EXtensible Business Reporting Language Sevilla, 17 de Abril de 2008 Enrique Bonsón Ponte Vicepresidente de XBRL España Catedrático de Economía Financiera.

eXtensible Business Reporting eXtensible Business Reporting

LanguageLanguage

Sevilla, 17 de Abril de 2008

Enrique Bonsón PonteVicepresidente de XBRL EspañaCatedrático de Economía Financiera y Contabilidadde la Universidad de Huelva

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Agenda

Taxonomías XBRL

Conclusiones

XBRL

XML

Evolution of the Internet

TechnologyInn

ova

tio

n

FTP, E-Mail,Gopher

Web Pages

TCP/IP HTML

Connectivity

Presentation

Browse the Web

Connect pre-Web

Searching for the word “Mercury” on the Web can provide a wide variety of results—too many—such as:

Hg

Browsing the Web (Content—without Context)

•Chemical Industry •<SYMBOL>

•Auto Industry •<CAR-MODEL>

•Publishing or Mythology

•<GOD>

•Music Industry •<RECORD-LBL>

•Aerospace Industry •<PROGRAM>

•Astronomy •<PLANET>

“Content in Context” (Industry-specific)

Evolution of the Internet

TechnologyInn

ova

tio

n

FTP, E-Mail,Gopher

Web Pages

Web Services

TCP/IP HTML XML

Connectivity

Presentation

Automation

Browse the Web

Program the Web

Connect pre-Web

XML• XML stands for:• eXtensible • Markup • Language

• Universally accepted method of exchanging information

What Is XML?

• “XML is aplatform-independent,

self-describing,

expandable,

standard data exchange format”

XML <?xml version="1.0"?><ORDER> <SOLD-TO> <PERSON> <LASTNAME>Serra</LASTNAME> <FIRSTNAME>Roberto</FIRSTNAME> </PERSON> </SOLD-TO> <SOLD-ON>20040206</SOLD-ON> <ITEM> <PRICE>15.95</PRICE> <BOOK> <TITLE>El código da Vinci</TITLE> <AUTHOR>Brown, Dan</AUTHOR> </BOOK> </ITEM></ORDER>

ORDER

SOLD-TO

PERSON

FIRSTNAME

LASTNAME

SOLD-ON

ITEM

PRICE

TITLE

AUTHOR

BOOK

Roberto

Serra

Brown, Dan

El código da Vinci

15.95

20040206

Who defines the tags?

• Tags are defined by industry consortiums

Each industry’s standardtags are commonly referred to as a taxonomy

XML & Data Exchange

Improves the way companies -- and applications -- share information Enjoys strong industry and vendor support

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Agenda

Taxonomías XBRL

Conclusiones

XBRL

XML

XBRL: eXtensible Business Reporting Language Es un lenguaje de marcas basado en XML Creado por XBRL.org Para el intercambio automático de

información financiera entre aplicaciones de software en cualquier parte del mundo

Se trata de un esfuerzo global para construir “el lenguaje digital de los negocios”

A realizar por todos los participantes en la cadena de suministro de información financiera.

Http://www.xbrl.org

Nine Years Ago …October 14, 1999

XBRL began with the idea of a single individual - Charlie Hoffman, from a

small CPA firm in a small town …

… and 13 Sponsoring Companies

XBRL Adds Reporting to E-Commerce

BUSINESS

Investors

Aggregators

Regulators Creditors LendersTax Website

Transaction Creation

ERP G/L Packages CRM

•Orders•A/P•Delivery

Customers•Orders•A/R•Delivery

2-way2-way

Suppliers

Oneway

Oneway

XBRL

BUSINESS REPORTING

(e-)CommerceOTHER XML INITIATIVES

XBRL Planned Specifications

ExternalFinancialReporting

BusinessOperations

InternalFinancialReporting

Investmentand Lending

AnalysisProcessesProcesses

ParticipantsParticipants

AuditorsTradingPartners

Investors

FinancialPublishersand Data

Aggregators

Regulators

XBRL for G/LJournal Entry

ReportingXBRL for

Regulatory Filings

XBRL for Financial Statements

XBRL for AuditSchedules

XBRL forTax Filings

XBRL for BusinessEvent Reporting

Software Vendors

ManagementAccountants

Companies

XBRL: Multiples salidas - Una sola especificación

Registro yCNMV

Sitio Web

Agencia Tributaria

Banca

Informes impresos

Sistemacontable

Otras fuentes de

información

XBRL

XBRL: Multiples salidas - Una sola especificación

CNMV

Sitio Web

Agencia Tributaria

Banca

Registro

XBRL

Inversores

Otros

Regulatory Filings

Market Data

Assurance

Company Financials

Public

Financials

Company Financials

Competitor/Industry Financials

Financial Information Supply Chain Financial Information Supply Chain Today’s External PositionToday’s External Position

Analyst Analytical Models

RegulatoryFilings

Market Data

Assurance

Company Financials

Public

Financials

Company Financials

Competitor/Industry Financials

Financial Supply Chain

Financial Information Intermediary Supply Chain Financial Information Intermediary Supply Chain External PositionExternal Position

Analytical Models

XBRL documents can

be: – Prepared efficiently– Exchanged reliably– Published more easily– Analyzed quickly– Retrieved by investors

simply

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Agenda

Taxonomías XBRL

Conclusiones

XBRL

XML

XBRL Taxonomies Equivalent to a dictionary They content all the elements to be

used within a XBRL document Global taxonomies: AR y GCD International taxonomies: IASCF-IFRS

y CRAS National-industry extensions National taxonomies: USA-GAAP,

German GAAP, Australian GAAP Industry extensions

AR TAXONOMY Report Information int-ar:ReportInformation

Title of Accountants Report int-ar:TitleReport

Report Type int-ar:ReportType

Addressee int-ar:Addressee

Statements Covered int-ar:StatementsCovered

Balance Sheet Date int-ar:BalanceSheetDate

Income Statement Period int-ar:IncomeStatementPeriod

Statement of Comprehensive Income Period

int-ar:StatementComprehensiveIncomePeriod

Statement of Stockholder's Equity Period int-ar:StatementStockholdersEquityPeriod

Cash Flows Statement Period int-ar:CashFlowsStatementPeriod

Reporting Method int-ar:ReportingMethod

Report Date int-ar:ReportDate

Dual Date int-ar:DualDate

Date of Dual Date int-ar:DateDualDate

Dual Date Note int-ar:DualDateNote

Accounting Standards Applied int-ar:AccountingStandardsApplied

Report Body int-ar:ReportBody

Introductory Paragraph int-ar:IntroductoryParagraph

Scope Paragraph int-ar:ScopeParagraph

Opinion Paragraph int-ar:OpinionParagraph

Explanatory Paragraph int-ar:ExplanatoryParagraph

IASCF-IFRS TAXONOMY

• Based on the IAS-IFRS bound volume

• A digital version of IAS-IFRS• Primary Financial Statements• Explanatory Disclosures and

Accounting Policies

Taxonomía

CRAS

Taxonomía

DGI

Extensiónnacional

Extensiónsectorial

Extensiónnacionalsectorial

Extensiónpara unaempresa

DocumentoXBRL

InternationalFinancial Reporting

Standards(Taxonomía IFRS-GP)

Banco de España

C-EBS(Comité de Supervisores

Bancarios Europeos)

CNMV(Comisión Nacional del

Mercado de Valores)

ICAC(Instituto de Contabilidady Auditoría de Cuentas)

Registradores de España

Entidades financieras españolasInformación financiera.

Entidades financieras europeasInformación sobre Riesgos

según Basilea II

Sociedades emisoras.Información financiera

Empresas españolas que emiten

cuentas anuales según PGC 1990

Personas físicas y jurídicas a identificar

SIIF(Sistema de Intercambio

de Información Financiera)

COREP(Common Solvency Ratio

Reporting Framework)

IPP(Información Pública Periódica)

PGC-1990(Plan General de Contabilidad)

DGI(Datos Generales de Identificación)

OrganismoRegulador

TaxonomíaXBRL

Entidadsupervisada

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Agenda

Taxonomías XBRL

Conclusiones

XBRL

XML

In ConclusionIn Conclusion Adoption of XBRL will bring democratization of financial markets.

XBRL and other XML derivative languages are going to change information generation and distribution.

The information intermediation industry will have to change consequently bringing greater transparency to financial Information.