1 Neal Hannon and Saeed Roohani XBRL Educational Resource Center At Bryant College XBRL Education Co-Chair Phone: The Next Technology Revolution XML XBRL Rhode Island Society of Certified Public Accountants May 17,

2 Today’s Objectives Overview of XBRL Show you how this technology makes doing E- Business: –Faster –Cheaper –Better Conclusion

Find the best solution to connect the nine points together with no more than four straight lines without lifting your writing instrument.

What assumptions are you making?

If you do not assume that you cannot extend your lines beyond the imaginary square formed by the box the puzzle becomes easier to solve.

Henry Dudeney was born 144 years ago – 10 th April 1857 Dudeney is best known for his publications of mathematical problems and pastimes, some of which provoked serious mathematical research

7 “Everything “that can be invented “has been invented.” Charles H. Duell Commissioner of U.S. Office of Patents, urging President William McKinley to abolish his office, 1899

8 Don’t assume that the lines must pass through the center of the dots.

9 Don’t assume that the line must be thin.

10 Just to prove I can do it with two lines.

11 Don’t assume that the paper must be flat.

12 If you rip the paper into nine segments, you can stack them and poke your point through all at once.

13 Don’t assume that you cannot crease the paper.

14 Don’t assume that the lines cannot extend beyond the edge of the paper.

15 Don’t assume that you cannot rip the paper.

16 From Evansville Courier and Press Is There A Problem?

17 Let’s move up the Value Chain TransactionsData InformationKnowledge DecisionsTransactionsData InformationKnowledge DecisionsTransactionsData InformationKnowledge DecisionsTransactionsData InformationKnowledge Decisions

18 Searching for the word “Mercury” on the Web can provide search results such as-- Hg Content—without Context

19 Evolution to Web Services Technology Innovation FTP, , Gopher Web Pages Web Services TCP/IPHTMLXML Connectivity Presentation Automation Browse the Web Program the Web Text Files

20 XML XML stands for: eXtensible Markup Language Universally accepted method of exchanging information

21 What Is XML? “XML is a platform-independent, self-describing, expandable, standard data exchange format

22 How does it work? XML gives meaning to information through the use of tags Saeed Roohani Bryant College Chair, Accounting 29 Caution.. …Just because something is.. Does not mean it is accurate?

23 XML Simplified XML DATA Context 1,000 Net income : Company Currency Period Rounding Roll-up XBRL

24 XML Document XML Document Core Schema Core Schema Company Specific Vocabulary Industry Specific Vocabularies Transformatio n Tools The XML Puzzle Data Context XBRL Taxonomies XML Rules Style sheet

25 What XML Is Not NotWhat XML is Not –Not –Not a religion. –Not –Not the solution to all world problems. –Not –Not a solution for all electronic commerce problems. –Not –Not a solution to all legal-technology problems.

26 Why Is XML/XBRL So Important? Portable Vendor neutral Readable data format by humans and machines More flexible and easier to use than EDI All major software products are becoming “XML” enabled Defacto standard for financial data exchange

27 XML Growth Widely expected to reduce cost of publishing to the Net by as much as 50%. And by next year … Gartner Group prediction 70% of all B2B transactions executed on the Web will be done using XML.

28 Who defines the tags? Tags are defined by industry consortiums Each industry’s standard tags are commonly referred to as a taxonomy

29 Astronomy Aerospace Music Industry Human Resources (HRML) Chemical Industry Financial (XBRL) Industry Taxonomy Development

30 Who’s Building Taxonomies?