Liv A. Watson, Vice President of Global Strategy EDGAR Onli [Nasdaq: EDGR]

Annual conference in Salt Lake City (May 19th to 22nd, 2008).

The benefits, potential applications, and broad adoption of XBRL

© 2006 EDGAR Online, Proprietary and Confidential -

June 18, 2008 2

Transforming Financial Reporting The Internet Since 1996

Oct 1996 –EDGAR Online - First company to extract all EDGAR Filings match to CUSIP and publish on the Internet

1999 –EDGR becomes listed on NASDAQ

1999 – Initial member of XBRL consortium

2005 – EDGAR Online launches largest database in the world of XBRL data for public companies

2007– SEC Releases N1A Mutual Fund XBRL Taxonomy

2007 –EDGAR Online pilots Mutual Fund XBRL Tagging

July 1997 EDGAR Online starts contract with American Express to extract & recombine compliance info for Mutual FundsSigns contract with Nasdaq to extract compliance listing data for securities from SEC filings .

Oct 24 1997EDGAR Provides free access to all Mutual Funds Prospectus

May 1996 –All US Public Companies Reporting to SEC EDGAR System

2001 EDGAR Online expands Mutual Fund processing to 100% of all SEC reported funds

EDGAR Online announces 144A dataset

2003 – EDGAR Online adds Diversified Investments and Gold-K as customers of the E-Prospectus service

2007 – EDGAR Online begins providing Muni Bond Prospectuses

2002 – EDGAR Online proposes E-Prospectus solution to Fidelity

2007– SEC /XBRL Hires EDGAR Online to complete US Equities XBRL Taxonomy

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XBRL - Is there a problem?

Overview of XBRL

Global Adoption of XBRL

What is XBRL?• Each line item is given data tag standardized• By Industry, By Local GAAP• International Standard – XBRL.ORG

Benefits• Quality• Detail• Timeliness• Reduced Reporting Costs• Global Standard• Applicable across all asset classes

• Equities• Mutual Funds• Muni Bonds• Etc.

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A global, collaborative effort that enables those interested in the business reporting supply chain to agree on how to better communicate business reporting information to each other.

A technical specification — a language that enables information and services to be exchanged by means of user-and industry-specific tags — to represent data with a specific set of syntax, taxonomies, and instance documents.

A group of people coming together representing different aspects of the business reporting supply chain to define taxonomies for their specific industries.

The 'Too Much Information' Age

Validation

Standardization

CalculationCash = Currency +

DepositsFormulas

Cash ≥ 0Contexts

US $FY2004

Budgeted

LabelcashCashEquivalentsAndShortTermInvestments

ReferencesGAAP I.2.(a)Instructions

Ad Hoc disclosures

PresentationCash & Cash Equivalents

XBRLItemXMLItemXBRLitem

PresentationComptant et Comptant

Equivalents

PresentationGeld & Geld nahe Mittel

PresentationKas en Geldmiddelen

Presentation现金与现金等价物

Presentation現金及び現金等価物

PresentationДеньги и их эквиваленты

PresentationГроші та їх еквіваленти

BusinessOperationsProcessesProcesses

Internal Financial Reporting

ParticipantsAuditorsTrading

Partners

InvestorsFinancialPublishers and DataAggregators

Regulators

Software Vendors

ManagementAccountants

Entities(Pubic Companies, SMEs, Public Sector)

CentralBanks

ExternalFinancialReporting

Economic Policymaking

Investment,Lending,Regulation

XBRLTaxonomies and Extension Taxonomies(statistics, central banks, tax, others)

XBRL GLJournal Taxonomies

XBRLGAAP Taxonomies,IFRS-GP, US-GAAP, etc.

Countries seeking convergence with the IASB on pursuing adoption of IFRSs

Countries that require or permit IFRSs

UKCA

ESUS

AU

NZ

IE

JPKR

BE

CO

BR

AR

PT

RU

SG

HK

NOSE

PL

FI

IT

CN

IN

LB

CZ

UA

LUIASB

AE

NL

TR

GR

MTCH

FR

SI

HU

AT

Established Jurisdictions

Provisional Jurisdictions

Projects Ongoing

DE

DK

ZA

Focus in 2008

IL

Ibero-América Projects

MY

CL

PE

MX

BO

UY

DO

XBRL International Governing Structure XBRL International Governing Structure

www.xbrl-cn.com

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2001 2002 2003 2004 2005 2006

☆XBRL JAPAN Establishment

☆6th

International Conf☆JIS

☆12th

International Conf

PoC 1st Phase

OnsiteExperiment

2nd Phase

OffsiteExperiment

3rd PhaseContinuousExperiment

GOLIVE

Bank of Japan

eTax

eLTAX

NationalTax

LocalTax

☆JIS TR

TDNET

Australia - RFT issued for SBR Project December 12, 2007 The Australian Bureau of Statistics has issued a Request for Tender (RFT) for an XBRL Taxonomy Development Environment for the Commonwealth Standard Business Reporting Programme.

www.tenders.gov.au

• Established EU XBRL Jurisdictions – Denmark, Germany, Ireland, Netherlands, Spain, Sweden, UK, France, Belgium, Luxembourg

• US SEC – forecasted to mandate in 2008 . 3,500 elements in core financials, 13,000 elements in footnotes• IFRS Industry Level Taxonomies are still being completed

EUROPEBelgium -CBFA & National BankEU - CESR, CEBSFrance – Bank de France, AMFNetherlands -4 major ministries & Water BoardsNorway - ExchangeSpain - Bank of Spain,& CNMV, Sweden – Companies HouseUK – HMRC (Companies House)

ASIA/PACIFICAustralia – Government WideChina – Shanghai & Shenzhen Exchanges, CSRC, SFCIndia – Bombay & India National Exchange, Bank of IndiaJapan – Tokyo Exchange & Bank of JapanKorea – KOSDAQSingapore - ACRAThailand – Thailand Exchange

MIDDLE EAST/AFRICAAbu Dhabi – ExchangeIsrael - Securities AuthoritySouth Africa - Exchange

SOUTH AMERICAArgentina – Bank of ArgentinaBolivia - Government-wideBrazil – Bank of BrazilChile – Bank of ChileColumbia – Bank of ColumbiaPeru – Bank of Peru

Active XBRL ProjectsActive XBRL Projects

Expected to be Expected to be Mandated in 75% of Mandated in 75% of WorldWorld’’s Market Cap by s Market Cap by end of 2008end of 2008

NORTH AMERICACanada – CSA, Toronto ExchangeCayman Islands - CIMAUS – FDIC, SEC, IRS, Dept of ParksWorld Bank – Micro Lending

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Better Peer Analysis The identified attributes, when fully integrated, will make it easier to understand a company’s complex business operations and compare it to peer companies and alternative investments . Authoritative guidance on extensions will increase comparability across companies and time-periods

Improves Data Accuracy Valuation analysis is only as good as the data/information put into the models. With XBRL, analysts increase the reliability of their valuation with properly tagged data .

More Thorough Evaluations With a taxonomy of increased granularity, the investment professional can relate the footnote disclosures directly to values from the face of the financial statements

Increases Transparency Given the wealth of information available in the source documents, XBRL increases the valuation consistency by pinpointing the commonly extracted items.

More Timely Analysis Having computer-readable reports increases the timeliness of the updates and eliminates potential "human error" in the updating process . Allows user to easily see what elements have been restated

Increases Analyst Productivity Easier to up load data into financial models.

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Washington, D.C., June 27, 2007 - Securities and Exchange CommissionChairman Christopher Cox announced the establishment of an advisorycommittee that will examine the U.S. financial reporting system with thegoals of reducing unnecessary complexity and making information more

useful and understandable for investors.

The U.S. Security Exchange Commission to Mandate XBRL.

http://www.sec.gov/about/offices/oca/acifr.shtml

SEC Pilot Program had limited acceptance of XBRL due, in part, to the following:

◦ Companies need greater certainty that XBRL will be adopted before they will expend the necessary resources to understand it and its benefits; and

◦ Companies may be concerned about potential start-up costs in adopting XBRL, including purchase of software and personnel resources for data input and training.

◦ Further, analysts and software developers are generally unaware or uninformed about XBRL.

http://www.sec.gov/about/offices/oca/acifr.shtml

On an interim basis the SEC should require XBRL to be implemented on a phased-in basis as follows: ◦ The largest 500 domestic public reporting companies based on

unaffiliated market capitalization (public float) should be required to:

Furnish to the SEC, as is the case with the voluntary program today, a document prepared separately from the reporting company’s financial statements filed as part of their periodic Exchange Act reports that contains the following: -XBRL tagged face of the financial statements; and -Block tagged footnotes to the financial statements.Domestic large accelerated filers (as defined in SEC rules, which would include the initial 500 domestic public reporting companies) should be added to the category of companies, beginning one yearafter the start of the first phase, required to furnish XBRL tagged financial statements to the SEC.

Blah blah blah

Blah blah blah blah

Blah blah blah

Blah blah blah blah blah

Profit 925 448

Blah blah blah

Earnings per share 3.6 11.0

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In an April 4 letter commenting on CIFR’s views about XBRL, Arnold Hanish, chairman of the Committee on Corporate Reporting of Financial Executives International, bluntly wrote:

“As preparers, we have learned that there are no improvements at this time in our internal processes as a result of creating and providing tagged information and that preparers do in fact experience increased costs and efforts as a result.”

Financial Executives InternationalFinancial Executives InternationalChairman of the Committee on Corporate Reporting of Financial Executives International,

Arnold Hanish

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“The phonograph is of no commercial use”- (Thomas Edison, 1880)

“Everything that has been invented has been invented” - ( Charles Duel, Director US Patent Office, 1899)

Who the hell wants to hear actors talking?”- (Harvey Warner, 1927)

“I think there is a world market for about five computers” - (Thomas J. Watson, Chairman, IBM, 1943)

There is no reason for any individual to have a computer in their home”- (Ken Oloson, President of Digital Equipment Corp., 1977)

“640k ought to be enough for anyone”- (Bill Gates, 1981)

If you do not think that XBRL is something that will impact you sooner rather than later, you better keep your fingers crossed

that your competitor has the same attitude!

Be part of the Solution - Not part of the Problem

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Liv A. WatsonLiv A. WatsonEDGAR Online Inc – Vice President of Global Strategy

Chair: XBRL International Jurisdiction Working Group

E-mail: lwatson@edgar-online.com

Phone: (203) 856 8986

Web: www.edgar-online.com & www.tryxbrl.net

Thank you!Thank you!

Ms. Liv A. Watson,Vice President of Global Strategy at EDGAR Online, Inc. (NASDAQ: EDGR)

XBRL International Steering Committee MemberChair – XBRL International Jurisdiction Development Working GroupBoard Member - Institute of Management AccountantsPast XBRL US Adoption ChairPast XBRL US Vice ChairUniversity of Albany – Advisory Board MemberUniversity of Southern Indiana – Advisory Board Member

Liv A. Watson is the Vice President of Global Strategy at EDGAR Online Inc. (Nasdaq: EDGR) where she is responsible for developing EDGAR Online's International business development strategy. EDGAR Online is a leading provider of value-added business and financial information on global companies to financial, corporate, and advisory professionals. The company makes its information and a variety of analysis tools available via online subscriptions and licensing agreements to a large user base. She has spent the last 15 years finding new ways to apply her financial and business reporting expertise to technology and her technical expertise to accounting. Working globally with leading market regulators, accounting associations and institutions, Ms. Watson has been instrumental in the creation of the XBRL International framework for the financial and business reporting supply chain. Liv has presented XBRL to a wide range of audiences from international standards bodies to Fortune 500 companies and speaks with authority about its benefits, potential applications, and broad adoption. Livauthored one of IMA's most successful CPE courses "Accounting System Technology for the 21st

Century". She has also authored several published articles on future trends of the profession for international publications and journals including Harvard Business Review, Strategic Finance and writes a monthly column of financial and business reporting trends for CPA2Biz.