dmueller2001's blog

Don't miss OMG and EDM Council Joint Working Group Meetings and Webcast: Towards a Sustainable, Data Standards Driven Approach to Financial Reform

What: A two day dialogue between standards organizations and regulators (with a US focus) on financial reform and the role of standards
When: 22 March 8:45-5 EDT; 23 March 9 - 5 EDT
Who: Object Management Group, Enterprise Data Management Council, XBRL, ISO TC 68 (ISO 20022) and others
Where: Arlington, VA and webcast

Webcast information:
Visual: https://www.livemeeting.com/cc/citiglobalweb/join?id=6WDF7P&role=attend
Audio - see detail below for local call in numbers;
US Toll free: +1 (877) 716-6484
US/international Toll: +1 (678) 224-7890
Participant code: 8688481

If you are at SXSW, be sure not to miss this panel:  Power to the People: Regulating Big Business After being witness to a multitude of massive corporate accounting scandals, the world has been forced to re-evaluate almost every area of how business is conducted. A new day is dawning in the world of information, and the people are demanding more visibility into the everyday operations of companies and governments. In order to pacify the public outcry for increased knowledge, regulatory controls such as Sarbanes-Oxley and Base III have been enacted. In addition, regulatory agencies like the SEC are rapidly embracing new approaches to providing the public with information and data through the use of eXtensible Business Reporting Language (XBRL). The SEC and other governing bodies have recognized that the democratization of corporate and government data, through the use of XBRL, will guarantee a higher level of transparency and usability.

 

 

 

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-FierceContentManagement-FierceContentManagement

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/

by George Farkas, CEO/ Founder, XBI Software Inc

It is most welcome that in the Federal 2010 budget, the Minister of Finance, Jim Flaherty announced that they would establish a Red Tape Reduction Commission. A second edition of a study by the Canadian Federation of Independent Business (CFIB), “Prosperity Restricted by Red Tape,” estimates that businesses in Canada currently spend over $30 billion each year complying with regulations. This amount is much too high, especially for small business, which is the most important element in stimulating our economy and employment.

XBRL Canada welcomed this announcement. In February, 2007, their annual conference was dedicated to explaining the cost of compliance (red tape). In the report “Reducing the Burden of Compliance through Standardization”, it was pointed out that reducing the compliance burden has two components: One is reducing the amount of information demanded by government. The other is reducing the difficulty in supplying the information that is required.

The new red tape reduction commission should include recommendations:

TORONTO March 10 /CNW/ -  The announcement in the Federal Budget Document tabled in the House of Commons on March 4 that includes a Red Tape Reduction Commission is a welcome move for Canadian business. The complexities of compliance mandated by government agencies are substantial and often redundant. At present, companies who file with the federal departments and agencies must file a diverse number of different reports, usually in different formats. The inefficiency of this approach costs reporting companies substantial dollars in unnecessary expense for systems maintenance, multiple data input and completion of various forms. Leveraging the efficiencies of a unified system employing XBRL could save considerable dollars. It is important to note that XBRL is an open standard currently in various stages of use worldwide.

Over twenty countries have implemented programs to reduce the compliance burden and red tape for companies reporting to government agencies. In several of these countries, XBRL is well recognized as an important part of achieving efficiency within these programs.