Introduction to XBRL Consortium Newcomers Session

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Introduction to XBRL ConsortiumNewcomers Session

• Presenter Grant Boyd - Vice Chair XBRL-Marcomm.
• General Manager - Corporate Services - Institute
  of Chartered Accountants of New Zealand

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Introductions

• Name, company, etc.
• Why are you here
• What do you expect to get out of XBRL
  International
• Who would you want to network with
• How do you want to contribute

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Todays Agenda

• The XBRL Vision/Mission/Goals
• Guiding Principles
• International Jurisdictional Structure
• How we are organized
• Work group participation
• XBRL Process
• What to expect
• Membership responsibilities
• How you get involved

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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.

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The XBRL Mission

• To enhance the availability and cost
  effectiveness of creating the business reports of
  today and tomorrow

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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.

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Short Term Goals

• Education (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
• Taxonomies
• Encouragement of continued open development of
  taxonomies.

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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

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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

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XBRL International Governance Operational
Structure
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Supply Chains

• 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

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Supply Chains

• Benefits
• Talk to national and international members about
  specific supply chain issues
• Details are on the website - in the About the
  Organisation section

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XBRL International Governance Operational
Structure
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Working Groups
International Working Groups
Specification
Domain
Basel II
Marketing Comm.
Education
Research
General Ledger
Domain subgroups
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Working Groups

• Established at both International and Local level
  ( except SPEC) to further XBRL developments
• Details on the website of the groups and their
  objectives

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XBRL International Governance Operational
Structure
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At Large Members

• Individuals who provide valuable contributions to
  XBRL
• Ability to elect four to the Steering Committee

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Jurisdictions

• Each Country has a seat on the Steering
  Committee. Rotate so that one or two change every
  year
• Each Country responsible for XBRL adoption

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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

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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

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Tools and Help

• Website has a number of tools and lots of
  information
• www.xbrl.org
• Download the Jurisdictional Jumpstart kit
• Join the e-groups

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• QUESTIONS?