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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
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
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
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
Recent Financial Software Vendor Survey
AICPA personnel performed a telephone survey of 21 leading financial software vendors during the 2nd quarter of 2003
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).
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
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
? ? ?
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
Real Stories