XBRL eXtensible Business Reporting Language By: Jeff Elston Jake White and Garrett Allen

Agenda  HTML  XML  XBRL  Throughout; Business Implications  How it all comes together  Questions?

What is HTML?  Definition: HyperText Markup Language is a common manner for displaying text-based information in web pages via an internet browser.  Characteristics: HTML assigns ‘tags’ or labels to textual information. These ‘tags’ define where and how the browser should arrange and display the information.  History: “Since 1996, the HTML specifications have been maintained, with input from commercial software vendors, by the World Wide Web Consortium (W3C).” Wikipedia.com

HTML Explained  HTML converts coded information from web documents into an easily viewed display for end- users.  Advantages:  Image display  Formatting (font, color, placement, etc)  Disadvantages:  Data cross referencing capability  Display application only  Inadequate for business – “tags” are not uniform

What is XML?  Definition:  Extensible Markup Language.  XML is a markup language for documents containing structured information.  Structured information is…  A markup language is …  What's a Document?

XML Explained  XML’s primary purpose.  XML was designed to describe data and to focus on what data is.  XML was created to structure, store and to send information.  XML’s role in business.

What is XBRL?  Definition: XBRL (Extensible Business Reporting Language) is an XML-based language being developed specifically for the automation of business information requirements, such as the preparation, sharing, and analysis of financial reports, statements, and audit schedules.

XBRL Explained  A language for the electronic communication of business and financial data which is revolutionizing business reporting around the world.  Why is XBRL important!  Standardization (Public & Private sharing)  Manual, repetitive, & error prone processes become automated.  SEC  Financial Analysts  Investors

XBRL System PUBLIC FIRMS SEC INTERNET FINANCIAL ANALYSTS INVESTORS

Relationships: HTML+XML+XBRL  HTML v.s. XML  HTML v.s. XBRL  XML v.s. XBRL

XML to HTML Process PC monitor displays HTML file End user receives information XML-coded information is organized and made available via website Desired data Data gets coded in industry-specific XML Data is then stored on servers Data viewable by website is converted to HTML format PC downloads the websites temporary HTML file

Questions?