1. Say it in XBRL & the World will Listen
Haksu Kim, CFA & CPA
Reuters America
11th XBRL International Conference
April 27, 2005

2. XBRL for Investment Community
Not Creating New Information
Enhance Quality of Data thru XBRL
Efficiency
Effectiveness

3. Measurement of Quality
Accuracy
Exactness
Completeness
Consistency for Comparison
By Sector
By Country
Worldwide
Timeliness

4. Document Preparation Using XBRL
Standardization of data items
Fast and effective delivery
Convenient access to individual data items
 Automation from preparation to usage of data

5. Fundamental Data in Reuters
1. Sourcing Documents
TXT, HTML, PDF, hard copy
2. Compiling Data
Manual and Seasonal
3. Processing for Analytics
4. Delivery of Analytics

6. 1. Sourcing Documents Hard Copy Costly for Collection
Costly for Storage
Limited for Redistribution
Need to Covert it in an Electronic Format
Economical for Collection  Timeliness
Economical for Storage
Economical for Redistribution
Sharing Among Global Offices
TXT, HTML, PDF
XBRL
Economical for Collection  Timeliness
Economical for Storage
Economical for Redistribution
Sharing Among Global Offices

7. 2. Data Compiling Time-Consuming for Manual Process Hard Copy
Costly from Errors, Inconsistency
Costly for No Search Capability
Still time-consuming process
Difficult for any significant automation
Marginal benefits from Search Capability
TXT, HTML, PDF
Possibly Complete Automation  Timeliness
Neutral to (Foreign) Languages
XBRL

8. 3. Processing for Analytics
No Audit Trail back to the source document
Hard Copy
Limited Audit Trail back to the source
No improvement in consistency
of account titles
TXT, HTML, PDF
Complete Audit Trail
Consistency in reported definition of line
items by sector/by country
(Not yet in consistency among countries)
XBRL

9. Limitation with XBRL Divergence in Reporting Formats among Companies
Not All Data Items are in Taxonomy
Quantitative Data
Qualitative Data
Divergence in Accounting Standards in Different Countries
Lack of Efforts by Regulatory Authorities

10. Convenient Software Tools
XBRL to be Successful
Enrich Taxonomy
In-depth of Data Items
Hierarchical Relationship among Data Items
Flexible for Future Development
Convenient Software Tools
Preparers
Users
Support from Regulatory Authorities
Stock Exchanges
Industry Associations

11. Collective Efforts for Improvements
Diverse Groups for Taxonomy Development
Accessible by Various Software
For Data Processing
For Conventional Uses
IFRS for EU Member Countries