Information Outlook, December 2006

Volume 10, Issue 12https://scholarworks.sjsu.edu/sla_io_2006/1011/thumbnail.jp

The Role of XBRL on EMAS Reporting: An Analysis of Organisational Values Compatibility

This paper proposes a measurement method for assessing the extent to which the XBRL digital standard eXtensible Business Reporting Language can assist firms in implementing their reporting when applying EMAS The EU Eco-Management and Audit Scheme. A specific survey based on the work of (Bunker et al., 2007), which uses Value Compatibility, was carried out at the most important firms in Southern Spain. Different sectors were involved in the study: public hospital, copper manufacturing facilities, petrochemical plant and pulp and renewable energy production. The results reveal some concordances between EMAS using XBRL as a reporting technology, and the cultural, organisational and technical working environment of the analysed firms, specifically those related to the Structural Dimension. By contrast, some discordance is highlighted related to the Practical Dimension. The paper proposes for the first time the application of the global financial standard XBRL for a non financial purpose like the widely accepted EMAS, to actual potential uses in real scenarios. The empirical research combined heavy industry with services, privately owned firms with public entities, private and public sector, in the analysis of this technology. The paper represents a necessary landmark for a subsequent longitudinal study.JEL Codes - D8; M14; M15; M41; M4

Exploiting Linked Data in Financial Engineering

Part 3: Finance and Service ScienceInternational audienceIn this paper, we report on a recent initiative that exploiting Linked Data for financial data integration. Financial data present high heterogeneity. Linked Data helps to reveal the true data semantics and “hidden” connection, upon which meaningful mappings can be constructed. The work reported in this paper has been well-accepted at several public events and conferences, including the 26th XBRL conference, involving the realisation of the XBRL (eXtensible Business Reporting Language) prototype called HIKAKU, which means “comparison” in Japanese. It demonstrates our approach to exploit the power of Linked Data in enhancing flexibility for data integration in the financial domain

InfoTech Update, Volume 14, Number 6, November/December 2005

https://egrove.olemiss.edu/aicpa_news/5013/thumbnail.jp

The Prediction Of Future Earnings Using Financial Statement Information: Are Xbrl Company Filings Up To The Task?

Financial statement data for large companies became available to the public in XBRL format starting in 2009 in the United States. Proponents of XBRL, along with the SEC, argue that XBRL filings offer several advantages over data provided by data aggregators, such as lower cost, faster availability, and broader coverage. The purpose of this study was to contribute to the combody of knowledge by investigating whether current XBRL company filings are useful in the prediction of future earnings and to attempt to interactively obtain the balances of 70 accounting concepts needed to create an earnings prediction model from a sample of XBRL filings. Current XBRL filings do not allow for interactive extraction of required accounting elements because too many accounting elements are missing from the XBRL filings. Accordingly, an additional data set was created by manually populating missing accounting concepts within the XBRL filings if sufficient component accounting concepts existed within the same XBRL filing (e.g., if current liabilities and long-term liabilities were tagged in the XBRL filing, total liabilities could be calculated). This process mimicked what could be performed by added functionality built directly into the XBRL taxonomy. This functionality would not create any excess time, effort, or cost for preparers or users. This fully populated XBRL data set allows the user to create earnings prediction models interactively, whereas the current XBRL data set does not. This indicates that current XBRL company filings are likely to be limited in their usefulness in other areas as well, while a more fully populated set of XBRL company filings that includes additional data has the potential to improve the usefulness of XBRL data

Development of the BIRD: a metadata modelling approach for the purpose of harmonising supervisory reporting at the European Central Bank - Directorate of general statistics: master and metadata

Internship Report presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Information Analysis and ManagementThe work presented is a report documenting the work completed during an Internship at the European Central Bank (ECB), located in Frankfurt Germany from the 15th March 2019 – 15th March 2020. The internship took place in the Directorate of General Statistics (DG-S), specifically in the Master and Metadata section of the Analytical Credit and Master data division (MAM). It will be a continuation of the ECB Internal Banks’ Integrated Reporting Dictionary (BIRD) project as well as management of ECB’s centralised metadata repository, known as the Single Data Dictionary (SDD). The purpose of the dictionary and BIRD Project is to provide the banks with a harmonized data model that describes precisely the data that should be extracted from the banks' internal IT systems to derive reports demanded by supervisory authorities, like the ECB. In this report, I will provide a basis for understanding the work undertaken in the team, focussing of the technical aspect of relational database modelling and metadata repositories and their role in big data analytical processing systems, current reporting requirements and methods used by the central banking institutions, which coincide with the processes set out by the European Banking Authority (EBA). This report will also provide an in-depth look into the structure of the database, as well as the principles followed to create the data model. It will also document the process of how the SDD is maintained and updated to meet changing needs. The report also includes the process undertaken by the BIRD team and supporting members on the banking community to introduce new reporting frameworks into the data model. During this period, the framework for the Financial Reporting (FinRep) standards was included, through a collaborative effort between banking representatives and the master and metadata team

Re-Engineering a Financial Information Supply Chain with XBRL: An Exploratuon of Cooperative IOS Deisgn and Development

Financial markets worldwide have been experiencing dramatic changes since the mid-1990s. It has been claimed that XBRL, an XML vocabulary for business reporting, is capable of introducing greater integration and transparency into financial information systems, and thus addressing some of the challenges presented by these changes. This paper presents an exploratory case study of the cooperative design, development and implementation of an XBRL-enabled inter-organisational system (IOS) by the Australian Prudential Regulation Authority (APRA), the Reserve Bank of Australia (central bank) and the Australian Bureau of Statistics to revolutionise reporting by financial institutions in Australia. The study describes how the three agencies modernised and harmonised reporting requirements through a gradual review of the reporting returns required by each agency. This harmonisation enabled the reengineering of the reporting process, as each financial institution now has to submit just one set of figures to meet the needs of all three agencies. The findings illustrate that the complexity of data consumption patterns drove increased interdependence within the financial information supply chain requiring the co-operative development of context sensitive data exchanges and commodity-like IT infrastructures. The paper concludes that the co-operative approach to IOS development exhibited in this study is likely to be more suited to the development of XBRL-enabled systems for financial information supply chains than the ‘hub and spoke’ model characteristic of IOS developments in other industrial sectors