As the UK Government finalises its draconian plans to implement XBRL filing of Company Accounts in 2011 and the US SEC has imposed mandatory filing in XBRL on about 500 companies this year, Microsoft loses out on an obscure patent stopping it shipping Word with embedded XML.
So what’s all the fuss about? XBRL (Extensible Business Reporting Language) has been around for 10 years – it’s a form of XML (Extensible Mark-up Language) which has been around a lot longer. A mark-up language is a dictionary of tags that allows a computer program to describe the text. So Word uses its own ‘tags’ to describe the text e.g. paragraph, capitals etc. HTML (Hyper Text Mark-up Language) is a basic mark-up language used for web-pages. XML is a generic form of tags enabling marked-up text to be used for a variety of applications e.g. mobile phone text messages, eCommerce etc. It was developed by the WWW (World Wide Web) consortium as an open standard. XBRL takes these tags a stage further and describes the environment that a set of financial accounts have been drawn up e.g. year, period, account name etc. All of these tagging tools are designed to be read my computers – they are gobbledygook to the untrained eye.
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Start Date: Wednesday, August 19, 2009 2:00 PM ET
Length: 1 Hour
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Description:
Crossfire Analyst is a robust and sophisticated web-based application that supports the aggregation and analysis of information from Interactive Data filings, ERP systems, Data Warehouses and traditional financial data feeds.
Crossfire Analyst has remarkable support for Interactive Data that allows users to easily merge and analyze data from multiple XBRL sources such as the SEC (Corporate Financials and Mutual Fund Risk & Return), FDIC Bank Call Data and international sources such as the Japanese, German and Shanghai stock exchanges.
Start Date: Wednesday, August 19, 2009 3:00 PM ET
Length: 1.5 hours
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Description:
This webinar is designed to help companies implement XBRL reporting for SEC filing and will include key steps, decisions and considerations for implementing XBRL, insight from SEC representatives who will provide updates on regulatory activities, how to use a taxonomy and demonstrations on how create XBRL-formatted financial statements.
Topics:
- SEC Update on regulatory activity
- Planning – Key steps, decisions and considerations
- A Preparer’s View – Case Study
- Implementing XBRL: How to create XBRL-formatted financials
- Quality control issues
Date: Tuesday, August 25, 2009
Duration: 60 minutes
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Summary:
The SEC recently announced an aggressive timeline for public companies to begin submitting financial reports in XBRL format. This means all public companies need to act quickly to tag their financial data from among the 15,000 available terms in the XBRL taxonomy of US GAAP. Attend this webinar to see a product demonstration showing how an Integrated XBRL solution addresses the SEC mandate while also automating your external reporting process and reducing the risk associated with submitting these sensitive documents. This demonstration will show how Clarity FSR delivers XBRL tagged reports while leveraging both MS-Excel and the formatting capability of MS-Word – allowing for the production of highly formatted reports with corresponding commentary and supplementary notes. Also included will be a discussion of the numerous output options available such as XBRL, MS-Word, MS-Excel and Adobe PDF.
For further information or questions please contact:
Rachel Jordan
rjordan@claritysystems.com
Toll Free: 1-877-410-5070 x 555
Local: 416-250-5500 x 555
Date and time: Thursday, September 10, 2009 12:00 pm
Moderator: Mike Schlanger, Merrill Corporation
Panelist: John Turner, Core Filings and Lou Rohman, Merrill Corporation
Duration: 1 hour 30 minutes
Description: Join our expert panel for an interactive roundtable discussion on case studies based on the first XBRL filers. Learn best practices and key recommendations from those who have been through their first round of XBRL filings.
The XBRL panel will discuss these key topics:
- Preparing for your first XBRL filing
- Integrating XBRL into the EDGAR process
- Leveraging Industry Resources
- A report card on the first filings
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