Thursday, October 21, 2010

FOR IMMEDIATE RELEASE

XBRL INTERNATIONAL LAUNCHES ABSTRACT MODELING GROUP TO CREATE BLUEPRINT FOR XBRL SOFTWARE DEVELOPMENT
MODEL LAYS SOLID FOUNDATION FOR SOFTWARE ARCHITECTS, ENGINEERS AND DEVELOPERS


Will Use UML Standard of Object Management Group (OMG)


BEIJING, CHINA, OCTOBER 20, 2010 – XBRL International, Inc. (XII) announced today at its XBRL21 global conference in Beijing that it has launched an abstract modeling group as a strategic initiative to catalyze development of more XBRL-enabled software solutions. 
“The XBRL community recognizes that in order to encourage greater development of software tools that will meet the needs of XBRL data users, we must begin with an abstract model to lay the foundation for software architects and their development teams to create XBRL applications,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc.  “In so doing, we remove some of the obstacles to development of XBRL software tools, provide a blueprint for creating XBRL applications, and attract more independent software vendors to the community. More tools also mean more choice for the marketplace – something for which users of XBRL tagged data have been asking.”
Participants in the abstract modeling group span a wide cross-section of the software vendor community, including the largest global ERP vendors, as well as specialty solution providers, accounting firms and regulatory bodies. The group will use the Object Management Group’s (OMG) Unified Modeling Language™ (UML®) standard to create the XBRL abstract model.  UML is a standard language for the analysis and design of software applications, specifying the structure and behavior of systems.
“OMG modeling technologies are pervasive around the world, and using them to support abstract XBRL specifications will help to expand the uptake of XBRL,” said Richard Solely, Chairman and CEO of Object Management Group, Inc. 
Without a standard XBRL abstract model, software architects, engineers and developers must create their own proprietary models – a costly process that is prone to interoperability issues because other vendors may not formulate models that are in complete agreement.  A standard abstract model leads to a more unified understanding of the XBRL technical specification, and can potentially lower development costs and remove barriers to entry.
“An abstract model provides the proper foundation for some of our other strategic initiatives designed to simplify the development process for software vendors, including the standardization of Application Programming Interface signatures,” added Fragnito.  “As newer technologies emerge and are evaluated for their ability to add value to the XBRL standard, the abstract model can also play a key role to help developers both understand the impact of new technologies on XBRL as well as the impact of XBRL on the design and evolution of that new technology.”
Participants in the XII abstract modeling group will be announced shortly.  Companies and individuals who are interested in participating can register their interest by completing the XII survey at http://www.surveymonkey.com/s/2010Initiatives.
The abstract modeling group is one of six strategic initiatives identified in the recently published XBRL International Standards Board (XSB) document, “Preserve. Promote. Participate. Moving XBRL Forward.”  For more about these initiatives, please visit http://www.xbrl.org/2010Initiatives/XBRL2010Initiatives.pdf.

About XBRL International, Inc.
XBRL International is the global not-for-profit electronic business reporting consortium. It is comprised of more than 650 public and private sector organizations from more than 30 countries that collaborate to improve decision making across business and government by enhancing the way that performance information is defined, prepared, exchanged and analyzed. Specifically, XII is responsible for the ongoing development and maintenance of the Extensible Business Reporting Language and the promotion and support of its adoption.
Interested companies and agencies are encouraged to join the XBRL International consortium and participate in building the future of electronic business reporting. To learn more about these opportunities visit http://www.xbrl.org/abouttheorganisation.


Friday, October 15, 2010

Two New Best Practices Board Publications

The Best Practices Board of XBRL International has published two white papers of interest to the XBRL community and those considering XBRL for their projects. The two papers are "Financial Supervision Reporting and XBRL" and "XBRL or Customized XML?"

The white papers are very much worth a read.

Monday, October 04, 2010

Final opportunity to register for XBRL Canada Workshops & Convention
This is your last opportunity in 2010 for a workshop about the pending impact of XBRL & IFRS on your company
TORONTO, Oct 4 /CNW/ - The fourth annual convention of XBRL Canada has multiple workshop sessions that allow you to pick and choose the topics of most interest to you. The sessions and conference are being held at the Toronto Convention Centre October 6th and 7th. We are continuing to receive registrations, but registering today is advised. More information is available on the XBRL Canada website.
This is an excellent opportunity for concerned professionals working in Finance and Investor Relations to learn more about how XBRL and IFRS will play an important role for business reporting in Canada
Several XBRL experts and solution providers will be on hand to address your concerns and questions individually as well.
There are four major parts of the workshops & sessions:
Oct 6 - Morning Sessions
The morning sessions will feature speakers from the IASB, SEC and some companies who have filed XBRL data with the SEC. The focus will be on practical issues.
Oct 6 - 1PM - 4PM - IFRS Taxonomy Workshop - led by Eric Cohen, CPA
The workshop will provide hands-on experience with using the IFRS XBRL taxonomy 
Oct 7 - 8:30AM - 10:00PM Understanding XBRL
This seminar will provide a thorough introduction to the basics of XBRL - what it is, how it works, how it is used, etc.
Oct 7 - 10:30AM - 4:30PM Quality and Assurance Workshop - Led by Efrim Boritz, PhD, FCA
This research oriented workshop will explore the risks involved in XBRL tagging and how those risks might be addressed.  Please view the Call for Participation for this session.
Attendees can register for one or multiple sessions, with further details available at www.xbrl.ca.
XBRL Canada is supported and administered by the Canadian Institute of Chartered Accountants.
For further information:
XBRL Canada, Gerald Trites, Project Director, (416) 602-3931, Email: gtrites@xbrl.ca

Organizational changes at XII


Following is a message from Dan Roberts about the proposed changes at XBRL International, which includes a direct membership option along with a number of related changes. The changes could have a significant impact on jurisdictions, including Canada, and the views of members and others are sought and welcomed.


A major change is being proposed to the membership structures and privileges of XBRL International. When I expressed my understanding of the proposed changes recently at an XBRL EU meeting, the chairman of a jurisdiction said "Now Dan, that's not what is being proposed". At that point, Tony Fragnito, CEO of XBRL International Inc said, "Well, actually, that is what is being proposed". Tony's honest and open reaction speaks to his credit, and his determination to ensure that both sides of all arguments were heard was evident.

The proposed change however, can, in my opinion, only harm the cause of global adoption of XBRL as the standard for business communication.

Usually I invite you to read and comment. For this issue, I strongly recommend you read, then talk directly with your jurisdiction prepresentatives to ensure that they know how you feel about this.

The full post is here: http://raasconsulting.blogspot.com/2010/09/proposed-xii-changes-could-limit-your.html