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XBRL US Progress Report

XBRL US Progress Report. FEI CFIT Committee Briefing Redmond, WA March 13. One year ago …. AICPA had just “spun off” XBRL US, Inc. SEC awarded $54 million to modernize EDGAR Commercial-strength taxonomies planned United Technologies case study presented at National SEC/PCAOB Conference

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XBRL US Progress Report

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  1. XBRL US Progress Report FEI CFIT Committee Briefing Redmond, WA March 13

  2. One year ago … • AICPA had just “spun off” XBRL US, Inc. • SEC awarded $54 million to modernize EDGAR • Commercial-strength taxonomies planned • United Technologies case study presented at National SEC/PCAOB Conference • March 9 – final contract awarded to XBRL US to develop and test US GAAP taxonomies

  3. XBRL US is… the national consortium for XML business reporting standards developers and owners of the XBRL US GAAP Taxonomies

  4. a new consortium From grassroots to professionally staffed • Core staff team of seven hired • US GAAP Taxonomy contract awarded • Domain Steering Committee established • 7 of 9 Founders Council members seated • Communications Steering Committee elected • 12 Member Board of Directors seated

  5. Board of Directors Al Berkeley, Chairman and CEO, Pipeline Trading Systems Barry Melancon, President and CEO, AICPA Jeff Diermeier, President and CEO, CFA Institute Taylor Hawes, Controller, Microsoft Randy Fletchall, Vice Chair – Ernst & Young LLP Sunir Kapoor, President and CEO, UBmatrix Robert Kueppers, Deputy CEO, Deloitte Phil Moyer, CEO and President, Edgar Online Mike Starr, COO, Grant Thornton International Sam Ranzilla, Partner-in-Charge, Professional Practice, KPMG Dave Sharpe, Partner, National Professional Services Grp, PwC Peter Wallison, Senior Fellow, American Enterprise Institute

  6. XBRL US Members Board of Directors Founder’s Council Stakeholder Organizations President & CEO VP Adoption VP Domain VP Services Adoption Steering Committee Domain Steering Committee Member ServicesSteering Committee Private Sector Working Group Private Sector Working Group Market Outreach Working Group Working Group GAAP Taxonomy Working Group TaxonomyArchitecture Working Group Working Group Working Group Working Group Working Group Working Group

  7. One year’s progress • Increased public awareness of XBRL standard • Developed XBRL US GAAP Taxonomies • Technical review and testing by SEC, FASB, and representatives of the accounting profession • Facilitated and evaluated new software tools • Developed Preparers Guide for filers • 120-day public review for taxonomies and Guide • Support and maintenance plan

  8. Product: XBRL US GAAP Taxonomies Base Taxonomies Supporting Taxonomies Industry Taxonomies Commercial and Industrial (us-gaap-master-ci) Document & Entity Information(dei) SEC Certification(sec-cert) All GAAP Concepts(us-gaap) Insurance (us-gaap-master-ins) Real Estate (us-gaap-master-re) Managements Report(mr) AccountantsReport(ar) Data Types(us-types) Banking and Savings (us-gaap-master-basi) Brokers and Dealers (us-gaap-master-bd) Managements Discussion & Analysis (mda) Extended Link Roles (us-gaap-roles) Master View of All Industries (us-gaap-master) Company Created Extension Taxonomy (if necessary) Instance Document

  9. Taxonomy Public Review Target Audiences: public companies, analysts, investors, software providers data aggregators, other intermediaries Offering: single web portal for “one stop shop” for reviewers easy access to taxonomies and tools educational materials and user guides use cases to facilitate self-service review Ends April 4, 2008

  10. Taxonomy and Preparers Guide Comments • Almost 3,000 comments received on taxonomies and Preparers Guide • Roughly a third are still “open” status • A surge in last two weeks of review is possible • All items to bee closed by April 18 • Final delivery of taxonomies to SEC April 28

  11. Preparers Guide v3 - Monday

  12. Shifting from development to production: support and maintenance • transparent, consistent change management • predictable versioning policy • taxonomies in sync with GAAP and SEC • solicitation and incorporation of user feedback • reflecting XBRL best practices as they evolve • education, training, and technical support • product manageremnt and customer service

  13. Support www.xbrl.us support@xbrl.us 1-800-810-6907 Technical Support Workshops Webinars Masters Classes Preparers Guide TechnicalGuide Other Publications Market Outreach UPDATES to training and publications content CHANGE REQUESTS from industry, analysts, public, standard setters & SEC FASB SEC Public Preparers Auditors Software Developers Aggregators Investors & Analysts ; Change Report Recommendations Impact statements xbrl.us Taxonomy Manager Maintenance Vice Pres, Domain xbrl.us namespace XBRL US GAAP Taxonomies Incremental updates via XBRL extensions, new version yearly Taxonomy Manager Comment & Change Request Documents (CCRD) Comment & Change Request Documents (CCRD) Comment & Change Request Documents (CCRD) Testing and approval Testing Manager xbrl.us US GAAP Taxonomy Working Group (advisory) CCRDs logged in public database

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