introduction to xbrl consortium newcomers session presenter: grant boyd - vice chair xbrl-marcomm....
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Introduction to XBRL Consortium
Newcomers SessionPresenter: Grant Boyd - Vice Chair XBRL-Marcomm.General Manager - Corporate Services - Institute of
Chartered Accountants of New Zealand
IntroductionsName, company, etc.Why are you hereWhat do you expect to get out of
XBRL InternationalWho would you want to network
withHow do you want to contribute
Today’s AgendaThe XBRL Vision/Mission/GoalsGuiding PrinciplesInternational & Jurisdictional
StructureHow we are organized
Work group participationXBRL ProcessWhat to expectMembership responsibilities
How you get involved
The XBRL Vision A worldwide consortium of participants in the
business and financial information supply chain. Oversee the creation, development, submission
and maintenance of the XBRL specification and related taxonomies for business & financial reporting data.
Over the next 5 to 10 years, all worldwide electronic business reporting and exchange of business reporting information between machines, applications, and people will be available using XBRL as the language of choice.
The XBRL MissionTo enhance the availability
and cost effectiveness of creating the business reports of today and tomorrow
Goals
The primary goal of XBRL is to reduce the cost of information, accelerate its flow, increase its usefulness and globalize its form and content.
Short Term GoalsEducation (Training)
More rapid creation and dissemination of materials and knowledge about how to use XBRL
Specification (Technology) Ongoing Clarification - keep 2.1 stable for 12 months
TaxonomiesEncouragement of continued open development of taxonomies.
Guiding Principles Market driven model – WIN – WIN - WIN
Start simple, be inclusive Broad supply chain participation Members support XBRL Members do not compete on the “framework” Build structure & systems to support open
community & parallel taxonomy development Liaison with other XML efforts Neutral 3rd Party facilitator Long term success – XBRL International
Why International? Enhanced participation
Web is a global platform/local content Facilitates broader participation Includes all supply chain participants Leverage cross jurisdictional resources
Creation of a Market Demand Pull/Adoption
XBRL International Governance & Operational Structure
Supply Chains
Preparer, Private Sector
Academic
Software & Services
Accounting
Intermediaries
Investors/Creditors
Analyst
Exchanges
Public Sector Preparers
Supply ChainCommunities
2nd VC
Regulators
Preparer, Public Sector
Tax Agencies
Supply Chain Community (SCC) represents a functional area in, or supporting, the business reporting process.
It facilitate international activities, collaboration and sharing expertise across borders.
Supply Chain Community members
•Members of an established Jurisdiction•Individuals who participate in the working party of a Provisional Jurisdiction
Supply ChainsBenefits
Talk to national and international members about specific supply chain issues
Details are on the website - in the ‘About the Organisation’ section
XBRL International Governance & Operational Structure
Working Groups
Domain
Basel II
Marketing & Comm.
Education
Grants
Research
General Ledger
Specification
International Working Groups
…Domain subgroups…
Working GroupsEstablished at both International
and Local level ( except SPEC) to further XBRL developments
Details on the website of the groups and their objectives
XBRL International Governance & Operational Structure
At Large MembersIndividuals who provide valuable
contributions to XBRLAbility to elect four to the
Steering Committee
JurisdictionsEach Country has a seat on the
Steering Committee. Rotate so that one or two change every year
Each Country responsible for XBRL adoption
Jurisdictional Expectations Actions—
Vigorous executive support Commit resources Implement within your organizations Publish your financial statements Enable your applications and/or tools Recruit others to join XBRL Ensure interoperability with other Internet
initiatives Urge adoption of XBRL by other companies Be the leader
What you can do Attend Participate
Take responsibility Communicate
E-groups (XBRL-INT, XBRL-jur, XBRL-public, etc.) Instructions for posting [TOOLS], [GEN], itd. Keep postings to PUBLIC issues
www.xbrl.org Look for opportunities
Tools and HelpWebsite has a number of tools
and lots of informationwww.xbrl.orgDownload the Jurisdictional
Jumpstart kitJoin the e-groups
QUESTIONS?
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