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Implementing XBRL in Your Software

Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

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Page 1: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Implementing XBRL in Your Software

Page 2: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Agenda

8:30 - 9:00 Introduction Arthur Stewart E&Y

9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

9:30 - 10:00 Real Stories: OneSource Jeff Kushmerek OneSource

10:00 - 10:15 Break

10:15 - 11:00 XML/Web Services Interoperability Chris Kurt Microsoft

11:00 - 11:15 Leveraging the XBRL Consortium Matherne XBRL/AICPA

11:15 - 12:00 Software Development Considerations Karl Busch E&Y

12:00 - 12:30 Panel Session: Q&A Arthur Stewart E&Y

Page 3: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

XBRL Adoption Promise The adoption of XBRL promises to help

companies and individuals make faster and better decisions-which will lead to more efficient capital markets that, in turn, may reduce capital costs.

Forward-thinking organizations looking to reduce costs and gain competitive advantage are already leveraging their efforts in pilot projects inside their organizations

Page 4: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Significant XBRL Implementations Several U.S. regulatory agencies (including the FDIC, OCC

and OTS) are involved in a joint project

AICPA Project gained Auditing Standards Board Approval

Several public companies are posting XBRL Instance Documents

A few Fortune 100 companies are assessing or piloting how to use XBRL to improve internal reporting

Several National Banks are currently involved in a market demonstration project

APRA - Australian Prudential Regulatory Authority

Inland Revenue Service – UK

Many Software Vendor Solution Pilots

Page 5: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Recent Financial Software Vendor Survey

AICPA personnel performed a telephone survey of 21 leading financial software vendors during the 2nd quarter of 2003

Page 6: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Methodology - August 2003 Software Survey

Survey covered 59 separate ERP and GL products

Survey respondents Characteristics: Individuals were product managers or others familiar

with the products and future planned enhancements For this survey, accounting software included ERP,

general ledger and reporting software. For purposes of analysis, companies were further

segregated by their customer size – large (Tier A) and small/medium (Tier B).

Page 7: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Key Findings - August 2003 Software Survey

XBRL is taking hold with accounting vendors Although user demand is perceived to be low/moderate. Two

thirds of the accounting software vendors surveyed have either already XBRL enabled, or have decided to enable, one or more products

Customer Size Matters Accounting software vendors oriented towards large companies

are ‘further down the XBRL/XML road’ then software primarily oriented to small/medium companies

Focus is on outputting in XBRL Not import XBRL or G/L enable. As expected.

Understanding is key to XBRL Enablement Of the 7 companies whom have not yet decided to XBRL enable,

only two say they have a good understanding of XBRL

Page 8: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Predictions - August 2003 Software Survey

Accounting Applications 12/31/03 12/31/04 12/31/05

Percentage of ERP Vendors & Products XBRL Enabled

33% &

20%

75% &

50%

>90% & >75%

Percentage of G/L Vendors & Products XBRL Enabled

20% &

15%

40% &

33%

>75% & >75%

Percentage of Consuming Applications XBRL Enabled

? ? ?

Page 9: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

The Expected Evolution of XBRL

1999 – 2000

Significant Market Need & Demand

Participation of Key Stakeholders

Organizational Development & Structure

Wide Usage & Significant Market Benefits Validated

Technology Standard and Base Taxonomies are Developed

User and Preparer Implementation Guidance is Developed

XBRL Use Grows:1. Geographically2. By Industries3. Types of BR

New & Existing Software is XBRL Enabled

Milestones

International Participation and Focus

2007 ?

2004 – 2006?

2001 – 2004

Global Recognition

Market Acceptance

Base Development

Denotes estimated status of meeting the milestone

STANDARD SETTING STAGES

Medium - Best Practice

ANTICIPATED LEVEL OF ADOPTION

High – It is a Standard

Low – Industry Leaders & ‘Pockets’

Very Low – Innovators

Maturity of Core Components:1. Taxonomies2. Software Tools3. Impl. Guidance

Page 10: Implementing XBRL in Your Software. Agenda 8:30 - 9:00 Introduction Arthur Stewart E&Y 9:00 - 9:30 Real Stories: Oracle Corporation Rob Zwiebach Oracle

Real Stories