Interactive, Intelligent, Smart… Sustainable!

There are a few different ways of defining XBRL data that are being used in an effort to convey its unique features and benefits, such as Interactive Data, Intelligent Data, and Smart Data. They are all accurate and useful, because they communicate the idea that, once business data is standardized and appropriate semantics are embedded with it, it becomes capable of bringing value and benefits to its users on its own, without relying on the “processing logic” built into proprietary software applications that provide access to it. Data...

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The Expansion of SBR in Australia Gets another Boost

I wrote before about the ongoing expansion of the Standard Business Reporting (SBR) program in Australia, which includes: The migration of all Australian Tax Office (ATO) reporting to SBR The use of SBR in the Superannuation industry The exploration around a possible mandate to use SBR to submit financial reports to the Australian Securities and Investments Commission (ASIC) conducted by the Australian Treasury earlier this year. The Australian Government 2013 – 2014 Budget released last May includes a provision for additional funding of...

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XBRL FAQ — DATA Act Special Edition: Will Adoption of Open Standards Cost A Lot to the Government?

Q The DATA Act aims at introducing open standards for the communication and publication of Government data. Doesn’t this require changing all the software applications and information systems of the reporting agencies, which tanslates into huge additional costs? A Actually, the opposite is true. Firstly, existing information systems do not have to be changed to enable them to generate data using open standards such as XBRL. This is a common misconception, mostly based on inefficient approaches adopted by software vendors and users to embed...

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XBRL FAQ: What Is a Standard Business Reporting (SBR) Program?

Q What is a Standard Business Reporting (SBR) program, and what are its defining features?   A SBR programs are regulatory initiatives aimed at streamlining and reducing the cost of business-to-government reporting. There are currently two officially recognized SBR programs: the Standard Business Reporting Programma in The Netherlands and the Standard Business Reporting Program in Australia. The SBR approach is also under consideration by various other countries. The key features that distinguish a SBR initiative are: They are...

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An update on the Australian Standard Business Reporting (SBR) Program

A few different documents and reports recently published by the Australian Government offer a wealth of information on the origin and history of the SBR program, on its current status, on its impact on the Australian business environment so far and on its future perspectives. The Productivity Commission Report On May 15, 2012 the Productivity Commission of the Australian Government — an independent research and advisory body on a range of economic, social and environmental issues — published a research report titled “Impacts of the Council of...

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