New XBRL Tools

A growing number of tools are becoming available for XBRL users. At the Rome conference recently several of them displayed their products, new and old (but updated), representing a range of functionality. A summary of them can be found on the conference website.

XBRL/IFRS in the Oil and Gas Industry

XBRL Canada recently held a seminar in Calgary dealing with broad issues facing the Oil and Gas industry in their IFRS convergence activities and likely adoption of XBRL. The two - IFRS convergence and XBRL adoption - are closely related as indicated by the speakers. The seminar was well attended by representatives from the industry and others.

The presentations from the seminar are now available for download at the XBRL Canada website.

SBR in Australia

The Australian Government has started a blog on SBR (Standard Business Reporting). SBR is a process of providing for business a standard method of reporting to government departments using XBRL as the standard. At present, in many countries, (including Canada) business must report to the different departments, such as Finance, Revenue and Statscan using different methods unique to each of those departments. This imposes a substantial burden on businesses who must support systems, technologies and processes for each of those different methods. SBR means they only have to support one method, and will lead to substantial savings for Australian business, who are about to launch a comprehensive SBR program..

The new SBR Blog of the Australian Government can be found at http://blog.sbr.gov.au/.