“XBRL in Government and Industry” The SEC Voluntary Filing Program A CFO’s Perspective Greg Adams, CFO & COO EDGAR Online, Inc.

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Presentation transcript:

“XBRL in Government and Industry” The SEC Voluntary Filing Program A CFO’s Perspective Greg Adams, CFO & COO EDGAR Online, Inc.

Financial Executives  Have a critical responsibility to communicate operational results to stakeholders  Are facing a growing demand for efficient delivery in an interactive medium  Need better tools for faster decision making  Want their internal control environment enhanced through less retyping, more system integration, etc.

EDGAR Online’s Sample Form 8-K

edgr xsd edgr _cal.xml edgr _lab.xml edgr _pre.xml EDGR_2004_10K.xml

XBRL: A Technology Standard XBRL is a business reporting standard that ultimately boils down to a globally agreed- upon standard using XML for its core technology.

Capitalizing on XBRL through Enhanced Analysis  I·Metrix solutions provide users with the most timely fundamental and supplementary data, analytical templates and toolsets at a substantially lower price point than our competitors. The new I·Metrix family of products provides XBRL data and solutions today

XBRL and Excel

Immediate Verification

Benefits of XBRL for Preparers  Lower cost of producing information  Tell your own story (precise & clear)  Expanded communication “ reach ”  More timely, accurate, data for decisions  Enhanced analytical capabilities  Better control environment – extension of SOX 404  Accelerated adoption of reporting model changes

I·Metrix also includes standard and customizable templates

Integration of XBRL Data with Dashboard and Business Intelligence Platforms

Conclusions  XBRL provides an immediate ROI for benchmarking  Financial executives can meet their critical responsibility to communicate operational results to stakeholders  Growing demand for efficient delivery in an interactive medium  Tools and services are available today to facilitate  Preparation of Financial Statements  Analysis  Benchmarking  XBRL is an extension of SOX 404 requirements

Thank You! Greg Adams, CFO & COO EDGAR Online, Inc.