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XBRL Instances & Taxonomies SLA-NY Business & Finance February 11, 2009

XBRL Instances & Taxonomies SLA-NY Business & Finance February 11, 2009. Clinton E. White, Jr (Skip) Professor of Accounting & MIS Lerner College of B&E University of Delaware (www.buec.udel.edu/whitec/NYFeb2009). Instances Using Rivet Dragon Tag. Open Excel With browser, go to:

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XBRL Instances & Taxonomies SLA-NY Business & Finance February 11, 2009

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  1. XBRL Instances & TaxonomiesSLA-NY Business & FinanceFebruary 11, 2009 Clinton E. White, Jr (Skip) Professor of Accounting & MIS Lerner College of B&E University of Delaware (www.buec.udel.edu/whitec/NYFeb2009)

  2. Instances UsingRivet Dragon Tag • Open Excel • With browser, go to: • www.buec.udel.edu/whitec/NYFeb2009 • Click • 3M Current Assets and Liabilities (xls)

  3. Before starting markup, save a copy to your flash drive: 3MCurrentAssetsAndLiabsStart.xls

  4. Rivet Dragon Tag Icons

  5. (3) Enter new entity Rivet Entity Profile (2) Create new entity (1) Entity profile icon (4) Locate taxonomy

  6. Complete entity profile: Green icon Info from taxonomy

  7. Rivet Starting Markup (1) Markup icon

  8. (2) Drag & Tag balance Rivet Drag & Tag (1) Open taxonomy & find appropriate element

  9. Marking Assets How would you markup Inventory, Raw Materials and Supplies?

  10. Inventory Disclosures Find the Disclosure – Inventory taxonomy Right-click & Select Copy

  11. Rivet Copy/Paste Right-click Inventory, Raw Materials Select Paste & fill in dialog box

  12. Rivet New Element How would you markup Short-term Borrowings & Current Portion of Long-term Debt?

  13. Rivet New Element Wizard Right-click Short-term Borrowings, Total Select Insert element after

  14. A Markedup Spreadsheet How would you markup Accrued Income Taxes Payable?

  15. Calendar Markup Select Calendar & Drag & drop on entire clolumns

  16. (2) Review markup details Reviewing Markup (1) Select item & click review icon

  17. Select validation icon Validation

  18. Select Export XBRL icon Exporting XBRL

  19. Rivet XBRL Preview

  20. XBRL Today • The US GAAP XBRL V1.0 taxonomy • Over 10,000 financial reporting concepts represented as elements • Physically: One very large set of files containing all US GAAP reporting concepts • Logically: A number of US GAAP industry taxonomies (a.k.a. “industry entry points”) reflecting common practice in a particular industry • And, a number of non-GAAP, special-purpose taxonomies for financial reporting

  21. Creating Financials • Rule 1: • Use elements from the XBRL US GAAP Taxonomy whenever possible • The reality: • All companies today need to create extension taxonomies for their SEC filings!

  22. Other Resources • XBRL US GAAP Taxonomies (xbrl.us/Pages/US-GAAP.aspx): • Preparer’s Guide • Case studies • Sample XBRL instance documents • Others: • www.sec.gov … www.xbrl.org … AICPA …

  23. Resources • Textbooks: www.skipwhite.com • The Accountant’s Guide to XBRL • The Guide & Workbook for Understanding XBRL • www.rivetsoftware.com • Dragon Tag and Genesis • www.ubmatrix.com • Processing engine and ERP suite • www.fujitsu.com • InterstageXwand • www.windowslive.com • FR Live • www.tryxbrl.com • www.sec.gov

  24. The future is already here – its just unevenly distributed! William Gibson Thanks for your attention! Skip

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