it is about improving the way information is shared
URL: http://xbrlblog.com
Updated: 8 weeks 16 hours ago
The last post on the XBRL Blog Magazine
After nearly three years I decided to stop working on XBRL Blog Magazine. It was a truly memorable and worthwhile experience. I enjoyed while I was reading the articles of my contributors on the blog but also from other sources (XBRL Business Information Exchange, Hitachi Data Interactive, LinkedIn groups 1-2-3-4-5, Twitter stream...) and imagining how will our semantic future look like.
[This is a content summary only. Visit XBRL Blog Magazine for more.]
[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
XBRL for Silos
Where I live, in the UK’s West Country, a silo is somewhere you keep manure. Something smelly that you want to keep isolated from the rest of the farm. It’s not much different in IT data-management. A silo is an isolated datastore and much of the effort of corporate IT departments is focused on getting silos to talk to each other. So it’s useful to remember that XBRL is also an important mechanism for driving the data interchange used for integrating silos.
[This is a content summary only. Visit XBRL Blog Magazine for more.]
[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Sock One and Sock Too
The concept of XML/XBRL tagging has been explained to newcomers in many ways – barcodes for financial data has always been popular – but I must have missed this enlightening description involving items of Liz Hurley’s clothing, offered on the UK ICAEW IT Counts blog by Simon Hurst way back in 2008…
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Interview with XBRL International Inc. CEO Mr. Tony Fragnito
We had the pleasure of interviewing the CEO of XBRL International Inc. (XII) Mr. Tony Fragnyto. The topic of our conversation was the process of adoption of XBRL around the world and impact of that process on different aspects of business reporting.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
The XBRL Eventstream
Danny Werfel, the Comptroller for the Federal Office of Management and Budget (OMB) makes a good point when he states: “The way I approach it, and have collective agreement among the key leaders among leaders at Treasury, OMB, and other critical parties that are thinking about this, is that XBRL is the second question to ask.”
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
It is time for XII and XUS to “eat their own dog food”
It is a great expression: "eating your own dog food". It conveys that wonderful idea that if it is good enough for others, it should be good enough for you. It is also a litmus test of the validity of a concept or idea. Imagine if Oracle used SAP for its internal and external reporting, supply chain management, etc. Imagine if doctors refused to take the drugs they prescribe. Isn't it time that XBRL International (XII) and XBRL US inc (XUS) actually ate their own dog food?
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
6/30 Fiscal Year-end Filers: Your Year 2 Tagging Table Is Ready
I remember back in freshman English my teacher had us memorize a Shakespeare quote from Macbeth, the one that starts "To-morrow, and to-morrow, and tomorrow creeps in this petty pace from day to day..." (Macbeth, Act 5, Scene 5).
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Truth About Validation, Part II: Acceleration Can Hurt, Deceleration Rocks
Since my original post about valuation and its impact on XBRL submissions, there has been additional discussion and detail brought to light that I think warrants a revisit. The good news is that the "falling out of a Group"/deceleration discussion I had in my original post is still true. The bad news, on the other hand (and trust me...it's pretty bad), is for some companies that accelerate.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
XBRL US Labs Introduces Online Consistency Checks to Improve XBRL Data Quality
XBRL US, a non-profit advancing open standards for XML business reporting in the U.S., today announced the launch of XBRL Consistency Suite, a set of online XBRL tools that help public companies identify inconsistencies in XBRL documents related to the use of the XBRL US GAAP Taxonomy. In the over 1,400 XBRL financial statements that have been submitted to date, thousands of errors have been identified, including incorrect use of signs, missing XBRL-tagged elements, and tags that should not...
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
iXBRL: UK companies have a Great Opportunity
Very soon all companies in the United Kingdom are going to be producing iXBRL versions of their financial statements and providing those to HMRC (Her Majesty's Revenue and Customs - the tax department). This provides UK companies, especially all listed companies, with a fantastic opportunity to increase the quality of reporting they provide to investors.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Well Can It?
I had a chuckle when I read a recent Business Finance magazine blog post Can XBRL finally automate finance by Alan Radding. Partly because this was not framed as a question (no ?), which was odd, but mostly because it reminded me of my own article for Business Finance back in November 1999...
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
XBRL: The Views of Stakeholders
Back in December 2009 the the UK-based ACCA conducted some research into XBRL. The purpose of this research was to conduct a questionnaire survey of accountants in UK listed companies (FTSE All Share)...
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Coming or Going Concern
I recently posted the blog, XBRL Accountants in the Hot Seat and thought that I should spend a little more time on the “going” concern of XBRL vendors. With the upcoming detail tagging mandate for Wave 1 filers and the Wave 2 mandate hitting at the same time, XBRL vendors will be working hard to ensure timely and accurate filings using software that scales to detail tagging.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Bonzer! It’s SBR
Standard Business Reporting (SBR) comes into effect in Australia from July 2010, but there are some differences in the way that the Australian Government is moving forward with XBRL-based financial reporting compared to both the USA and the UK.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Will history repeat?
The Board of Directors of XII is made up, completely, of directors just like the second person above. They all have day jobs, and while they are all committed to XBRL, I wonder just how much time they actually can give to XII.
Yet the existing and proposed bylaws of XII put a huge amount of responsibility on these board members.
Section 4.1, item iii of the proposed responsibilities of the Board of Directors includes: "(iii) Identify resource requirements and the relationship of funding...
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
XBRL Accountants in the Hot Seat
With detail tagging just around the corner for Wave 1 filers, the initial filing for Wave 2 this year, and Wave 3 filers starting to get on board, it is critical that accountants continue their education on XBRL and their current vendor.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
XBRL Filing Made Easier With the Release of SEC XBRL Mandate for Dummies(R)
Clarity Systems, a leader in external reporting solutions, today announced the launch of the Clarity Systems Limited Edition SEC XBRL Mandate for Dummies guide. The book is designed to clearly and cleverly explain what can be a daunting topic: the requirements of the U.S. Securities and Exchange Commission's phased-in mandate for filing SEC submissions in the XBRL format.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Pulling Power
Many people have highlighted XBRL as a key part of the ‘financial’ semantic web but the fact that this is starting to hit mainstream thought is evidenced from this quote from the introduction to David Siegel’s new book: Pull: The Power of the Semantic Web to Transform your Business – one of the few to approach the semantic web from a business perspective…
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Rivet Rockettes
Here at Rivet we are always thinking of new ways to better service our customers particularly when they are up against it – frantically tagging their financial statements to comply with S.E.C. deadlines. We know that in situations like this, customers need the fastest possible response from our highly qualified staff of technical wizards and professional CPAs.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
Financial Data Democratization
Financial data democratization is one of the long-touted anticipated benefits of XBRL but is there any evidence that this has any foundation in reality? Well apparently there is. The Hitachi XBRL blog reports that recent research has established a link between the use of XBRL reporting and a reduction in ‘information asymmetry where a select few investors have better access to information’.
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[This is a content summary only. Visit XBRL Blog Magazine for more.]
Categories: XBRL News
