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Open, standards-based technologies and architectures present many obvious advantages in terms of cost reduction, increased flexibility and interoperability, and ultimately sustainable business growth.

Developing a vision and a strategy on the adoption and implementation of standards requires not only domain and technical knowledge. It also demands a solid understanding of the peculiarities of a truly effective and comprehensive standards based approach as opposed to a more traditional IT infrastructure– where a successful project is the delivery of a single new application, rather than the optimization of the information system as a whole.

The Hot Topics (last tab) section describes various use cases of XBRL GL, the focus of our intellectual effort and creative energy. We believe the potential of XBRL GL for streamlining manual data processes is enormous, and we are excited about working with our clients on practical, cost-effective implementations in this area.

Please contact us for more information.

  • Business case
  • Taxonomy architecture, with extensive experience on architectures that support cross-domain reporting such as Standard Business Reporting (SBR) programs
  • Taxonomy creation, governance and maintenance
  • Knowledge transfer
  • World-class training on XBRL and XBRL Global Ledger
  • Independent quality assurance review prior to publication of a new release of an existing taxonomy and of its supporting documentation
  • Setup and configuration of WIKSYS, XSYSTS, Project Nunavut
  • Creation of executable mappings from your source applications to XBRL Global Ledger and to XBRL taxonomies
  • Creation of standardized business rules for data validation, analysis, monitoring and auditing
  • Design of XBRL taxonomies for internal reporting
  • Knowledge transfer
  • World-class training on XBRL and XBRL Global Ledger

XBRL GL Use Cases


The cur­rent Hot Topic focuses on the use cases of XBRL GL, the stan­dard­ized Global Ledger. Step­ping back from a the­o­ret­i­cal frame­work and take a look at its pos­si­ble prac­ti­cal uses is the eas­i­est way to envi­sion its poten­tial appli­ca­tion in our own envi­ron­ment. This is by no mean an exhaus­tive list, and it is actu­ally meant to grow, with more use cases added and with more detail pro­vided on each use case. Poten­tially, we would like to develop a pro­to­type or a proof of con­cept to illus­trate each use case.

If you have sug­ges­tions on use cases that you would like to see added to the list, or thoughts or ques­tions on this topic, please con­tact us.

CROSS-INDUSTRY XBRL GL USE CASES

Data Migra­tion

XBRL GL facil­i­tates move­ment from one operation/​accounting prod­uct to another. As a com­pany grows out of a prod­uct, needs to migrate to an online sys­tem or another oper­at­ing plat­form, or needs to switch prod­ucts for any other rea­son, the stan­dard­ized export means the new prod­uct func­tion­al­ity can include pre-​analysis and guid­ance in mov­ing data between systems.

Data Archival

Com­pa­nies need to cap­ture and archive their data. How­ever, most com­pa­nies will change soft­ware prod­ucts — and will def­i­nitely see ver­sion­ing issues even with the same ven­dor and prod­uct line — and a stan­dard­ized for­mat will make the data reusable inde­pen­dent of plat­form, ven­dor, prod­uct and version.

Data Inte­gra­tion

As a uni­ver­sal and global meta data struc­ture, XBRL GL allows to exchange transaction/​detail level data com­ing from dif­fer­ent sources, achiev­ing inter­op­er­abil­ity between dif­fer­ent appli­ca­tions (tech­ni­cal inter­op­er­abil­ity) and dif­fer­ent business/​accounting prac­tices (domain inter­op­er­abil­ity): so data com­ing from dif­fer­ent busi­ness units/​departments/​subsidiaries, some or all with their own ERP sys­tem and located in dif­fer­ent coun­tries can be moved/​exchanged between the var­i­ous mod­ules of the infor­ma­tion sys­tem, or between dif­fer­ent infor­ma­tion sys­tems. In this respect XBRL GL can be viewed as a par­tic­u­larly effec­tive for­mat to be used by ETL applications.

Con­sol­i­da­tion

XBRL GL allows not only to exchange data within an entity (or dif­fer­ent enti­ties), but offers also a stan­dard­ized way to iden­tify and man­age con­sol­i­da­tion and elim­i­na­tion entries when data is com­ing from dif­fer­ent units/​departments and needs to be rep­re­sented in con­sol­i­dated statements.

Pay­load for Web Ser­vices Ori­ented Architectures

XBRL GL is the ideal pay­load for a web services-​oriented archi­tec­ture: it makes data acces­si­ble inde­pen­dently from the application(s) they reside in, allow­ing to share, exchange and val­i­date data with exter­nal par­ties that do not nec­es­sar­ily have access to the cor­po­rate infor­ma­tion sys­tem, and that do not nec­es­sar­ily use the same appli­ca­tions and same for­mats: customers/​vendors, banks, audi­tors, or busi­ness part­ners to which one or more func­tions or processes have been outsourced.

Audit­ing and Compliance

XBRL GL enables a seam­less audit trail, and allows imple­ment­ing rules-​based mon­i­tor­ing, trig­gers and alarms across the whole infor­ma­tion sys­tem and its var­i­ous components.

CROSS INDUSTRY XBRL GL/ FR USE CASES

Bridge Between Trans­ac­tions And Final Reporting

XBRL GL enables to inte­grate infor­ma­tion com­ing from the main ERP sys­tem with other infor­ma­tion stored in sep­a­rate sys­tems or in the “spread­sheet hell”, stan­dard­ize it and use it to feed one or more XBRL Finan­cial Report­ing tax­onomies (or other XML schemas) to reuse the same data for dif­fer­ent inter­nal and exter­nal report­ing purposes.

Rec­on­cil­i­a­tion

The use of XBRL GL to rep­re­sent data at detail/​transaction level and the pos­si­bil­ity that it offers to link to mul­ti­ple XBRL Finan­cial Report­ing tax­onomies or other schemas pro­vide a pow­er­ful and effec­tive way for drilling up, drilling down and drilling around from sum­mary reports to the under­ly­ing detail data, allowing to

  • Rec­on­cile dif­fer­ent inter­nal or exter­nal reports: exec­u­tive, statu­tory, reg­u­la­tory, auditing;
  • Rec­on­cile multi-​GAAP reports in a global enter­prise environment.

INDUSTRY SPECIFIC USE CASES

Banks And Finan­cial Insti­tu­tions Report­ing To FDIC

FDIC’s Call Report is sub­mit­ted by banks and finan­cial insti­tu­tions in XBRL FR for­mat. Typ­i­cally, the con­ver­sion to XBRL hap­pens at sum­mary level: the ven­dors that sup­port the Call Report sub­mis­sion on behalf of the report­ing banks receive the report in the for­mat cho­sen by the bank, then con­vert it to XBRL and sub­mit it to FDIC. In this con­text, the value propo­si­tion of the use of XBRL for the banks is min­i­mal: it is just another for­mat in which the infor­ma­tion can be rep­re­sented and exchanged, and there is no cost reduc­tion for the report­ing entity.

By adopt­ing XBRL GL to rep­re­sent entries and trans­ac­tions that ulti­mately roll up to the Call Report, a bank can actu­ally lever­age the poten­tial of XBRL in terms of inte­gra­tion and reusabil­ity of data and auto­mated rec­on­cil­i­a­tion of reports with the underlying data.

The same, obvi­ously, applies to any entity report­ing in XBRL (or other XML based stan­dards): for exam­ple com­pa­nies par­tic­i­pat­ing to the SEC VFP.

Enti­ties Using Indus­try Spe­cific XML-​Based Trans­ac­tional Stan­dards Like MISMO

XBRL GL is not designed to be a trans­ac­tional stan­dard, but can rep­re­sent trans­ac­tions expressed in any other XML stan­dard as they flow along one entity’s infor­ma­tion sys­tem: if you want to exchange an invoice with a busi­ness part­ner you will use ebXML, but if you want to rep­re­sent the entries related to that invoice in a cor­po­rate infor­ma­tion sys­tem you will use XBRL GL. MISMO is the mort­gage indus­try XML stan­dard: the inte­gra­tion with XBRL GL offers obvi­ous advan­tages for its users.

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