively reduce (but not eliminate) an investor's dependency on third-party analysis by providing updated information typically available only in the prospectus.
"By running the waterfall computer program in combination with other internally-developed or commercially available vendor interest rate, prepayment, default and loss-given-default models, cash flow engines, or computational services, investors should be able to promptly run cash flow simulations and generate present value estimates for ABS tranches," the proposal states.
The proposal requires that an asset data file be created every time an ABS and final prospectus is registered. The asset data file is then uploaded to the Electronic Data-Gathering, Anaylysis and Retrieval (EDGAR) system, the SEC's public database. Potential investors or the curious public can download the file and view it within The Waterfall computer program. Investors also can input their own predictions regarding pool asset performance.
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If you are at SXSW, be sure not to miss this panel: Power to the People: Regulating Big Business
MetaMoji is pleased to announce the upcoming webinar entitled 10 Myths about Inline XBRL (iXBRL). There's something about XBRL, particularly the inline XBRL apoach to publishing financial information, that has captured people's imagination. Inline XBRL has become a new hope for solving a multitude of complex issues involved in the financial information supply chain, by individuals and organizations alike. Whether you are a financial analyst, accounts preparer, or developer, this webcast will offer guidance to properly engage the new inline XBRL ecosystem. Please join Metamoji's Principal Advisor (and chair of the XBRL International Technical Working Group) Diane Mueller, who will describe how make the most of inline XBRL and navigate the XBRL terrain.
This webinar is taking place on: November 5th 2010 @ 4pm UK (12pm EST, 9am PST).
Registrations can be made here
or at http://bit.ly/cjma4N
CONTACT DETAILS
Ben Walshaw MetaMoji Corporation
Phone: +44 (0)203 286
ben@metamoji.com
June 30, 2010 — 7:23am ET | By Ron Miller a Guest Post by Diane Mueller ( reposted from FierceContentManagement.com )
These are interesting times for Financial Content providers and consumers. The U.S. Securities and Exchange Commission (SEC) put the first stake in the ground during the Cox administration when they mandated the use of XBRL and began in stages to require large public companies to submit XBRL-tagged documents to the SEC, turning corporate financial statements into more easily searchable and comparable documents.
Congress tries to expand it
Back in May, Rep. Darrell Issa (R-Calif.), introduced the Government Information Transparency Act (H.R. 2392) in an attempt to standardize the collection of business information throughout federal agencies. It would require agencies to use a single data standard (XBRL) and require that collected information be made readily available for public access.
This month, I found myself suddenly following legislative twitter feeds as the Members of the House of Representatives and Senate debated amendments to the Dodd-Frank Financial Regulatory Reform bill that included a discussion of requirements that companies use a standard like XBRL when reporting financial data to federal agencies.
Read more: Where content meets code: U.S. SEC mandates, Python and financial content - FierceContentManagement http://www.fiercecontentmanagement.com/story/where-content-meets-code-us-sec-mandates-python-and-financial-content/2010-06-30#ixzz0sMDvzPID
Subscribe: http://www.fiercecontentmanagement.com/signup?sourceform=Viral-Tynt-Fier...
The XBRL International Steering Committee and the XBRL International Standards Board have approved the publication of the Inline XBRL Specification and the associated registry of specified transformations as a RECOMMENDATION. A conformance suite accompanies this. In addition an open source reference implementation of a validator and extractor has been provided.
For more details please see http://www.xbrl.org/SpecRecommendations/
(Linux Magazine - Trevan McGee)
Waterfall program would require investors to annotate assets, export in XML.
The U.S. Securities and Exchange Commission published a 667-page proposal that, among other things, outlined the implementation and use of a Python program that would annotate asset-backed securities, allowing potential investors to have periodic access to an ABS's pool asset performance, which include the interest rate, level of prepayments, defaults and losses-given-defaults.
The Waterfall computer program, as it's called in the proposal, would provide potential investors with detailed information about an ABS. In doing so, the program would effectively reduce (but not eliminate) an investor's dependency on third-party analysis by providing updated information typically available only in the prospectus.
"By running the waterfall computer program in combination with other internally-developed or commercially available vendor interest rate, prepayment, default and loss-given-default models, cash flow engines, or computational services, investors should be able to promptly run cash flow simulations and generate present value estimates for ABS tranches," the proposal states.
The proposal requires that an asset data file be created every time an ABS and final prospectus is registered. The asset data file is then uploaded to the Electronic Data-Gathering, Anaylysis and Retrieval (EDGAR) system, the SEC's public database. Potential investors or the curious public can download the file and view it within The Waterfall computer program. Investors also can input their own predictions regarding pool asset performance.
XBRLSpy Reseach is pleased to announce "XBRLSpy for the iPhone", the first iphone XBRL-enabled application for viewing, downloading and sharing US SEC Corporate Filings and we invite you to participate in our pre-release user feedback program .
Semantic XBRL Data Search Using SPARQL -from HitachiDataInteractive.com
Written by Ashu Bhatnagar Posted on May 19, 2009
We all use Google for Web searches on a daily basis and admire the simplicity of its front-end user interface. It’s nice, clean, fast, and simple.
Behind this simplicity lie sophisticated index databases and advanced search technologies, but we as users don’t need to know or understand these. All we need to know are smart keywords that help direct our searches from hundreds of billions of marked-up HTML pages scattered across the global Internet.
When we try to search using regular SQL database search technologies, though, we run into difficulties. Why? Because most of this web content is in distributed HTML flat files and isn’t organized in any centralized database with well defined data structures and schema. It’s like a world full of roads with no roadmaps. Go discover!
Search engines like Google, Ask, and others find the content that matches with our queries by building and employing centralized databases that contain metadata, where every keyword acts as a tag and has fast and efficient links to corresponding websites. In other words, a search engine acts like a very knowledgeable guide for us, responding to our queries with found/not found answers based on the Internet roads it has access to and has crawled before. Read more at Semantic XBRL Data Search Using SPARQL
Includes Experts in Business Reporting, Accounting, Regulatory Reporting and Standard Setting
On April 15th, 2009 at 12:00 noon EST, XBRL Canada will host an interactive webinar to discuss the impact of XBRL and IFRS adoption on the regulatory environment for Canadian companies as seen by the Securities and Exchange Commission (SEC) and the Canadian Securities Administrators (CSA).
By Diane Mueller
How can you turn the U.S. SEC eXtensible Business Reporting Language (XBRL) mandate’s requirements into an opportunity when making process improvements to comply? Implement an XBRL-enhanced document management strategy as part of your internal corporate filing workflow which will both boost compliance and save money.
Strategies for Success
Document management is based on applying the principles of structured content — documents that have been chunked into meaningful component parts and tagged in a systematic fashion. In the case of the corporate financial reporting process, the structure now being applied to financial content is XBRL, the financial XML standard that promises to transform, and perhaps revolutionize, how companies create and use their financial information to meet business objectives. With the SEC mandating the use of XBRL, now is the perfect time to take advantage of these two converging industry best practices. Its standardized structure makes the application of document management systems possible for the corporate accounting sector, whereas in the past, the lack of structure had hindered the adoption of document management strategies in this domain.
Document management workflows have long been known to speed the delivery of corporate information materials, improve quality and accuracy of content across the global enterprise, increase staff efficiency with content, and reduce publishing costs. IT departments have been waiting a long time for accounting departments to open up the kimono to document management practices for the sake of improving archiving, content reuse, and data management. Going forward, successful organizations will apply document management practices to help streamline their corporate reporting processes.
Ekaros published their 2005 Buyer's Guide to Audit, Anti-Fraud, and Assurance Software2005 Buyer's Guide to Audit, Anti-Fraud, and Assurance Software which this year includes guidance on XBRL-enabled software offerings.
This easy-to-use annual Buyer's Guide was designed to deal with the fast-growing market for audit software. Particularly with the emergence of Sarbanes-Oxley, auditors are under increasing pressure to automate, and the range of new software options is growing rapidly. This Guide contains information on more than one hundred vendors and evaluations of their products.
(AccountingWEB.com)
The American Institute of Certified Public Accountants (AICPA) is holding its 33rd annual National Conference on Current Securities and Exchange (SEC) and Public Company Accounting Oversight Board (PCAOB) Developments this week. The conference is being held at the Marriott Wardman Park located at 2660 Woodley Road, NW, Washington, DC. The conference will conclude Wednesday, December 7, 2005.
The AICPA’s new Chair, Leslie Murphy, opened the conference. Murphy said, “Reliable and transparent financial reporting is fundamental to the well-being of our capital markets. The regulators and standard setters with whom we have collaborated to bring you this conference play a vital role in setting the bar for quality business reporting.” She continued, “Now, more than ever, CPAs and the regulatory community must work together. The richest solutions to issues are those that we will craft together.”
(cxotoday.com)
If you file your accounts, reports, applications, make credit risk assessments, publish financial information, use information published by others or exchange information external to your organization, chances are you will feel the need for something like XBRL.
XBRL is a language for electronic communication of business and financial data, which provides benefits in preparation, analysis, and communication of business information.
It is an open standard, free of license fees, being developed by a non-profit making international consortium
Foremost proponents of XBRL and the industry's leading experts gathered at an event organized jointly by the XBRL Pre-working Group - XBRL international consortium and Tally solutions in Mumbai, to discuss the key concepts and practices of the new technology.
(SmartPros) — Today the American Institute of CPAs kicks off its National Conference on Current SEC-PCAOB Developments in Washington, D.C.
The sold-out conference, the biggest AICPA event of the year, brings together regulators and accounting policy makers for three days. Video simulcasts of the event will be held in New York and Illinois, which are also sold out.
The conference will include a keynote address on Monday from Securities and Exchange Commission Chairman Christopher Cox. Other presenters include Public Company Accounting Oversight Board members Charles Neimeier and Douglas Carmichael, and Financial Accounting Standards Board Chairman Bob Herz.
XBRL to develop e-reporting methodology for Indian Cos: Chairman 12/5/2005 9:31:21 AM IST
The well-known XBRL which is a consortium of well-known e-commerce multinationals like Infosys, Satyam, HCL for developing standards for electronic reporting will shortly take into its fold a good number of corporates and develop for them e-reporting methods to enable them file them their statutory requirements to bodies like RBI, SEBI, Deptt. of Company Affairs and the like. This was stated by visiting Chairman of XBRL International, USA, Kurt Ramin while delivering a keynote address at ASSOCHAM and Tally Solutions Pvt. Ltd. on Saturday.
(webcpa)
Rivet Software announced a marketing deal with the American Institute of CPAs to promote Rivet's Dragon Tag and Dragon View applications as the software of choice for accounting and finance professionals. The applications both implement the Extensible Business Reporting Language.
XBRL is a technology that tags financial information through disparate applications and carries it through the business reporting chain can lower costs and provide enhanced analytical capabilities for users, preparers and consumers of financial statements. The Securities and Exchange Commission is working on efforts to standardize the language's use for the filing of public company and investment company financial reports.
B2B Interoperability software company TIE Holding N.V. ("TIE") listed on the EuroNext Amsterdam Stock Exchange hereby publishes its results for the financial year 2005 (October 1, 2004 - September 30, 2005). Following a profitable fourth quarter, the year was concluded with a net profit of EUR 61.000 (2004: EUR 580.000). The revenue for the year increased from EUR 7.6m in 2004 to EUR 7.8m. Shareholder’s equity improved from EUR 1.2m negative to EUR 0.4m positive.
During the past year, the management of TIE focused on strengthening its capital base and further streamlining the organization to develop a sound foundation for further growth. Two acquisitions were completed in 2005: TIE France in April and Nspyre in June. The Company is now ready to take advantage of improving market conditions, and is well positioned in the market for Business-to-Business Interoperability, Global Data Synchronization and Product Information Management.
Interview with Mike Rohan, CEO of Rivet Software
With the initial implementation of Sarbanes-Oxley (SOX) behind us, the primary issue now becomes one of efficiency and sustainability. Improvements in the way financial data is reported and maintained gives a boost to both investor confidence and public perception, but it is imperative that businesses put in place tools that make Financial Integrity Management cost effective and efficient.
SOX elevates financial data, more than ever before, to the gold standard for the financial status of a company, yet it is often managed and maintained with a complex network of software solutions, each with wildly varying degrees of integration and steep learning curves.
(s-ox.com)
Investors today need access to information in real time, and that information can’t be static.
The U.S. Securities and Exchange Commission, which is planning a major push to let investors use the Internet to access mutual fund and corporate information, has announced a request for software vendors to help.
The request came in the form of a draft Request for Proposals (RFP) for the ongoing management of the EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system.
EDGAR has been the backbone of the SEC’s disclosure program since the early 1980s. It receives approximately 700,000 filings each year from tens of thousands of corporate securities issuers, investment companies, and individuals.
(Reuters) - The U.S. Securities and Exchange Commission on Tuesday said that it is seeking proposals from software vendors for the long term management of the SEC's electronic filing system and is looking at awarding the contract in the summer of 2006.
The system, widely known as EDGAR, currently receives about 700,000 filings per year, but SEC Chairman Christopher Cox believes the system is no longer state of the art.
Northrop Grumman Corp. (NOC.N: Quote, Profile, Research) subsidiary TRW Inc. currently manages the EDGAR system.
It won the last EDGAR modernization contract in 1998. At the time, the SEC estimated that the total contract would be worth a total of $102 million over the eight years ending in the summer of 2006.
(intelligent enterprise)
Big banks, brokerages and consumer packaged goods companies put millions of dollars and months of effort into normalizing, cleansing and analyzing competitive data as quarterly and annual corporate earnings reports are released. Extensible business reporting language (XBRL) and a growing list of XBRL-enabled tools and applications now promise to help big companies skip the demanding normalizing and cleansing steps. Smaller companies, meanwhile, may be able to afford analyses that were formerly cost prohibitive.
XBRL is an XML-based format for financial reporting that provides a computer-readable way to tag more than 2,000 financial data points such as cost, assets, net profit and other values. The SEC has recommended XBRL for reporting, but has held off on a mandate — a move widely viewed as inevitable. In the meantime, data aggregator Edgar Online is converting data reported to the SEC to XBRL, normalizing more than 1,000 data points on at least 12,000 companies.