XBRL: Harness the Digital Power

XBRL: Decision Making in a Digital Economy How XBRL Will Make a Difference

The Internet and XML HTTP, HTML and the Static Web HTTP, HTML and the Static Web  Flat files, Data needs to be re-keyed XML: Communicating Computer to Computer XML: Communicating Computer to Computer  Dynamic Possibilities for External and Internal Reporting

XBRL: Primary Reporting Tool of Digital Economy All company data moving to digital All company data moving to digital XML: the means of transport XML: the means of transport XBRL understands XML data XBRL understands XML data  Not just tagging financial statements  Meaningful reports tied to transactions

E-Reporting Adds Value Business at the Speed of Fiber Business at the Speed of Fiber Digital Business is Connected Digital Business is Connected Automatic Sensing Through Intelligent agents Automatic Sensing Through Intelligent agents Common Thread: Digital Media, including XML Common Thread: Digital Media, including XML

So…Why is this Important? Tagging financial facts transforms the information into digital media Tagging financial facts transforms the information into digital media Digital information can be: Digital information can be:  Understood by computers  Read by humans  Collected by software agents  Re-positioned as a report or Web site  Better serve the financial information user community

What Is XBRL? Simply put: It’s a tagging system for financial data. And much more. Simply put: It’s a tagging system for financial data. And much more. Similar to the UPC codes on food in a grocery store Similar to the UPC codes on food in a grocery store Tags contain information about financial facts such as cash balances Tags contain information about financial facts such as cash balances Can provide the basis of analysis Can provide the basis of analysis

XBRL: Solves the Puzzle Using many digital data formats Seeing connections, sensing problems, seeking solutions

Why XBRL? + Faster Analysis of Financial Information + Based on XML standard (ensuring platform interoperability) + Digital Media For Business Analysis _________________________________________ = Business Reporting Language for the Future General Ledger ebXML XBRL Journal Entries HR XML Strategic Business Information Internal and External Reports

XBRL Reports Labor Transaction XBRL Report E-commerce Inventory Move Information moves up and down in a two-way flow X M L

E-Reporting The natural extension to The natural extension to the e-business revolution the e-business revolution Purchase Order XML Invoice Journal Entry XBRL XML-enabled ERP HR CRM E-commerce Balanced Scorecard Digital Report s

Digital Reporting and Analysis External Reporting is just the beginning. External Reporting is just the beginning. Transactions, transactions Transactions, transactions Two-way analysis Two-way analysis

XBRL Digital Reporting Investor Relations Investor Relations Investment Management Investment Management Tax Reporting Tax Reporting Regulatory Reporting Regulatory Reporting Management and Business Reporting Management and Business Reporting XBRL for Financial Services XBRL for Financial Services XBRL in e-Government XBRL in e-Government

Becoming an XBRL Organization Choose your Implementation Model Choose your Implementation Model  XBRL on Top  XBRL Inside  XBRL Side by Side  XBRL Online XBRL: Primary Digital Reporting Tool XBRL: Primary Digital Reporting Tool

XBRL and Digital Information Trends International Issues International Issues  Financial Reporting Solutions, SA  ISA taxonomy Auditing and Trust Issues Auditing and Trust Issues XBRL as Digital Media XBRL as Digital Media Semantic Web Semantic Web

When is XBRL Coming? When the market demands it through: When the market demands it through:  Regulation  Tangible Cost Benefits  Major players adopt, find success  Financial supply chain savings Major obstacles to implementation Major obstacles to implementation  Cost to get started must come down  Educating workforce

Industry Survey Demo Workflow Coke and Pepsi file 10K EDGAR Online processes 10K’s EDGAR Online sends notification Analyst receives and starts Industry Survey Value Added Analysis (Pivot Tables) Analyst Chooses Companies XBRL files transferred to Industry Survey Create Chart from Analysis Publish to Powerpoint and the Web

Workflow 1.Coke files 10k 1.Coke files 10k 2.EOL process 10k 2.EOL process 10k 3.EOL sends out 3.EOL sends out 4.Analyst receives 4.Analyst receives 5.Analyst starts I/S template 5.Analyst starts I/S template 6.Analyst chooses companies 6.Analyst chooses companies 7.Analyst generates raw data 7.Analyst generates raw data 8.Analyst creates value added analysis 8.Analyst creates value added analysis 9.Create data tables 9.Create data tables 10.Pop PPT 10.Pop PPT 11.Add bullets to PPT 11.Add bullets to PPT 12. Publish to Web 12. Publish to Web 13.Send out notifications 13.Send out notifications

Where do we go from here? Join XBRL.org Join XBRL.org Learn new digital reporting methods Learn new digital reporting methods Use XBRL enabled information for internal business Use XBRL enabled information for internal business Watch IAS for further developments Watch IAS for further developments

Where do we go from here? Visit web.bryant.edu/xbrl

XBRL: Harness the Digital Power