Podcast: Diane Mueller talks about financial data, XBRL and the Semantic Web with Paul Miller, Nodalities

November 3rd, 2009 by Diane Mueller

We discuss the evolution of the eXtensible Business Reporting Language (XBRL), consider some of the use cases for it, and look at its’ relevance to the Semantic Web community.

Towards the end of the conversation we refer to a recent workshop organised by XBRL International and the World Wide Web Consortium (W3C).

Improving Access to Government Data on the Web

September 11th, 2009 by Diane Mueller

On September 4th, the President took another important step toward a more open and transparent government by announcing a new policy to voluntarily disclose White House visitor access records. Aside from a small group of appointments that cannot be disclosed because of their necessarily confidential nature, the record of every visitor who comes to the White House for an appointment, a tour or to conduct business will be released. As historic as the President’s announcement is, it is also a good illustration of what is missing from the administration’s technology infrastructure plan — a coordinated approach to providing data standards.

On the surface, this new disclosure of visitor data looks perfectly fine. The data made available in a simple Comma Separated Values (.csv) file is easily downloaded and opened into a spreadsheet for viewing purposes.

Take a step beyond simple viewing, and try to mash up this content to see where the visitor’s list collides with other interest groups and data sources — you begin to get an idea of the complex nature of data mapping. For example, think of mashing up this visitor information with the U.S. SEC filings that include the names and remuneration of executives of publicly traded companies tagged in XBRL.

Better yet, simply try to blog about someone’s visit to the White House and reference a snippet from the .csv content. Then go to Twitter and post a tweet with a link to your blog so you can have bragging rights about being the first to notice some VIP’s visit. If I then repost the information on my blog and one of my readers wants to get back to the source file to verify the facts without some form of metadata and URI associated with the content, there is no path back to the original source. Therefore, there is no validation that the information is accurate. When I repost your information on my blog, I am simply trusting your cutting and pasting skills and trusting that you accurately interpreted the information. This can be a potentially dangerous situation that often leads to a lot of misinformed “noise.”

So far, in the marriage of social networks and open government, there has been a lot of “noise” coming in, but there has been very little done in the way of creating constructive solutions for accurate and trusted citizen participation.

Without the metadata about the newly disclosed visitor content or any other government information, the accuracy with which data is interpreted is jeopardized with each reuse. Without a link back to the source, the authenticity of the content is no longer discoverable. Without this information, it’s all just more “noise” on the web.

Where Does XML Fit in?

XML industry standards bring metadata to the content. Even a simple XML schema and an instance document would have gone a long way to ensure that, regardless of what tool consumed the visitor data (including spreadsheets), the information would always be interpreted in the same manner. Furthermore, the use of an XML industry standard for identity would enable one to leverage existing tools to mash up the content with other data sources. The key benefit of XML is that consuming applications no longer requires someone to reinvent clever ways of mapping and representing complex data, so developers can expend their energies on solving higher level problems that have a greater return.

There are plenty of other examples across federal, state and municipal government agencies that build the case for leveraging XML industry standards to aid in creating greater transparency and to create efficiencies for the agencies themselves.

Where Do We Go from Here?

Recovery.gov and multiple other individual government agency projects have taken strides forward to granting the public access to government data. However, cross-agency conversations are still taking place to get some agreement on common data models for comparing and mashing up information from multiple data sources accurately.

Efforts such as the NIEM XBRL harmonization discussions should be applauded as this combined effort should aid in the accurate mapping of government financial data across agencies. There is still a long way to go before we can start to leverage the really interesting technologies like Resource Description Framework (RDF) and the Semantic Web.

While everyone wants to jump on the Web 2.0 bandwagon, designing the technology infrastructure to ensure that it is done in an open, transparent and accurate manner requires a lot of cross-agency collaboration. The administration’s goal should be to ensure that the public can collaborate on the analysis and dissemination of public information across the web in a manner that can be trusted, authenticated and redistributed without imposing a cost burden on the consumers or the producers of that information. That is no small task.

This all leaves me wondering if I am guessing correctly about what was being talked about in the White House on 7/14/2009 at 3:00:00PM and about who was in the room. If my assumptions are right — loosely based on about 22,200 Google hits for Stephen J. Hemsley, who was listed as visiting Aneesh Chopra, for whom there are about 1,170,000 Google hits — I’m guessing a lot of these same data topics were addressed with a slight healthcare twist. But then again, I’m doing the interpretations here and making the free associations, so you’ll just have to trust me.

To add your input to the conversation about improving data access on the web, join us at the Workshop on Improving Access to Financial Data on the Web on October 5-6, 2009, in Arlington, VA, that is co-organized by W3C and XBRL International, Inc. and hosted by the FDIC.

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About the Author

Diane Mueller has been actively involved in the development efforts of the XBRL standard for the past decade. She is the Canadian representative to the XBRL International Steering Committee, serves as vice chair of that body, and chairs the XBRL Working Groups on Rendering and Software Interoperability. She currently serves as vice president of XBRL development at JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies. Learn more about JustSystems at http://na.justsystems.com/XBRL.  You may also follow her on Twitter at @XBRLspy.

About JustSystems and XBRL

Along with the SEC, the International Accounting Standards Committee (IASC) Foundation, XBRL International, and many other organizations worldwide, JustSystems has been aggressively supporting the development of the XBRL standard and integrating the interactive data format into its xfy platform. JustSystems’ software solutions work with XBRL to enable a richer way of working with and utilizing information, leveraging our technology around information search and retrieval, semantics, document management, and data integration. To learn more about our products for accelerating the creation, quality and consistency of the financial content that your organization produces and consumes today, please visit http://na.justsystems.com/xfyXBRLReport.

JustSystems Highlights XBRL Rendering Best Practices at XBRL Technology Workshop & Summit

July 22nd, 2009 by Diane Mueller

Panel to Discuss How Financial Content Providers Can Render XBRL to Suit Needs of Key Information Stakeholders

VANCOUVER and NEW YORK — July 22, 2009 — The way financial information is managed and displayed today can be time-consuming and frustrating, but a new era of clarity, accuracy, consistency and efficiency is on the horizon with the emergence of XBRL (eXtensible Business Reporting Language). XBRL provides a financial document with the structure and flexibility to share data for submission, dissemination and consumption. This ensures that all of the XBRL content viewed and consumed throughout the filing and submission lifecycle is accurate and consistent.

JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies, today announced that the company will lead a panel discussion at the XBRL Technology Workshop & Summit being held by XBRL US, Inc. in Santa Clara, CA from July 28-30, 2009. The panel will highlight how financial content providers can leverage XBRL rendering best practices to improve the presentation and sharing of financial content for key stakeholders.

What: “Best Practices and Current Approaches for Rendering XBRL” panel discussion

Who: Masatomo Goto, senior researcher, Fujitsu; Darrell Heaps, president and CEO, Q4 Web Systems, Inc.; Ted Stavropoulos, director of business development, Rivet Software; and Diane Mueller, chair of the XBRL Technical Working Group on Rendering and vice president, XBRL development for JustSystems

When: Thursday, July 30, 2009 at 11:00 a.m.

Where: Hitachi Data Systems Corporation, Santa Clara, CA

To register for the XBRL Technology Workshop & Summit, please visit http://bit.ly/XBRL-US.

Additional Resources:

XBRL International, Inc.; http://www.xbrl.org

XBRL US, Inc.; http://xbrl.us/

JustSystems XBRL Knowledge Center; http://na.justsystems.com/xbrl

xfy XBRL Report product overview; http://na.justsystems.com/xfyXBRLReport; purchase at http://na.justsystems.com/store.php

JUST XBRL blog; http://na.justsystems.com/xbrl_blog

Diane Mueller on Twitter; @XBRLspy

About JustSystems

JustSystems is a leading global software provider with three decades of successful innovation in office productivity, information management, and consumer and enterprise software. With over 2,500 customers worldwide, the company is continuing a global expansion strategy based on its xfy enterprise software, XMetaL content lifecycle solutions, and its pioneering work in enabling XBRL financial reporting technologies. Major strategic partnerships include IBM, Oracle and EMC. For more information, please visit http://www.justsystems.com.

Diane Mueller to speak on Rendering at XBRL US Technology Workshop on XML and XBRL Development Issues, July 28-30, Santa Clara, CA

July 13th, 2009 by Diane Mueller

In-depth case studies and practical hands-on sessions will be featured

WASHINGTON,DC , June July 13 – XBRL US, the nonprofit consortium for XML business reporting, will host its first annual Pacific Rim Technology Workshop at Hitachi Data Systems Headquarters in Santa Clara, California on July 28-30, 2009. The objective of the 2 ½ day workshop is to bring together XML and XBRL developers, and product managers to share ideas and discuss possible solutions to issues in development. Participants in the workshop will attend hands-on sessions and open discussion groups covering topics such as maintenance, development, and change management, among others.

“XBRL has the potential to transform the world of business reporting, and we are dedicated to continuing to drive the standard forward,” said Diane Mueller, BOD member of XBRL International, Inc. and vice president, XBRL development for JustSystems. “XBRL improves transparency and accuracy of financial information – letting key stakeholders make better business decisions. Also, with the SEC’s mandate for XBRL now in place, getting together under one roof will give attendees access to the information and tools they need to move forward with XBRL adoption.”

Diane will chair the panel on Day 2 of the conference on Best Practices and Current Approaches for Rendering XBRL which will include presentations from Rivet Software, Fujitsu America, Q4 Websystems, and JustSystems.

Also to be covered at the conference:

  • Participatory panel discussions on rendering, versioning, data quality and validation, tagging approaches, business analytics
  • Practical, hands-on taxonomy maintenance workshop covering the change management process as told through case studies from around the world
  • Updates on activities in XML and XBRL development worldwide

Additional speakers will include:

  • Michael Travis, Chief Operating Officer and Board of Directors, Hitachi Information & Telecommunication Systems Global Holding Company
  • Steve Wright, Director of Innovation, Salesforce.com on Impact Investing
  • XBRL and XML experts from CoreFiling, Ernst & Young, Fujitsu, Informatica, JustSystems, Morningstar, Oracle Corporation, Q4 Web Systems, Rivet Software, UBmatrix, XBRL US and others

When: July 28-30, 2009, workshop starts at 2pm on the first day; full days July 29 and 30

Where: Hitachi Data Systems Headquarters, Santa Clara, CA

Who should attend:Product managers, XML and XBRL developers

Complimentary media passes are available for the press. To get a complimentary pass, email Lynne.hasluck@xbrl.us.

The conference will be held at Hitachi headquarters in Santa Clara, California. To learn more and to register for the event, go to http://xbrl.us/techworkshop.

About XBRL

XBRL (Extensible Business Reporting Language) is a royalty-free, open specification for software that uses XML data tags to describe business and financial information for public and private companies and other organizations. XBRL benefits all members of the information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze business and financial statements and the information they contain.

About XBRL US

XBRL US is the non-profit consortium for XML business reporting standards in the United States and is a jurisdiction of XBRL International. It represents the business information supply chain, including accounting firms, software companies, financial databases, financial printers and government agencies. Its mission is to support the implementation of XML business reporting standards through the development of taxonomies relevant for use by US public and private sectors, working with a goal of interoperability between sectors, and by promoting adoption of these taxonomies through the collaboration of all business reporting supply chain participants. XBRL US has developed taxonomies to support U.S. GAAP and common reporting practices, the Risk Return Summary in mutual fund prospectuses and the Schedule of Investments under contract with the Securities and Exchange Commission. The XBRL US GAAP Taxonomies are available for review at http://xbrl.us/taxonomies/Pages/US-GAAP2009.aspx.

Link: www.xbrl.us

CONTACT: Michelle Savage, Vice President, Communication, XBRL US, Inc., michelle.savage@xbrl.us, +1-917-747-1714

Making the Case for Inline XBRL

July 10th, 2009 by Diane Mueller

By Diane Mueller, Chair, XBRL International Technical Working Group on Rendering

Web 2.0 technologies like XML, web services and social networking have taken off like wildfire and have caught many accounting professionals off-guard. The accounting profession only recently put down their pens and made the move from paper to spreadsheets and electronic forms for processing and visualizing financial data.

Accountants and regulators alike require a visual representation of the financial reports before approving their release or attesting to the authenticity of a financial document. There is an almost gut-level need harkening back to the days of the abacus and stone tablets to an almost instinctual need to touch and see the numbers in order to believe and trust in their authenticity.

Both preparers and consumers of business reports work with human readable documents containing a very broad range of formatting decisions. Some of these formatting decisions such as presentation order of the information or accessibility even have legal ramifications. There is still a clear need to be able to refer to the “hard copy” even where the “hard copy” refers to an on-screen document.

Professionals responsible for the production and dissemination of business reports are generally concerned that the information they release is carefully formatted. Accounting documents (particularly financial disclosures) attract special attention from preparers, auditors and securities regulators. The manner in which the reports are formatted from ensuring that figures are correctly aligned, to making sure sub-totals and totals are suitably emphasized all the way through, to considering the font-size of footnotes is important. Individual preparers have different preferences and these, too, need to be taken into account.

On the other hand, computers and consuming applications of financial data prepared by accountants care very little about the visual representation of the incoming content. Computers are only concerned with number-crunching, comparability, searchablity and further processing of the data. Most consuming applications have alternative visualizations of financial data in mind rather than the staid financial statements prepared lovingly by the accountants. Dashboards, charts and graphs, and 3-D representations of complex models fed by streams of financial data from multiple sources are the charge of consuming applications with distribution to multiple channels mobile devices, browsers, desktops and just about anything with a display screen that hosts a picture rather than a financial report. Read the rest of this entry »

JustSystems to Address Connection between XBRL and Semantic Web

June 10th, 2009 by admin

Speaking Session at 2009 Semantic Technology Conference to Highlight How XBRL Brings Precise Semantics to Financial Data
NEW YORK and VANCOUVER — June 10, 2009 — Recent accounting scandals have heightened the need for transparency in reporting of financial data. Companies are now required to submit regular reports and disclosures conforming to accepted accounting principles like International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP). Financial regulators around the world have also mandated that these reports be tagged using the eXtensible Business Reporting Language (XBRL). As large repositories of XBRL data are now being collected, the quality of data submission is on the rise.

JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies, today announced that Diane Mueller, vice president, XBRL development for JustSystems, and vice chair of XBRL International, Inc.; and Dave Raggett, JustSystems-sponsored W3C Fellow and member of the XBRL International Standards Board (XSB), will be speaking about XBRL at the 2009 Semantic Technology Conference being held June 14-18 at the Fairmont Hotel in San Jose, CA. The session titled, “XBRL, RDF and the Semantic Web,” will take place on Tuesday, June 16, 2009, at 4:30 p.m.

During the session, the presenters will address how XBRL brings precise semantics to financial data via reference to external accounting principles. By combining XBRL and the semantic web, there is tremendous potential for analyzing and exploring vast amounts of financial information on companies and markets worldwide.

Attendees will also learn about:

  • Ramifications for both XBRL and the semantic web
  • Standards development in relation to the semantic web that will complement the work of XBRL International
  • Semantic case studies for financial data
  • Current work to date on generating Resource Description Framework (RDF) from XBRL repositories

For more information on the 2009 Semantic Technology Conference, visit http://www.semantic-conference.com/. For more information on JustSystems, visit http://www.justsystems.com/ and the JustSystems XBRL Knowledge Center at http://na.justsystems.com/xbrl. For additional perspectives, visit and subscribe to the JustSystems RSS blog feed at http://na.justsystems.com/xbrl_blog, and follow Diane Mueller on Twitter at @XBRLspy.

Recent News and Resources

News releases

Commentaries

Blog: http://na.justsystems.com/xbrl_blog

About JustSystems

JustSystems is a leading global software provider with three decades of successful innovation in office productivity, information management, and consumer and enterprise software. With over 2,500 customers worldwide, the company is continuing a global expansion strategy based on its xfy enterprise software, XMetaL content lifecycle solutions, and its pioneering work in enabling XBRL financial reporting technologies. JustSystems is one of the 2008 KMWorld 100 Companies that Matter in Knowledge Management, a 2008 EContent 100 member, and was recognized on the 2008 KMWorld Trend-Setting Product list for XMetaL. Major strategic partnerships include IBM, Oracle and EMC. For more information, please visit http://www.justsystems.com.

All brand names and product names are trademarks or registered trademarks of their respective companies.

Is your Investor Relations Web Site Ready for XBRL?

June 8th, 2009 by Diane Mueller

Diane Mueller

The U.S. SEC recently issued new rules requiring companies to provide financial statement information on their corporate web sites in an interactive data format using the eXtensible Business Reporting Language (XBRL). This is good news because XBRL has the potential to increase the speed, accuracy and usability of financial disclosures for investors while also ultimately reducing corporate costs.

Companies are now required to provide their financial statements on their corporate web sites in interactive data format using XBRL no later than the calendar day that they submit their financial statements to the SEC (1). In this format, financial statement information can be viewed interactively from your investor relations web sites, downloaded directly into spreadsheets, analyzed in a variety of ways using commercial off-the-shelf software and used within investment models in other software formats.

The U.S. SEC rules will apply to public companies and foreign private issuers that prepare their financial statements in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and foreign private issuers that prepare their financial statements using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

This interactive data format must be provided as an exhibit to all periodic and current reports and registration statements, as well as to transition reports for a change in fiscal year. The new rules are intended not only to make financial information easier for investors to analyze, but also to assist in automating regulatory filings and business information processing. Read the rest of this entry »

Rebuilding Public Trust: The Case for Compliant Financial Data

May 8th, 2009 by Diane Mueller

By Diane Mueller

In the aftermath of banking failures, subprime mortgages, and bailouts across multiple industry sectors, it is a good time to examine the strategies it will take to rebuild public trust in our government and in the world’s financial markets. I believe the answer depends both on what we can do and how we do it.

With all the financial information that corporations were obligated to report because of existing government regulations, how could we not have foreseen this financial disaster? Did we misread the data? Was the information in the reports incorrect? Is there more that should have been required to report?  What was missing were regulations that properly addressed how the information was to be reported. Being specific on the “how” may very well have provided the warnings of the impending disaster rather than finding out how bad it was in the midst of it.

The key to solving the problem is figuring out the best way to publish our data.

A major step towards solving the problem of how to report financial information has been addressed in the latest set of regulations from the U.S. SEC. The regulations now require a growing number of companies to provide financial statement information in eXtensible Business Reporting Language (XBRL). Once all companies that are required to report use this format, analysts will be able to provide more accurate and timely warnings. Rather than using the past rules of demanding information — whether locked inside spreadsheets, forms, PDFs, the web, and other proprietary formats — specifying XBRL makes the data more usable and more easily gathered and analyzed.

If we can’t find the data, if we can’t figure out the problems that may be buried in the mountains of information, and if we haven’t any means to explore the data, we are no better prepared for the next financial crisis.

Creating Compliant Data

To complete the true financial picture of our economy, we need to complete the move to XBRL to ensure that all financial reporting is available as XBRL-tagged content. The government also needs to use XBRL reporting as part of creating a complete picture of the economy. As the bailout legislation, Recovery Act and other massive appropriations that include requirements for public disclosure continue, XBRL reporting could provide an excellent method of measuring the effects to the economy in real-time. Usually economic indicators lag behind because time is needed for surveys and reports to be collected and processed.

The initial impact of new regulations layered on top of existing regulations like Sarbanes-Oxley will be that corporations will be obligated to publish even more data, more frequently. The Obama administration’s effort to push more government data out via Recovery.gov is a good example of the movement to encourage more disclosure. If that information was in XBRL, we could more easily use the data. As the government rolls out its mandate for corporations to submit their financials using XBRL to the U.S. SEC for closer scrutiny and better compliance, they could also take a page from their own book and make all government financial reporting available to the public in XBRL, facilitating a more open national dialogue on our government’s financial health.

As Obama said in his Memorandum on Transparency, “Government should be transparent. Transparency promotes accountability and provides information for citizens about what their Government is doing. Information maintained by the Federal Government is a national asset.” This information needs to be compiled in a harmonized, compliant fashion across agencies to facilitate its preservation, dissemination, and exploitation and to maximize the research that is derived from it.

Connecting the Data

Like pages on the web, we intuitively know that the public data being posted to sites like SEC.gov and Recovery.gov is interconnected with other sources of data. But discovering the connections when all the data is in disparate formats is next to impossible for most — even  the expert research analysts at times. The government has already started to require XBRL with positive results in terms of access to data, so there should be no reason not to settle on XBRL for all financial reporting by companies and government entities alike. Beyond any specific qualities of XBRL, just by using the same format, reporting and analyzing the reports is faster and more likely to be accurate.

Further transformations like those proposed at recovery.gov (such as a service to transform the data to RDF-tagged semantic data) can allow the financial data in XBRL to be combined with data from other industry and government sectors — transforming the way we explore information.

In addition, the data about the data needs to be discoverable. Just having information in a usable format does little without it being easily accessible. Any kind of data object or concept should be found at a specific Uniform Resource Locator (URL) so that people can look up specific names, get useful information, and discover more.

As Tim Berners-Lee, director of the World Wide Web Consortium, put it, “It is about making links, so that a person or a machine can explore the web of data. With linked data, when you have some of it, you can find other related data.

Another consideration is trusting the provenance of the data itself — maintaining the connection to the source of the data whether it’s a filing on the SEC website or a recovery.gov document listing all the grant recipients for bailout funds. If the link (or URL) to the primary data source is lost, the connection and the provenance of the data is no longer assumable and any derived research loses its authenticity. When posting financial information for public consumption, entities enter into an unspoken agreement to maintain those links with the consumers. As more and more data is available online, the long-term stability of government sites and the continued maintenance of links must be guaranteed. The links are the mechanisms that will enable us to trace back to the sources and link us to the authoritative literature; whether that content is a Financial Accounting Standards Board (FASB) ruling, a Senate Bill allocating billions of bailout dollars, or the financial data related to an entity’s compliance with these rules and regulations.

If governments and corporations publish financial information using harmonized data standards and ensure that relevant links are maintained and accessible, this will go a long way to improve finding the location of relevant data.  Public scrutiny will diminish, and we will again trust the financial markets and the agencies that regulate them.

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Diane Mueller has been actively involved in the development efforts of the XBRL standard for the past nine years. She is the Canadian representative to the XBRL International Steering Committee, serves as Vice Chair of that body, and chairs the XBRL Working Groups on Rendering and Software Interoperability. She currently serves as vice president of XBRL development at JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies. Learn more about JustSystems at http://www.justsystems.com, and contact Diane at diane[@]justsystems.com.

About JustSystems and XBRL

Along with the SEC, the International Accounting Standards Committee (IASC) Foundation, XBRL International, and many other organizations worldwide, JustSystems has been aggressively supporting the development of the XBRL standard and integrating the interactive data format into its xfy platform. JustSystems’ software solutions work with XBRL to enable a richer way of working with and utilizing information, leveraging our technology around information search and retrieval, semantics, document management, and data integration. To learn more about how to accelerate the creation, quality, and consistency of the financial content that your organization produces and consumes today or to participate in the JustSystems beta program, please visit http://na.justsystems.com/xbrl_blog/.

Please feel free to publish the above commentary in full or in part with attribution according to the Creative Commons license.

JustSystems Launches Beta Program for xfy XBRL Report

May 6th, 2009 by Diane Mueller

Government, Corporate Users Invited to Test Unique Desktop Solution for Viewing, Exploring and Reporting on XBRL Data

NEW YORK and VANCOUVER — May 6, 2009 — JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies, today announced the launch of its beta program for xfy XBRL Report. Government and corporate users are invited to test the first and only application that enables users to view, explore and report on multi-dimensional XBRL data; combine it with other content; then publish the results as richly rendered reports to HTML, PDF and other target outputs.

“XBRL wasn’t designed for human readability, and that introduces risk at every stage of the information lifecycle — from preparation to the review and analysis used to make operational and investment decisions,” said Diane Mueller, vice president, XBRL development for JustSystems. “xfy XBRL Report provides a trusted rendering and visualization solution for composing and publishing reports in formats designed to be read by people, not machines. Now, users can comply with and take advantage of the XBRL standard without incurring new costs, risk and complexity.”

Availability and Participation

The beta version of xfy XBRL Report is available now.  Users interested in participating in the beta program can email beta@justsystems.com.

Inside xfy XBRL Report

JustSystems designed xfy XBRL Report for people who want to review and analyze XBRL data and share their results with others. To that end, xfy XBRL Report consumes XBRL, creating content that uses the XBRL data and publishes it in a web-ready HTML or PDF. Other users can view the published reports without any special software — just a standard web browser. The xfy XBRL Report audience includes:

  • Filers, who need complete visibility throughout the filing process and a rich environment for rendering and visualizing XBRL data to ensure filings are free of errors, oversights and omissions;
  • Preparers, who perform internal reviews of XBRL filings and provide a value-added service for client-facing reviews, validation and sign-off;
  • Auditors, who need to bring together XBRL and non-XBRL data in a rich visual environment and then manipulate and abstract information for complete review, analysis and attestation of corporate filings;
  • Research Analysts, who need an internal tool for reviewing XBRL filings to provide a platform for adding value-added content and services for investors and other constituents;
  • Institutional and individual investors, who want to take advantage of the transparency and comparability XBRL data provides by rendering and visualizing XBRL and non-XBRL data from multiple entities and by providing a basis for making informed investment decisions; and
  • Financial journalists, analysts, investors and other data users, who want instant access to the accurate figures they need for real-time reporting to enhance their own and their clients’ decision making processes.

Highlights of xfy XBRL Report include:

  • Instant viewing, analysis, and work capabilities with XBRL data — in real time and in human-readable, richly rendered formats;
  • Viewing of multi-dimensional XBRL-tagged reports;
  • Interactive viewing experience;
  • Risk mitigation via instant, interactive access to reviewers of financial data;
  • Edgar Online I-Metrix connector provides access to Edgar Online data directly from xfy XBRL Report user interface; and
  • Attribution references let users create views of XBRL data that connect back to the source data.

Read the rest of this entry »

JustSystems Continues to Drive XBRL Standard Forward

May 5th, 2009 by admin

Diane Mueller Appointed to Board of Directors of XBRL International; Dave Raggett Appointed to the XBRL Technical Standards Board

NEW YORK and VANCOUVER — May 6, 2009 — JustSystems, the largest independent software vendor in Japan and a worldwide leader in XML and information management technologies, today announced that Diane Mueller, vice president, XBRL development for JustSystems, has been appointed to the Board of Directors (BOD) of XBRL International, Inc. (XII). In addition, the company announced that Dave Raggett, JustSystems-sponsored W3C Fellow, has been appointed to the XBRL International Standards Board (XSB).

In related news, JustSystems also announced the launch of its Beta program for xfy XBRL Report, the first and only application that enables users to view, explore and report on multi-dimensional XBRL data (see press release titled, “JustSystems Launches Beta Program for xfy XBRL Report”).

Mueller and Raggett have been actively involved in the development efforts of the XBRL standard for several years, and their new appointments validate their continued commitment to driving the standard forward. In Mueller’s BOD role, she will focus heavily on global XBRL adoption and implementation strategies. As part of the XBRL Standards Board, Raggett will spend time exploring the relationship between XBRL and the semantic web.

“XBRL has the potential to transform business, dramatically simplifying filing and reporting — improving transparency and information access in ways never before imaginable,” said Mueller. “By working closely with organizations like XII, we look forward to advising regulators, accounting firms and corporations as to what they must do to adapt to the new world of business reporting.”

Along with XBRL International and many other organizations worldwide, JustSystems has been aggressively supporting the development of the XBRL standard and integrating the interactive data format into its xfy platform. JustSystems’ software solutions work along with XBRL to enable a richer way of working with and utilizing information, leveraging their technology around information search and retrieval, semantics, document management, and data integration.

For more information on XBRL International, please visit http://www.xbrl.org/Home/. For more information on JustSystems, please visit http://www.justsystems.com/ and the JustSystems XBRL Knowledge Center at http://na.justsystems.com/xbrl.