XBRL Awareness Seminar Presented by the members of XBRL-US 12 Sept 2005, San Francisco meeting hosted by Hitachi webcast

1. XBRL Awareness SeminarPresented by the members of XBRL-US12 Sept 2005, San Franciscomeeting hosted by Hitachiwebcast hosted by PR Newswire

2. Agenda • Welcome • Overview of XBRL; the need for standards (what) • Benefits of XBRL (why) • Overview of the SEC VFP; preparation case study • Technical overview (how) • Wrapup and Q&A

3. XBRL Overview

4. What’s the Problem? • Business reporting information producers, processors, and consumers all looking for increased efficiency • Increasing costs of manual processing • Increasing demands for additional processing (e.g. Sarbanes-Oxley requires SEC to do more checking) • Analysts need to track more firms, look at more information for each firm • Manual processing (i.e. rekeying) prone to errors • Reuse, repurposing of information expensive

5. Why Change Business Reporting? Data Preparer Pressures: • Users/consumers are demanding more complete, timely data • Data is more complex • Required to report more often, more quickly • Need to decrease costs Data User/Consumer Pressures: • Greater transparency and detail • Easier to process and make decisions • Act more quickly • Need to decrease costs 2

8. Consolidated Profit and Loss Account for the year ended December 31, 2004

9. Time to move into the 21st Century • The Star Trek test: how should it work?

10. Can Automation Help? • Yes, but automation requires • Intelligent financial data • An agreement on how to describe the information, i.e. a Standard

11. 1. Intelligent Data • Data that knows about itself; self-describing • HTML/PDF are electronic, but not intelligent • Simply an electronic version of a paper document; not much better than a fax • “The problem with WYSIWYG is that’s all you get” • PDF not any better than an OCR’d printed report; data still needs to be manually rekeyed and analyzed • Example: FDA is moving away from PDF and towards XML for pharmaceutical approval applications

12. You Can Probably Figure This Out • In the following example, what does “1211” represent? • Easy for humans because context defines the semantics of the content – but more difficult for machines XBRL International 1211 Avenue of the Americas 19th floor New York, NY 10036 www.xbrl.org

13. But What’s This? 37

14. HTML Doesn’t Help… <b>37</b>

15. …but XBRL Does <OperatingProfit decimals="6" unitRef="USD">37</OperatingProfit>

16. XBRL and XML • XBRL is an application of XML, a means of describing financial information using XML syntax • Intelligent data that can be • Reused • Repurposed • Exchanged/submitted • Machine processed

17. XBRL the Next Big Thing • Gartner lists XBRL as one of four “Next Generation Architectures” together with Service Oriented Architecture, Web Services Enabled Business Models, and Business Process Platforms “Next Generation Architecture will constitute the third big era in the IT industry’s history (the first having been the hardware era and the second belonging to software).” (23 Aug 2005)

18. 2. Need for Standards • For intelligent information exchange to work we need agreed-upon ways to describe the information • Examples of standards • Electrical plugs and sockets • Traffic laws • Fax machines • Railroad gauges

19. The Railroad Example

20. XBRL XBRL XBRL Business Reporting Supply Chain Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, and Regulation Processes Companies Financial Publishers and Data Aggregators Investors Participants Trading Partners Management Accountants Auditors Regulators Software Vendors

21. Two Things Named “XBRL” • XBRL is a technology used for financial reporting • XBRL is a consortium formed to promote the adoption of the technology

22. The XBRL Technology • “tag” or “element”: the wrapper for each data point • XBRL specification: defines XBRL taxonomies and instances • XBRL taxonomies: the set of elements (tags) used to define your data • XBRL instances: the file created using a taxonomy, which contains financial information that you create and deliver

23. The XBRL International Consortium • 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

24. The XBRL-US Jurisdiction • “The mission of XBRL-US is to make XBRL the de facto standard for all internal and external business reporting for U.S. organizations”

25. XBRL US Member Companies Adobe Systems AICPA AIG Allocation Solutions BDO Seidman Booz Allen Hamilton Bowne & Co. Business Objects Business Wire Capital Printing Systems Capricorn Research CCH Tax and Accounting Cognos Creative Solutions Deloitte & Touche Dynamic Access System EDGAR Filings EDGAR Online Ernst & Young FactSet Research Systems FDIC Financial Executives International Forum Systems Fujitsu GCom2 Solutions Grant Thornton Hitachi America Innodata Isogen Institute of Management Accountants Ipedo KPMG Merrill Microsoft Morgan Stanley PR Newswire PricewaterhouseCoopers PTC RIA Compliance/Thomson Rivet Software RR Donnelley R.S. Rosenbaum SAS Institute SavaNet SimpleX Data Technologies Standard Advantage UBMatrix Xaware

26. Importance of XBRL • Toshimi Takahashi, VP Information Division,Hitachi

27. XBRL Usage & Benefits • Personas and Their Relationships Loan Processing Institutional Investors SEC / Information Provider Financial Institutes Submission IR Investors Submission Bond Issue / Capital Issue Financial Information Subsidiaries Business Entity Off-Site Monitoring Audit Submission Accountants Tax Agency FDIC

28. XBRL Usage & Benefits • XBRL makes international economic activities transparent, efficient, and active. • Reduce cost of analyzing and reporting financial information • Increase speed and efficiency of business decisions • Enhance the distribution and access of existing financial statement information • More readily exchanged • Increase and enhance analysis

29. Benefits of XBRL • Liv Watson, Vice President XBRL Strategy, EDGAR Online

30. About EDGAR Online EDGAR Online, the trusted sourcefor business information, harnesses technology to provide financial data on global companies along with analytical tools. • Serving professionals in the financial, corporate, and advisory sectors. • Most advanced technology-enabled processesavailable for extracting data from public and private sources. • Immediate transformation of data into actionable information. Professionals in the new regulatory environment are demanding greater transparency of financial data; EDGAR Online is focused wholly on satisfying that demand.

31. Today’s Discussions • Benefits of XBRL to the business community. • Benefits of XBRL for improvement to financial reporting models. • Benefits of XBRL to Accounting Standard Setters. • Benefits of XBRL to the audit professional • Benefits of XBRL to corporate financial manager and analyst. • Growing global support for XBRL

32. Benefits of XBRL to the business community "The effect that XBRL will have on the business community will be more significant than the transition from paper and pencil analysis of financial information to the use of electronic spreadsheets,… … In the next three to five years, XBRL will move from the early adopter phase to become the generally accepted way to report business information. As a result, corporations will simplify the process for issuing business reports, and the public will find it easier to get the information they need to make informed investment decisions." Mike Willis, Partner. PricewaterhouseCoopers & Founding Chairman of XBRL International.

33. Standardization Presentation Cash & Cash Equivalents References GAAP I.2.(a) Instructions Ad Hoc disclosures Label Cash Equivalents And Short Term Investments Calculation Cash = Currency + Deposits FormulasCash ≥ 0 Contexts US $ FY2004 Budgeted Validation Benefit of XBRL “smart data” Presentation Comptant et Comptant Equivalents Presentation 現金及び現金等価物 XMLItem XBRL Item <200> XBRL Item The benefits of standardized data include: • More accurate data collection • Faster data availability • Easier aggregation, analysis and dissemination

34. Benefits of XBRL for improvement to financial reporting models “I encourage you to follow the discussion about the use of tagged data and to provide us with your thoughts. I believe that XBRL has the potential to bring about further improvement to our financial reporting model. Likewise, I am encouraged by the Enhanced Business Reporting Consortium's efforts to develop a voluntary, internationally recognized framework for presenting industry-specific key performance indicators and disclosure of non-financial information about opportunities, risks and management's strategies and plans. And I would like to acknowledge the important role that the AICPA has had and continues to have in this effort. This represents the type of discussion and action that should be occurring in the marketplace as we all seek to improve the value of information for investors” Remarks before the 2004 AICPA National Conference on Current SEC and PCAOB Developments Washington, D.C. December 6, 2004 Donald T. Nicolaisen Chief Accountant, Office of the Chief AccountantU.S. Securities and Exchange Commission

35. EDGAR Online’s Sample Form 8-K

36. SEC – XBRL Voluntary Filing Program http://pro.edgar-online.com/marketing/infoxbrl.asp

37. Benefits of XBRL to Accounting Standard Setters. International Accounting Standards Board (IASB) “We are determined to express ourselves more simply and by removing the differences between standards around the world making it simpler for users of accounts to compare companies from different jurisdictions. I believe that XBRL is doing the same for the way financial reporting information is transmitted. The XBRL International consortium is committed to developing in the public interest a set of high quality, understandable and workable electronic standards that simplify the exchange and interpretation of financial reports in different operations world-wide.” Sir David Tweedie Chairman, International Accounting Standards Board

38. A simple example… <ifrs- p:TradeAndOtherReceivablesNetCurrentcontextRef= "Current_AsOf" unitRef="U-Euros" decimals="0">490000</ifrs-p:TradeAndOtherReceivablesNetCurrent> <ifrs-gp:TradeAndOtherReceivablesNetCurrent contextRef="Prior_AsOf" unitRef="U-Euros" decimals="0">590000</ifrs-gp:TradeAndOtherReceivablesNetCurrent>

39. German IFRS-GP Label Linkbase http://xbrl.iasb.org/int/fr/ifrs/gp/2005-05-15/GermanTranslationPage.html

40. Italian IFRS-GP Label Linkbase http://xbrl.iasb.org/int/fr/ifrs/gp/2005-05-15/ItalianTranslationPage.html

41. Portuguese IFRS-GP Label Linkbase http://xbrl.iasb.org/int/fr/ifrs/gp/2005-05-15/PortugueseTranslationPage.html

42. Benefits of XBRL to the audit professional. • For the audit professional operating in the increasingly complicated Sarbanes-Oxley environment, XBRL can save significant time and client expense when performing key audit exercises such as fraud analysis and benchmarking. The transparency provided by XBRL can also help internal corporate auditors and audit committees ensure that their own company financials are without issue, thereby reducing their own exposure and personal liability when vouching for financial integrity. • Example: A benchmarking study is now part of most public audits and can take several weeks to complete depending on the complexity of the company or industry and the amount of information to be gathered. XBRL could reduce that time significantly by providing a single standard with which to compare companies across sectors and industries.

43. Why is XBRL important to the audit professional? “pieces of business information can be entered anywhere in a supply chain, flow into a company's general ledger, then be reported out in any form needed by the auditor or its trading partners” Eric Cohen XBRL Global Technical Leader Vice PricewaterhouseCoopers LLP The Founding Father of XBRL /GL

44. Benefits of XBRL to corporate financial manager and analyst. • For the corporate, XBRL saves time and money by reducing the amount of comparative analysis of both internal and external financial statements. With the XBRL standard, users can quickly and easily analyze key company metrics versus results from other divisions within the corporation, competitors or industry averages without the time-consuming processes now necessary to ensure peer-to-peer and industry analysis. • Example: Corporations do a significant amount of research on both internal and competitive financial analysis. A benchmarking template that might take two weeks to populate from various data sources could be updated immediately, using XBRL data from a single source.

45. Better informed financial and management decisions "XBRL helps companies, analysts, investors and other audiences to make better informed financial and management decisions and to leverage the capabilities of the Internet to facilitate the exchange of financial information… ………XBRL provides an efficient and reliable means of information exchange without changing existing accounting standards. And, because it is based upon standardized, underlying data tags, XBRL does not require a company to disclose any additional information beyond that which it normally discloses in its current financial statements." "We believe XBRL will have a positive impact on preparers of financial reports by streamlining the process and benefiting investors by improving their access to financial information." Barry Melancon President and CEO of AICPA

46. Capitalizing on XBRL through Enhanced Analysis The new I·Metrix family of products provides XBRL data and solutions today • I·Metrix solutions provide users with the most timely fundamental and supplementary data, analytical templates and toolsets at a substantially lower price point than our competitors. XBRL: It’s Unstoppable

47. XBRL and Excel

48. Immediate Verification

49. Challenges facing XBRL adoption XBRL is still in the process of developing and being adopted which means: • U.S. industry specific taxonomies such as Insurance and Oil & Gas are not complete • Existing taxonomies continue to change and evolve based on feedback from the field • Internal reporting software may not yet accommodate XBRL data or upgrades may be required • Maturity of the existing XBRL-enabled tools may be an issue • Staff training will be needed

50. In Conclusion “The movement toward world-wide convergence of accounting standards, public and private calls for more transparency, tighter regulation and oversight, and the emergence of new technologies has created a driving need for corporations to fundamentally change the way they prepare and distribute corporate performance data. XBRL can and will play a major role in helping a corporation go beyond simply keeping up with the changes.” Liv A. Watson Vice President of Global Strategy EDGAR Online, Inc.