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The History of XBRL

The History of XBRL. Symposium on Information Systems Assurance Integrity, Privacy, Security & Trust in an IT Context October 20-22, 2005. Mike Willis, CPA Partner, PricewaterhouseCoopers, LLP Founding Chairman, XBRL International mike.willis@us.pwc.com. 3 keys to market adoption.

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The History of XBRL

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  1. The History of XBRL Symposium on Information Systems Assurance Integrity, Privacy, Security & Trust in an IT Context October 20-22, 2005 Mike Willis, CPA Partner, PricewaterhouseCoopers, LLP Founding Chairman, XBRL International mike.willis@us.pwc.com

  2. 3 keys to market adoption Historical Markers • Overview • Metrics • Jurisdictions • Members • Specification • Taxonomies • Tools • Looking Forward • What you should do next

  3. The early question…. What problem is it that you think I have that you are trying to solve?

  4. Typical business objective “Increase production and throughput by leveraging the large warehouse engine. Tightly integrate critical business functions and align business processes to enhance flexibility, increase efficiency and productivity.” Does this sound familiar?

  5. “Leveraging the warehouse engine”

  6. From proprietary to infrastructure • Rail Road • Telegraph • Electricity • Telephone • Shipping • Product • Networking • Internet • Information • RJ 11 • 40’ x 8.5’ x 8’ • UPC • HTML / SOAP / Web Services • 4’ 8.5” • RJ 45 • Rosettanet, MDDL, XBRL • Morse Code • 120V, 50Hz Candy? Match the infrastructure to the standard

  7. XXXXXX ### ### ### ### Time 2000 2001 2002 2003 2004 2005 2006 Anticipated Adoption Curve….. What do you think it looks like?

  8. Calendar of Major Events

  9. The First time……..

  10. Calendar of Major Events

  11. The Morgan Stanley Session

  12. Calendar of Major Events

  13. XBRL 2.1 XBRL Specification Timeline External Deadline on 2.1 XML Linking Boston Mtg. XML Schema Tampa Mtg. XBRL 2.0a Tulip XBRL 2.1 XFRML XBRL 1.0 XBRL 2.0 10/99 5/01 12/01 11/02 5/03 31/12 6/00 12/00 2000 2001 2002 2003 XML XML Link 1998

  14. Jurisdictions 20 15 10 5 Time 2000 2001 2002 2003 2004 2005 2006 XBRL International Jurisdiction Growth Provisional Jurisdictions October, 2005 Belgium Denmark France Korea Poland South Africa Sweden UAE March, 2004 Ireland Spain August, 2002 New Zealand October, 2001 Australia Canada Germany IASB Japan Netherlands UK US

  15. Members 400 300 200 100 Time 2000 2001 2002 2003 2004 2005 2006 XBRL Membership Growth 400 300 275 210 130 80 13

  16. Public Taxonomies Time 2000 2001 2002 2003 2004 2005 2006 XBRL Taxonomy Growth February, 2005 US GAAP C&I US GAAP Bank US GAAP Ins SEC Certification Mgmt Report Accountants Report MD&A This does not include any private taxonomies such as those prepared for statutory purposes. Nov, 2005 General Ledger June, 2004 IFRS GAAP NZ GAAP UK GAAP July, 2005 China Framework IFRS GAAP US GAAP Invest Mgt January, 2004 UK GAAP 2.0 Canada GAAP June, 2001 General Ledger

  17. Tools Time 2000 2001 2002 2003 2004 2005 2006 XBRL Tools Growth(Representative Listing) FDIC Vendors DBI Financial Systems, Inc.FinArchFRS Global Financial Reporting & AnalyticsIDOM, Inc.Information Technology, Inc.Fidelity Regulatory SolutionsJack Henry & Associates Inc. Semansys Integrator Semansys Analyzer Core Filings Microsoft Business Solutions Snappy Reports Carthesis FR Solutions J2R Batavia Data Driver Semansys Deployment Manager Metapraxis Adobe DecisionSoft True North High Ridge Technologies UBMatrix Automator Pro IBS Open Digital Reporting Ipedo EII Software AG Covarity Hyperion Fujitsu XWand Fujitsu Oracle XBI Software IBMatrix SAP UBMatrix Converter Rivet Software XBRL Solutions UBMatrix Tool Kit SavaNet DynAccSys Xabra Caseware Semansys Composer Hitachi CBRP Hitachi Ximba Allocation Solutions Navision Creative Solutions Hitachi XiRute Edgar-Online IMetrix Edgar-Online IMetrix

  18. Key XBRL Canada Milestones • January, 2001 – XBRL Canada (XBRL-CA) joins XBRL International as an established Jurisdiction • June, 2002 – XBRL-CA hosts the 5th XBRL International Conference in Toronto • January, 2004 - TSX Group Inc. (TSX Group) becomes the first Canadian public company, as well as the first publicly-listed stock exchange globally, to publish its annual financial results in XBRL. • November 2004 - XBRL-CA publishes a bilingual Canadian GAAP Taxonomy for Primary Financial Statements

  19. Tax Authorities NO CA UK DE NL IE JP CN AU NZ Pilot Committed

  20. Financial Banking Regulators EU CEBS SE UK DK BE DE FR NL Portugal LuX ES US CN JP KR SG AU ZA NZ Pilot Committed

  21. Exchanges & Equity Regulators OBX CSE LSE TSX Deutsche Börse KOSDAQ EuroNext Tokyo SEC Shanghai Lux Korea SWX Shenzen Taipei Singapore Sao Paulo Johannesburg ASX NZSE Live Eval Pilot

  22. X X X X The early question………….? Where do the analysts who cover your company obtain the data used to populate their valuation models on your company? • My company financial statements • My press releases • My Public Securities filings • My Investor Relations Team • A third party selling data tagged in a foreign country

  23. An Example Some Consequences (there are more)

  24. Utility Metcalfe’s Rule Time Market Adoptions Anticipated Adoption Curve….. What do you think it looks like? Public Expectations

  25. What you should do next • Get more involved! • Academics – research questions • Assess distortion within current supply chain • SOA compliance penetration • Collaborate on public reporting taxonomies • Practitioners • External Reporting Assessments • Internal Process Assessments • Collaborate on public reporting taxonomies

  26. XBRL Canada Next Steps • October 31 2005/November 1 2005 - XBRL-CA to hold 1st Canadian XBRL conference for Financial Services • November 1 - Public Day seminar www.xbrl.ca/e/events.html/ For Membership information: • XBRL Canada www.xbrl.ca • XBRL US www.xbrl.org/us

  27. The History of XBRL Symposium on Information Systems Assurance Integrity, Privacy, Security & Trust in an IT Context October 20-22, 2005 Mike Willis, CPA Partner, PricewaterhouseCoopers, LLP Founding Chairman, XBRL International mike.willis@us.pwc.com

  28. =IMetrix(Company,Taxonomy,"usfr-pte:Assets","A",LastFiscalYear)=IMetrix(Company,Taxonomy,"usfr-pte:Assets","A",LastFiscalYear) ‘Total Assets’ = IMetrix(Company,Taxonomy,"usfr-pte:Assets","A",LastFiscalYear)

  29. =IMetrix(Company,Taxonomy,"usfr-pte:TotalCurrentAssets","A",LastFiscalYear) / IMetrix(Company,Taxonomy,"usfr-pte:CurrentLiabilities","A",LastFiscalYear) ‘Current Ratio’ = IMetrix(Company,Taxonomy,"usfr-pte:TotalCurrentAssets","A",LastFiscalYear) / IMetrix(Company,Taxonomy,"usfr-pte:CurrentLiabilities","A",LastFiscalYear)

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