XBRL Overview Grant Boyd General Manager Corporate Services

XBRL Overview Grant Boyd General Manager - Corporate Services with the Institute Co - Chair of XBRL-NZ, Steering Committee

Overview § Defining XBRL - Technology Overview-What is it ? § What problem does it solve OR the Value Proposition of XBRL § How does it work? § Global Update § International Consortium § Who is using XBRL § New Zealand § Contacts

XML Markup: What Does it Look Like? Grant Boyd Institute of Chartered Accountants of New Zealand 40 Mercer Street Wellington New Zealand 6001 + (64) -4 -4600 -607 Birthdate: 11 June 1962 <name>Grant Boyd</name> <address> <Coyname>Institute of Chartered Accountants of New Zealand</coyname> <street>40 Mercer Street</street> <city>Wellington</city> <country>New Zealand</country> <postcode>6001</postcode> </address> <telephone>6444600607</telephone> <birthdate>1962 -06 -11</birthdate> Ordinary information Metadata: Information about information

Content and Context § Thousands of companies release financial results quarterly § The contents are not organized. The data must be re-entered into computer applications for interpretation. § What if financial documents included both § Content (75, 044, 453) and § Context § (EUR 75, 044, 453=net income for Q 1/2001)

XBRL Terminology § Specification - now at Version 2. 1 - released December 2003 § Taxonomy – Includes x-link (link Bases) § Instance Document § Style sheets

Taxonomy - Dictionary of Terms and a Building Block GCD IAS NZ Industry Company

Taxonomy as Dictionary Disclosure Income inc Advertising exp. adv Expense Result exp inx Marketing Profit Net Interest exp. mkt inx. prf inx. int

Taxonomy as Classification Disclosure Defined as Income Expense Result Defined as Advertising Marketing Profit Net Interest

Taxonomy as Calculation Disclosure Added into Income Expense Result Subtracted from Added into Advertising Marketing Profit Net Interest Added into

Taxonomy as Reference Disclosure Reference IAS 1 Income Expense Result Ref IAS 5. 6. a. i Ref IFRS X. X Reference IAS 3. 9. a Advertising Marketing Profit Net Interest Ref IFRS X. X

Taxonomy as Reusable Building Block Disclosure Added into Income Result Expense Subtracted from Added into Rebates Advertising Marketing Website Expenses Profit Net Interest Added into

Instance Document § A discrete XBRL document § A set of financial statements - rendered in XBRL § Your Annual report is an Instance Document § A set of monthly management reports in XBRL is an instance document

Style Sheets § The same terminology as used for a Website style sheet. § A style sheet ‘translates’ your XBRL Instance document into the format you set. § E. g a file for a printer, a web page, A GST statement etc

Raw XBRL <gaap: lb. noncur. crd numeric. Context="rg. cy 00. jpy">-310000000. </gaap: lb. noncur. crd> <gaap: lb. noncur. crd numeric. Context="rg. cy 00. usd">-449000. </gaap: lb. noncur. crd> <gaap: lb. noncur. crd numeric. Context="rg. cy 01. jpy">-344000000. </gaap: lb. noncur. crd> <gaap: lb. noncur. crd numeric. Context="rg. cy 01. usd">-499000. </gaap: lb. noncur. crd> <gaap: lb. provisions numeric. Context="rg. cy 00. jpy">-112000000. </gaap: lb. provisions> <gaap: lb. provisions numeric. Context="rg. cy 00. usd">-163000. </gaap: lb. provisions> <gaap: lb. provisions numeric. Context="rg. cy 01. jpy">-212000000. </gaap: lb. provisions> <gaap: lb. provisions numeric. Context="rg. cy 01. usd">-307000. </gaap: lb. provisions> <gaap: opc numeric. Context="rg. cy 00. jpy">-3181000000. </gaap: opc> <gaap: opc numeric. Context="rg. cy 00. usd">-4613000. </gaap: opc> <gaap: opc numeric. Context="rg. cy 01. jpy">-3583000000. </gaap: opc> <gaap: opc numeric. Context="rg. cy 01. usd">-5196000. </gaap: opc> <gaap: opc. acq numeric. Context="rg. cy 00. jpy">0. </gaap: opc. acq> <gaap: opc. acq numeric. Context="rg. cy 00. usd">0. </gaap: opc. acq> <gaap: opc. acq numeric. Context="rg. cy 01. jpy">-35000000. </gaap: opc. acq> <gaap: opc. acq numeric. Context="rg. cy 01. usd">-50000. </gaap: opc. acq> <gaap: opc. cnt numeric. Context="rg. cy 00. jpy">411000000. </gaap: opc. cnt> <gaap: opc. cnt numeric. Context="rg. cy 00. usd">595000. </gaap: opc. cnt> According to GAAP <gaap: opc. cnt numeric. Context="rg. cy 01. jpy">337000000. </gaap: opc. cnt> Operating Costs for <gaap: opc. cnt numeric. Context="rg. cy 01. usd">488000. </gaap: opc. cnt> Rock Gravel Corporation <gaap: opf numeric. Context="ins. cy 00. jpy">157000000. </gaap: opf> Calendar Year 2001 <gaap: opf numeric. Context="ins. cy 00. usd">228000. </gaap: opf> in Yen = 3, 583 m <gaap: opf numeric. Context="ins. cy 00 h 1. jpy">84000. </gaap: opf> <gaap: opf numeric. Context="ins. cy 00 h 2. jpy">73000. </gaap: opf> <gaap: opc numeric. Context="rg. cy 01. jpy">-3583000000. </gaap: opc>

Another Serving of Raw XBRL <numeric. Context id="rg. cy 00. jpy" cwa="false" precision="4"> <entity> <identifier scheme=“http: //www. gov. tx">rg</identifier> </entity> <period> <start. Date>2000 -01 -01</start. Date> <end. Date>2000 -12 -31</end. Date> </period> <unit> <measure>iso 4217: jpy</measure> </unit> </numeric. Context> Rock Gravel Corporation Period from 1 Jan 2000 to 31 Dec 2000 In Yen Precise to 4 digits

Sample of the IAS PFS Taxonomy <element id="iascf-pfs_Statement. Changes. Equity" name="Statement. Changes. Equity" abstract="true" /> <element id="iascf-pfs_Statement. Cash. Flows" name="Statement. Cash. Flows" abstract="true" /> <element id="iascf-pfs_Short. Term. Employee. Benefits. Nature" name="Short. Term. Employee. Benefits. Nature" type="xbrli: monetary. Item. Type" substitution. Group="xbrli: item" xbrli: balance="debit" /> <element id="iascf-pfs_Short. Term. Deposits" name="Short. Term. Deposits" type="xbrli: monetary. Item. Type" substitution. Group="xbrli: item" xbrli: balance="debit" /> <element id="iascf-pfs_Share. Profit. Loss. Investments. Relating. Cash. Flows. Operating. Activities" name="Share. Profit. Loss. Investments. Relating. Cash. Flows. Operating. Activities" type="xbrli: monetary. Item. Type" substitution. Group="xbrli: item" /> <element id="iascf-pfs_Share. Profit. Loss. Equity. Accounted. Subsidiaries" name="Share. Profit. Loss. Equity. Accounted. Subsidiaries" type="xbrli: monetary. Item. Type" substitution. Group="xbrli: item" xbrli: balance="credit" /> <element id="iascf-pfs_Share. Profit. Loss. Equity. Accounted. Joint. Ventures" name="Share. Profit. Loss. Equity. Accounted. Joint. Ventures" type="xbrli: monetary. Item. Type" substitution. Group="xbrli: item" xbrli: balance="credit" /> <element id="iascf-pfs_Share. Profit. Loss. Equity. Accounted. Investments" name="Share. Profit. Loss. Equity. Accounted. Investments

Overview § Defining XBRL - Technology Overview-What is it ? § What problem does it solve OR the Value Proposition of XBRL § How does it work? § Global Update § International Consortium § Who is using XBRL § New Zealand § Contacts

The business information supply chain Processes Business Operations Internal Financia l Reportin g XBRL Trading Partners Management Accountants Economic Policymaki ng XBRL Financial Publishers and Data Aggregators Companies Participants Investmen t, Lending, Regulation External Financial Reporting Auditors Software Vendors Investors Regulators Central Banks

The Problem Source A Function V Source B Function W Source C Function X Source D Function Y Source E Function Z

The Solution § Any business reporting information § Any software application Source A Function V Source B Function W Source C Function X XBRL Source D Function Y Source E Function Z

Borrower Financials Divisional Financials Companies Financial Reporting Counterparty Financials Credit Assessm ent Joint Venture Financials Portfolio Financials Management Reports Internal Financial Reporting Subsidiary Financials Annual and Quarterly Financials Call Reports External Financial Reporting Partnership Financials Markets and Regulators Tax Filings

Borrower Counterparty Portfolio Financials Companies Financial Reporting XBRL Divisional Joint Financials Venture Financials Credit Assessm ent XBRL Subsidiary Management Financials Reports Internal Financial Reporting XBRL Annual and Quarterly Call Financials Partnership Reports Tax Financials Filings External Financial Reporting XBRL Markets and Regulators

Overview § Defining XBRL - Technology Overview-What is it ? § What problem does it solve OR the Value Proposition of XBRL § How does it work? § Global Update § International Consortium § Who is using XBRL § New Zealand § Contacts

As a preparer of financial information how do I make this work? § Map COA to a Taxonomy (once only exercise) Needs some accounting knowledge § Create financial statements – XBRL Instance document. § Build stylesheets to provide my reports

Map my Chart of Accounts to a Taxonomy § You need a New Zealand Taxonomy – Released today. § You need a taxonomy builder (tools are available) § You need a mapping tool (some on market) § You need a system that holds your data - Current system enabled to use XML

Create XBRL Financial Statements § You need an Instance document creator - some on the market – will ultimately become a part of software packages § Microsoft is developing a tool to work with excel and create instance documents § You need a style sheet developed ( can use current tools)

Overview § Defining XBRL - Technology Overview - What is it ? § What problem does it solve OR the Value Proposition of XBRL § How does it work? § Global Update § International Consortium § Who is using XBRL § New Zealand § Contacts

XBRL International A non-profit consortium § Manage the royalty-free intellectual property § Facilitate knowledge sharing among members § Organise conferences IASB Spain Canada Sweden United States Italy Finland Ireland United Kingdom Netherlands Argentina Russia Belguim Sweden Japan Denmark Germany Austria China Taiwan Hong Kong Singapore Mexico South Korea Australia New Zealand

Live Applications § § § § APRA (2001) EDGAR Online (2001) DATEV/Bundesbank (3 Q 2002) Wacoal (4 Q 2002) – Internal Reporting One. Source (1 Q 2003) Tokyo Stock Exchange (1 Q 2003) Sumitomo Mitsui Banking Corp. (1 Q 2003) Danish Commerce & Companies Agency (1 Q 2004) Dutch Water Authority (3 Q 2003) – Internal Reporting UK Inland Revenue (4 Q 2003) KOSDAQ – Korea (4 Q 2003) National Tax Agency of Japan (1 Q 2004) US FDIC (3 Q 2004) § Morgan Stanley, Reuters, Microsoft § NASDAQ-MSFT-Pricewaterhouse. Coopers Pilot

Representative XBRL-enabled Products § § Shipping § § SAP my. SAP financials Microsoft Business Solutions Navision Oracle FSG Creative Solutions (et al. ) § Announced § § § Microsoft Office Solution Accelerator for XBRL Hyperion Financials People. Soft Enterprise Financial Management Case. Ware Financials Hitachi GEMPlanet

§ SO WHEN SHOULD I ADOPT OR USE XBRL?

Readiness for XBRL Committed to Current Processes or Technology Low Aware but not yet using Internet and XML Technology Examining Business Requirements Committed to Improving End-to-end Reporting Process High

Overview § Defining XBRL - Technology Overview - What is it ? § What problem does it solve OR the Value Proposition of XBRL § How does it work? § Global Update § International Consortium § New Zealand § Contacts

Why do we need National Jurisdictions? § Functions best done locally § Operate in their native language (e. g. Yahoo Group) § Responsible for own taxonomies § Lobby their government agencies for adoption § Functions best leveraging the whole international organization § § Cross-company, cross-border knowledge sharing Common intellectual property protection Conference co-ordination Relationships with multinational member companies

NZ has become a Full Jurisdiction member – August 2002 § Provisional Jurisdiction § Protection of XBRL trademarks, domain names § Facilitator staff § XBRL e-mail and archives § Participation in XBRL International working groups § Eligible to host International Conference § Eligible to submit “Approved” Taxonomy to ISC § Full Jurisdiction § Voting Representation on Steering Committee § Member company § Voting participation on Supply Chain Communities § Voting participation on Working Groups § Resident company staff § Discounted attendance at hosted conferences § All member company staff § XBRL e-mail and archives

XBRL-NZ Members § § § § § Institute of Chartered Accountants of NZ Inland Revenue NZ Stock Exchange Statistics New Zealand KMPG Deloitte. Ernst Young Price. Waterhouse. Coopers Reserve Bank Audit New Zealand Companies Office University of Auckland APS Solutions Redspider Fifth Web UNITEC Inline to Online

Why join as a member? Benefits of Corporate Membership § Early Access to Information § Technical § Marketing § Influence on XBRL Evolution § Technology directions § (Often incorporating jurisdiction specific issues) § Industry focus § (Also varies in importance by jurisdiction) § Community and knowledge sharing § What you get out depends on what you put in § What’s not written down is sometimes of most value

Benefits to New Zealand E-Filing Costs: The filers’ perspective § Multiple, specialised reporting schemes § All companies bear costs of all reporting channels § No incremental benefit from one initiative to the next Companies Office § Common reporting scheme based on XBRL NZX SEC § Companies’ initial costs the same, subsequently reduced § All other agencies’ e-filing benefits from common base Reserve Bank NZ Company Inland Revenue

Who is leading this? § The members § Co-Chairs of XBRL-NZ are Grant Boyd and Graeme Sinclair § Currently a strategy group of 6 people § Steering group of about 30 people

What work is happening in New Zealand? § Regular phone calls § Email group established and use to pass information § Two key people developing taxonomy - Alan Teixeira and Josef Macdonald § NZ draft taxonomy was completed last year - helped with learning – formal release May 2004 § Members on the IAS taxonomy development team § NZX new announcements system built to utilise XBRL when taxonomy is ready - Completion May 2004 § Current discussions with IRD and Statistics - pilot?

What is Project First Step? You will hear about that later today! And other developments in New Zealand including Companies office and MYOB – tomorrow session.

Contacts § Grant Boyd § Institute of Chartered Accountants of New Zealand § email: grant_b@icanz. co. nz § Phone 04 4600607 § Graeme Sinclair § KPMG - Wellington

Information and resources § Web sites: § www. xbrl. org. nz

XBRL Overview Questions? Grant Boyd Institute of Chartered Accountants of New Zealand