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  • Title: XBRLSpy | Accelerate Compliance with XML Today
    Descriptive info: .. log in.. Search this site:.. Top Stories.. IMA Urges US Senate to Ratify H.. R.. 2146: The Digital Accountability and Transparency Act (DATA Act).. IMA ((Institute of Management Accountants) announced today its support of H.. 2146, The Digital Accountability and Transparency Act (DATA Act), and urged the full U.. S.. Senate to proceed on passage of its companion bill (S.. 1222).. The DATA Act passed the U.. House unanimously on April 25, 2012 and has been referred to the U.. Senate Homeland Security and Government Affairs Committee, where it awaits approval before going to the full Senate for a vote.. The DATA Act recommends that eXtensible Business Reporting Language (XBRL) be considered as the non-proprietary data standard for the U.. government, and IMA supports the use of the technology, which will provide accountability and transparency to federal government spending.. XBRL -- or interactive data -- is a global, freely available, standardized data format for exchanging financial and business information in a computer-readable format.. XBRL enables more transparent, streamlined exchange and analysis of data critical for government oversight, said Brad J.. Monterio, IMA board member, chair of IMA s XBRL Committee, and managing director at Colcomgroup, Inc.. U.. lawmakers have an opportunity to save taxpayer money, improve information transparency, eliminate process inefficiencies, and better manage risk through the use of XBRL and passage of the DATA Act.. For more information about HR2146:.. http://www.. govtrack.. us/congress/bills/112/hr2146.. May.. 3rd,.. 2012.. Add new comment.. Read more.. Kundra on Recovery.. gov move to the Cloud.. Great post today on the US Governement migrating to the Cloud by.. Vivek Kundra is U.. Chief Information Officer.. on.. whitehouse.. gov/blog/2010/05/13/moving-cloud.. Today, the Recovery Accountability and Transparency Board announced that it is moving.. Recovery.. gov.. to the cloud.. As the world s largest consumer of information technology and as stewards of taxpayer dollars, the Federal Government has a duty to be a leader in pioneering the use of new technologies that are more efficient and economical.. For those of you not familiar with cloud computing, here is a brief explanation.. There was a time when every household, town, or village had its own water well.. Today, shared public utilities give us access to clean water by simply turning on the tap.. Cloud computing works a lot like our shared public utilities.. However, instead of water coming from a tap, users access computing power from a pool of shared resources.. Just like the tap in your kitchen, cloud computing services can be turned on or off as needed, and, when the tap isn t on, not only can the water be used by someone else, but you aren t paying for resources that you don t use.. Cloud computing is a new model for delivering computing resources such as networks, servers, storage, or software applications.. 17th,.. 2010.. Financial Modeling in Python.. By now, you are all probably all well aware of.. the recent SEC proposal.. proposing to require that most ABS issuers file a python computer program that gives effect to the flow of funds, or waterfall, provisions of the transaction.. Perhaps wondering why Python? What drove the SEC to chose Python, over other dynamic languages (PERL,Ruby, or purpose-specific language like Haskell or why not Java, C++? Perhaps it s because Python is already extensively used is quantitative finance applications; there is already a good body of work in Financial Modeling that leverages Python and a good supply of python-saavy quants primed and ready to do the modeling.. April.. 30th,.. New SEC Proposal: Use Python to Enforce Wall Street Transparency.. (Linux Magazine - Trevan McGee).. Waterfall program would require investors to annotate assets, export in XML.. The U.. Securities and Exchange Commission published a 667-page proposal that, among other things, outlined the implementation and use of a Python program that would annotate asset-backed securities, allowing potential investors to have periodic access to an ABS's pool asset performance, which include the interest rate, level of prepayments, defaults and losses-given-defaults.. The Waterfall computer program, as it's called in the proposal, would provide potential investors with detailed information about an ABS.. In doing so, the program would effectively reduce (but not eliminate) an investor's dependency on third-party analysis by providing updated information typically available only in the prospectus.. "By running the waterfall computer program in combination with other internally-developed or commercially available vendor interest rate, prepayment, default and loss-given-default models, cash flow engines, or computational services, investors should be able to promptly run cash flow simulations and generate present value estimates for ABS tranches," the proposal states.. The proposal requires that an asset data file be created every time an ABS and final prospectus is registered.. The asset data file is then uploaded to the Electronic Data-Gathering, Anaylysis and Retrieval (EDGAR) system, the SEC's public database.. Potential investors or the curious public can download the file and view it within The Waterfall computer program.. Investors also can input their own predictions regarding pool asset performance.. 21st,.. XBRL US Announces Entry into Nascent XBRL Market with New Online XBRL Consistency Checker tool suite.. XBRL US, a non-profit advancing open standards for XML business reporting in the U.. , today annouced the launch of their XBRL Consistency Suite, a set of online XBRL tools developed by XBRL US Labs to help public companies identify inconsistencies in their XBRL documents.. The tool runs thousands of checks against an instance document and produces a report showing inconsistencies related to the use of the XBRL US GAAP Taxonomy so that companies can make corrections before their final SEC submission.. The checks will be updated each quarter and are designed to help companies create more consistent, high quality XBRL data.. The tool also includes access to a database of XBRL documents that are updated regularly throughout the day and let companies identify concepts used and extensions created for all XBRL submissions, for their industry and individual peers.. Dues-paying membershave automatically have access to the XBRL documents database right now access it through the members-only section of.. www.. xbrl.. us.. 6th,.. XBRL in a Nutshell: One on One with Diane Mueller,.. One on One with Diane Mueller, XBRL expert at Just Systems.. By.. Ron Miller.. Diane Mueller is vice president of XBRL development at JustSystems.. She has been actively involved in the development of the XBRL standard including acting as the Canadian representative to the XBRL International Steering Committee.. She serves as Vice Chair of that body, and chairs the XBRL Working Groups on Rendering and Software Interoperability.. We asked her about XBRL and why it's so important.. FCM.. : Explain XBRL in a nutshell for our readers?.. DM.. : In a nutshell, Extensible Business Reporting Language (XBRL) makes financial information more accessible and easier to use through the application of XML.. XBRL is one of a family of XML languages which has become the standard means of communicating information between businesses, regulators and investors across the Internet.. The goal of XBRL is to enhance the exchange of corporate financial information by making it more comparable, consistent and accessible across the web.. You could think of XBRL as the grammar and syntax for describing financial information.. With XBRL, various regulators, domain experts and regional authorities have developed XBRL dictionaries (known as taxonomies ) based on regional and global accounting standards such as the International Financial Reporting Standards (IFRS), the U.. Generally Accepted Accounting Principles (GAAP) or the U.. K.. GAAP to describe the specific financial terms and their relationship to one another based on specific domain areas.. For example, one can look at how Mutual Fund Disclosures pertain to specific regions such as the United States of United Kingdom.. The idea is simple--instead of treating financial information as a block of text, it provides an identifying tag for each individual item of data.. By supplying these terms in a computer-readable manner, consuming applications can easily and accurately parse and analyze the information.. Read more:.. fiercecontentmanagement.. com/story/one-one-diane-mueller-xbrl-expert-just-systems/2009-09-30#ixzz0SzklRfH3.. October.. 4th,.. 2009.. XBRL Global Adoption Update.. Xbrl Global Adoption 2009 07 31.. View more.. presentations.. from.. xbrlplanet.. September.. 11th,.. XBRL US and NIEM to Explore Harmonization of Standards for Government Reporting and Technology.. WASHINGTON, Sept.. 9 /PRNewswire/ -- XBRL US, the XML standard setter for business information reporting, announced today that its Chief Standards Officer, Campbell Pryde, will present at the NIEM (National Information Exchange Model), National Training Event in Baltimore, Maryland on September 30, 2009, which will focus on guidance, resources and tools to aid in the exchange of information for government reporting.. NIEM is the XML-based information exchange framework for U.. government agencies and organizations, and XBRL US is the XML standard setter for business information reporting in the U.. NIEM and XBRL are open, free standards with significant adoption momentum and proven applications.. The two organizations also announced an initiative to investigate how to leverage the strengths of both standards towards better government reporting.. Representatives from NIEM spoke at the XBRL US Board of Directors meeting on August 25, 2009 to discuss the topic of closer harmonization of the complementary standards.. NIEM focuses on standardizing transaction exchanges of non-financial elements used across all levels of government.. XBRL US digital dictionary contains elements for financial data reporting that are currently used by U.. public companies to report US GAAP financial statements.. Leveraging the strengths of both standards is expected to result in greater transparency, accuracy and consistency in government reporting.. 9th,.. US SEC posts 2009 XBRL US GAAP Taxonomy.. The US SEC has now officially posted the 2009 XBRL US GAAP Taxonomy for use by preparers.. An up-to-date listing of al the available XBRL schemas and linkbases of standard taxonomies that are supported by EDGAR can be found at.. sec.. gov/info/edgar/edgartaxonomies.. shtml.. The choice of standard taxonomies is affected by whether or not the company is submitting interactive data under the Voluntary Filer Program (VFP) and whether or not the entity is a corporate filer.. A Voluntary Filing Program (VFP) was started by the Commission in 2005 allowing corporate filers and investment companies to voluntarily submit XBRL-Related Documents as Exhibit 100.. In 2009, the Commission adopted rules requiring these entities to submit Interactive Data as Exhibit 101 on a phased-in or time-delayed basis for certain EDGAR form types.. Corporate Filers Rule Release No.. 33-9002, Interactive Data to Improve Financial Reporting, details Interactive Data submission requirements and phase-in schedules for certain Exchange Act and Securities Act filings, beginning in mid 2009.. Companies covered under this Rule submit Interactive Data as Exhibit 101 (attachment type EX-101) and use the taxonomies applicable , and they may choose to submit their Interactive Data before their scheduled phase-in.. For more information, please visit.. July.. 20th,.. W3C Organizes Workshop on Improving Access to Financial Data on the Web.. W3C invites people to participate in a.. Workshop on Improving Access to Financial Data on the Web on 5-6 October 2009.. in Arlington, Virginia (USA).. Workshop participants will discuss how to achieve greater transparency and more efficient reporting and analysis of business and financial data for companies and governments.. The Workshop is jointly organized by W3C and.. XBRL International.. , with hosting support from the.. Federal Deposit Insurance Corporation (FDIC).. The extensible business reporting language (XBRL), is being widely adopted all around the world, and is set to become the standard way of recording, storing and transmitting business financial information.. While effort on XBRL so far has gone into developing the standards and taxonomies of reporting concepts, comparatively little effort has been spent on how to exploit the expected flood of data.. The goal of the Workshop is to identify opportunities, use cases, and challenges for interactive access to financial data expressed in XBRL and related languages, and the broader opportunities for using Semantic Web technologies.. The Workshop is free of charge and open to anyone, subject to review of their statement of interest and space availability.. Statements of interest (position papers) are due 21 August.. See the call for participation for more information.. Learn more about the Semantic Web.. (Permalink).. 16th,.. Diane Mueller to chair panel on Best Practices Current Approaches to Rendering XBRL at XBRL US Technology Workshop, July 28-30, Santa Clara, CA.. 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 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:.. 13th,.. JustSystems Addresses Connection between XBRL, RDF and Semantic Web.. Session at 2009 Semantic Technology Conference Highlights How XBRL Brings Precise Semantics to Financial Data.. The presentation is now available for download (~8M) at.. http://bit.. ly/zbcH2.. San Jose June 16, 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.. generally accepted accounting principles (U.. 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.. 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), spoke about XBRL at the.. 2009 Semantic Technology Conference held June 14-18 at the Fairmont Hotel in San Jose, CA.. The session titled,.. XBRL, RDF and the Semantic Web.. , took place on Tuesday, June 16, 2009.. The presentation is available for download (~8M) at http://www.. xbrlspy.. org/sites/xbrlspy.. org/files/MuellerRaggettSeTech2009XBRLRDFandSemanticWebv3.. pdf.. June.. 10th,.. SEC announces availability of New 2009 US GAAP taxonomy.. The SEC announced today that registrants can start utilizing the 2009 version of the US GAAP taxonomy on July 22, 2009.. The US GAAP 2009 Taxonomies are in the process of being loaded into the EDGAR system and will be available for use on July 22, 2009.. The US SEC is strongly encouraging companies to begin working with this new taxonomy now.. Tt is publicly available at.. http://xbrl.. us/taxonomies/.. Pages/US-GAAP2009.. aspx.. Companies should use the latest available taxonomy for their entire fiscal year.. However, due to delays in the release of this US GAAP 2009 taxonomy being made available, companies will be permitted to use the U.. GAAP 1.. 0 taxonomy in their first required submission before switching to the US GAAP 2009 taxonomy.. See below for the full text posted at.. gov/info/edgar/.. edgartaxonomies.. 8th,.. SEC to Hold Public Seminar on New Interactive Data Reporting Requirements.. The Securities and Exchange Commission will conduct a public seminar on June 10 from noon to 3 p.. m.. ET to help companies and preparers comply with.. new rules.. that require financial reports to be filed using interactive data (XBRL).. The Commission staff will present information about the technology requirements for complying with the rules and will also provide an overview of the tools and information provided by the Commission to assist with compliance.. The seminar will also cover frequently asked questions about the rules and technology requirements.. In adopting the final rule, the Commission noted that interactive data has the potential to increase the speed, accuracy, and usability of financial disclosure and eventually reduce costs.. This event will be held in the auditorium at the SEC's headquarters at 100 F Street, N.. E.. , in Washington, D.. C.. The seminar will be open to the public with seating on a first-come, first-served basis.. The seminar also will be webcast via the SEC Web site.. Captioning of the webcast will be provided.. Reasonable accommodations for persons with disabilities attending this event in person can be arranged by submitting a request to.. DisabilityProgramOfficer@SEC.. three business days prior to the event.. 2nd,.. Semantic XBRL Data Search Using SPARQL.. -from HitachiDataInteractive.. com Written by Ashu Bhatnagar.. We all use Google for Web searches on a daily basis and admire the simplicity of its front-end user interface.. It s nice, clean, fast, and simple.. Behind this simplicity lie sophisticated index databases and advanced search technologies, but we as users don t need to know or understand these.. All we need to know are smart keywords that help direct our searches from hundreds of billions of marked-up HTML pages scattered across the global Internet.. When we try to search using regular SQL database search technologies, though, we run into difficulties.. Why? Because most of this web content is in distributed HTML flat files and isn t organized in any centralized database with well defined data structures and schema.. It s like a world full of roads with no roadmaps.. Go discover!.. Search engines like Google, Ask, and others find the content that matches with our queries by building and employing centralized databases that contain metadata, where every keyword acts as a tag and has fast and efficient links to corresponding websites.. In other words, a search engine acts like a very knowledgeable guide for  ...   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.. Free the Data: eGov and Open Standards.. When President Obama appointed his new federal CIO, Vivek Kundra, last week, Kundra announced ambitious plans to democratize federal government data by making it accessible in open formats and in data feeds.. His plan calls for the creation of a single point of access to all public federal information.. The idea is to enable the data to be accessed by developers whose applications will open up federal data to the sunlight of millions of citizens by encouraging them to scrutinize how the Recovery Act s dollars will be spent.. As chief technology officer for the District of Columbia, Kundra raised the bar by making government data more readily accessible to its residents, leveraging pre-existing Web 2.. 0 technologies like Facebook and YouTube.. Federal agencies are now banding together to plan for how they are going to provide this information in an open, standardized manner that enables citizens to efficiently and accurately mine data, make comparisons, and perform analytics across all government sectors.. All this accessible data sounds well and good until you start looking at it from a developer s point of view there is currently little or no uniformity across government agencies for reporting granular federal financial data.. With billions of dollars being funneled in grants, loans, and loan guarantees, there needs to be a standard open format and shared re-usable taxonomy for both applications and reporting.. What Can We Anticipate from Kundra?.. XBRL and Document Management: The Perfect Storm.. How can you turn the U.. SEC eXtensible Business Reporting Language (.. ) mandate s requirements into an opportunity when making process improvements to comply? Implement an XBRL-enhanced document management strategy as part of your internal corporate filing workflow which will both boost compliance and save money.. Strategies for Success.. Document management is based on applying the principles of structured content documents that have been chunked into meaningful component parts and tagged in a systematic fashion.. In the case of the corporate financial reporting process, the structure now being applied to financial content is XBRL, the financial XML standard that promises to transform, and perhaps revolutionize, how companies create and use their financial information to meet business objectives.. With the.. SEC mandating the use of XBRL.. , now is the perfect time to take advantage of these two converging industry best practices.. Its standardized structure makes the application of document management systems possible for the corporate accounting sector, whereas in the past, the lack of structure had hindered the adoption of document management strategies in this domain.. Document management workflows have long been known to speed the delivery of corporate information materials, improve quality and accuracy of content across the global enterprise, increase staff efficiency with content, and reduce publishing costs.. IT departments have been waiting a long time for accounting departments to open up the kimono to document management practices for the sake of improving archiving, content reuse, and data management.. Going forward, successful organizations will apply document management practices to help streamline their corporate reporting processes.. February.. 25th,.. XBRL gets Huffed!.. Twice in one day, XBRL makes it to the mainstream online media in a big way.. First at.. Wired.. and now with a posting by.. W.. David Stephenson.. to.. huffingtonpost.. and now I am truly taken aback at the tsunami that has been unleashed with the.. SEC mandate of XBRL.. and.. Obama's push to leverage technology.. Tomorrow, I have to chair yet another.. XBRL International.. consortium committee meeting - and continue to keep moving the standard forward with my colleagues from around the world on the XBRL International Steering committee - as I watch the.. Twitter chatter about XBRL.. away and try not to get distracted from the chore at hand - ensuring a that the consortium has a strong enough foundation to support all the great implementations around the world.. 23rd,.. The Revolution will be powered by data - Wired gets XBRL.. posted by Diane Mueller.. In an article posted today on Wired.. com, Daniel Roth interviews Phil Moyer of EDGAR-Online and Charlie Hoffman and comes to the realization that XBRL is a radical and innovative technology that changes the game for finanical reporting.. As he aptly notes.. Even the regulators can't keep up.. A Senate study in 2002 found that the SEC had managed to fully review just 16 percent of the nearly 15,000 annual reports that companies submitted in the previous fiscal year; the recently disgraced Enron hadn't been reviewed in a decade.. He points out the obvious - that plowing thru a ~500 page Bear Stearns prospectus isn't for the faint hearted and certainly not conducive to a transparent flow of information to the masses.. The devil is in the detail and the detail has been tagged with XBRL.. Kudos for a great article, which I encourage everyone to read -.. Road Map for Financial Recovery: Radical Transparency Now!.. by wired.. com's.. Senior writer Daniel Roth.. (.. daniel_roth@wired.. Altova brings XBRL to mainstream for XML Developers.. by Diane Mueller.. XML Developers are surely rejoicing with.. Altova's recent announcement of XBRL support.. By adding XBRL functionality into Altova's ever popular suite of development tools of XMLSpy, Mapforce and StyleVision, an army of XML developers will hopefully now be unleashed and eased into developing XBRL-aware applications without having to leave the comfort of their beloved XML tools.. This announcement should help spur further mainstreaming of the XBRL standard.. The timing is right with the US SEC Mandate fast approaching and numerous public companies looking for help to create re-usable corporate filings workflows.. Altova should find a number of eager early adopters of their Mapforce product which will enable developers to easily design and implement automation into document creation workflows.. With Mapforce's graphically mapping capabilities, developers will be able to connect backend data from accounting systems and databases to the XBRL format.. With multiple automation options and royalty-free code generation in MapForce enable the creation of XBRL mappings that can be created once and re-used as needed for quarterly or annual reporting.. XBRL: An attempt to empower amateur analysts?.. In an article on Law360.. com entitled.. XBRL Filings To Become Mandatory This June.. , the author, Jesse Greenspan takes an interesting point of view in saying that the US Securities and Exchange Commission's XBRL initiatives were an attempt to empower amateur analysts.. It's the first time I've ever heard XBRL described in this manner which at first glance might seems to minimize the impact that XBRL is expected to have across the entire Financial Reporting Supply chain.. It would be nice to think that the SEC would spend 59 million dollars to modernize the EDGAR filing system just so amateur analysts could have a field day and uncover the next bubble - but in reality, the SEC is also being self-serving as there is no way that the current system could continue in place without such an XBRL-enhanced modernization effort.. A nice side effect of the SEC's XBRL initiatives is, indeed, empowerment of individual investors and analysts to freely access high quality tagged data that will now be machine-readable.. This should lower the cost and barriers for so-called amateur analysts to come up with their own algorithms and financial models - perhaps landing them on the cover of Fortune magazine - as the article goes on to quote a parther at a respected law firm.. To read the entire Law360 article, click here:.. 12th,.. Canadian move to single National Securities Regulator key to restoring Investor Confidence.. Last week's recommendation from the Expert Panel on Securities Regulation regarding the formation of a national securities regulator for Canada has been a long time coming.. The Expert Panel was led by former federal cabinet minister Thomas Hockin.. About 40 years of prior debate and research preceded this panel's 11 months of deliberations which culminated in a forgone conclusion that a single, national securities regulator would be more efficient and effective than the current 13 provincial securities regulatory organizations.. Today, Canada is the only Group of Seven (G7) member without a single national securities watchdog.. Even with this new recommendation, it is naive to think that the provincial regulators will go quietly into the night; the Expert Panel's recommendation to keep existing staff in place and simply change the reporting lines may appease most provinces during the transition period.. In the coming months, we?ll watch the Obama administration take over the reins on the U.. SEC's 21st Century Disclosure Initiative; the U.. blueprint for a modernized disclosure system based on interactive data, or eXtensible Business Reporting Language (XBRL).. We'll also see the Dutch and Australian governments quietly roll out their own financial data standardization and infrastructure modernization efforts to unify across government information silos.. The time has come for Canada to join the modern era, and a move to a single regulatory body is certainly a step in the right direction and bodes well for the advancement of significant regulatory standards like XBRL.. January.. Will Obama s Technology Push Extend to Financial Regulators?.. Obama's technology-savvy election team worked very effectively to leverage a new world order of YouTube, social networking, and blogging tools to promote his agenda, connect with a nation of voters, and raise campaign funds.. But does he really know what it's going to take to overhaul and connect all the disparate government information systems that the U.. Federal bureaucracy has built up over the past 200 years? He has certainly raised hopes and set expectations high for both the technology and financial sectors.. Obama's Finance Team Appointments: A Great First Step.. Even though SEC Chairman Christopher Cox has been criticized for not paying enough attention to details of the subprime meltdown and other fiascos like the Madoff Ponzi scheme, hopefully his legacy around interactive data (XBRL) and EDGAR modernization will still be preserved.. All signs are good so far.. XBRL Victory! SEC Mandate of XBRL Extends Benefits of Financial Standards.. Securities and Exchange Commission mandate of XBRL is great news! It s a triumph for SEC Chairman Christopher Cox, who played a pivotal role in ensuring the modernization of IT infrastructure of the EDGAR filing system based on XBRL an initiative that may be a his most lasting legacy and a final feather in his cap.. And, of course, the SEC s XBRL mandate is great news for the financial community at large.. XBRL holds the promise of revolutionizing business reporting on a global scale, dramatically improving the relationship between people, processes, accounting standards, and financial information.. How? By ensuring that a company s financial reporting is always an authoritative reflection of the latest version of the truth within the enterprise.. XBRL lets reviewers look at financial data in a highly interactive format that is much more accessible by various line-of-business applications and composite applications.. Documents empowered with XBRL are more richly described and can be consumed much more readily by applications such as risk management, financial analysis, and audit.. December.. 2008.. Is a Lack of Open Source hindering XBRL adoption?.. Within the.. XBRL consortium.. , there is widespread agreement on the importance of developing a wide user base for XBRL content and fostering adoption of the standard.. the inevitable mandate of XBRL s use for.. US SEC filings.. , and the ripple effect that this is having on application development for the financial sector, has sent financial software application developers scrambling to accommodate their client s filing preparation requirements and looking for opportunities for leveraging XBRL metadata on the consumption analytical applications development side of the financial supply chain.. The community needs take advantage of particular moment in the regulatory spotlight and promote wider adoption by making it easier to develop financial applications that leverage XBRL.. The complexity of the.. XBRL 2.. 1 specification.. and the modules that have sprouted up to support it s extended application is definitely a stumbling block for most financial software applications developers to entering this market.. As with any new standards-based endeavor, developers need access to the right enabling technology, development tools and runtime software that can automatically overcome technical issues without passing the burden of deep specification knowledge to the developer.. 29th,.. To Render or Not to Render XBRL.. One of the interesting long running conversations in the XBRL technical community has been the discussion of what the market wants and needs in terms of rendering XBRL content.. For a long time, we debated whether or not XBRL data would ever be rendered.. The main camp on one side of this many-sided conversation held fast to the belief that XBRL data would only ever be transmitted from machine to machine and would never be seen by the human eye.. However, there was a counter-argument that accountants and regulators (who only recently put down their pencils and paper to switch to spreadsheets and keypads), would still have serious trust issues and would at least need to see the XBRL content rendered in order to audit and sign-off on the content before submitting or publishing the data to various stakeholders.. In the end, the trust issue has driven the market and caused the XBRL technical community to scramble and resolve some tricky issues regarding rendering the quite complex and subtle flavor of XML that XBRL has become over the past 10 years.. XBRLSpy for iPhone.. About XBRLSpy.. Diane Mueller is the founder of XBRLSpy Research Inc.. She is an XBRL Evangelist, and a XBRL Implementation Strategist.. Currently serves on the XBRL International Steering Committee and Best Practices Board, and chairs the Technical Working Group on Rendering responsible for the Inline XBRL Specification.. She is a frequent commentator and lecturer on Financial Compliance, XML Standards and Semantic Web technologies.. Contact Us.. Follow Us on.. Subscribe.. XBRLSpy Feed.. E-Mail.. News Feed.. XBRL News.. Vubiz Launches New Course in Advances in Business and Financial Reporting - Virtual-Strategy Magazine (press release).. Colonial Stock Transfer sponsors LD Micro Conference - Virtual-Strategy Magazine (press release).. Govt proposes mandatory automated reporting - The Australian Financial Review.. Companies Say They Find Little Use for XBRL-Formatted Data.. DataTracks Features in MCA Vendor List for XBRL Software Services - DigitalJournal.. com (press release).. Finance Execs Find XBRL Useless - CFO.. com Magazine.. Calcbench Readies Improved User Application for Unveiling Soon.. Chairman Cox discusses Interactive Data.. Windows Media Player.. QuickTime.. Recommended Reading.. XBRL: A Case Study In Complexity.. by Jon Udell, Infoworld.. According to Udell, XBRL is a noble attempt to help expose financial dealings via XML that asks too much of developers.. Metadata, Semantics and All That.. by Tim Bray, tbray.. org.. The value proposition for XBRL is a no-brainer: cost reduction.. The financial industry depends totally on consuming accurate financial information.. XBRL References.. XBRL Overview.. XBRL FAQ Document.. XBRL Consortium.. XBRL Specifications.. Accelerate Compliance with XML Today.. XBRL is a trademark or service mark of XBRL International, Inc.. , registered in the United States and in other countries..

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  • Title: User account | XBRLSpy
    Descriptive info: Log in.. Request new password.. User account.. Username:.. *.. Enter your XBRLSpy username.. Password:.. Enter the password that accompanies your username..

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  • Title: IMA Urges US Senate to Ratify H.R. 2146: The Digital Accountability and Transparency Act (DATA Act) | XBRLSpy
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  • Title: Reply to comment | XBRLSpy
    Descriptive info: Reply to comment.. Reply.. Subject:.. Comment:.. CAPTCHA.. This question is for testing whether you are a human visitor and to prevent automated spam submissions..

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  • Title: Kundra on Recovery.gov move to the Cloud | XBRLSpy
    Descriptive info: gov is the first government-wide system to move to the cloud.. The move is part of the Administration s overall efforts to cut waste and fix or end government programs that don t work.. By migrating to the public cloud, the Recovery Board is in position to leverage many advantages including the ability keep the site up as millions of Americans help report potential fraud, waste, and abuse.. The Board expects savings of about $750,000 during its current budget cycle and significantly more savings in the long-term.. Read full post at..

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  • Title: Financial Modeling in Python | XBRLSpy
    Descriptive info: A good book to get you started understanding how Python is applied to the financial modeling is Financial Modeling in Python by Shayne Fletcher, Christopher Gardner.. Fletcher and Gardner have created a comprehensive resource that will be of interest not only to those working in the field of finance, but also to those using numerical methods in other fields such as engineering, physics, and actuarial mathematics.. By showing how to combine the high-level elegance, accessibility, and flexibility of Python, with the low-level computational efficiency of C++, in the context of interesting financial modeling problems, they have provided an implementation template which will be useful to others seeking to jointly optimize the use of computational and human resources.. They document all the necessary technical details required  ...   to apply numerical methods in the valuation of financial claims.. And then for a deeper dive, Learning Python by Mark Lutz, 4th Edition is a fantastic book and will help you get familiar with the language.. His other book, Programming Python is more application specific.. For a reliable, stable distribution of Python, I d recommend ActiveState s.. ActivePython Business Edition.. and taking a look at the ActiveState repository of recipes.. The key will be learning the SciPy and NumPy libraries.. Try downloading IPython, it s an interactive Python shell - extremely useful for all sorts of reasons.. And one more thing, think about applying some decent style guide when you do start coding like Google s.. StyleGuide for Python.. - because readable code helps everyone!..

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  • Title: New SEC Proposal: Use Python to Enforce Wall Street Transparency | XBRLSpy
    Descriptive info: Credit card master trusts would also be required to use the Waterfall computer program anytime an unplanned event affecting investors occurred.. The SEC chose Python specifically because it is open source and available freely to anyone.. Its status as an interpreted language is also in line with the SEC's rule to keep executable code off of EDGAR for security reasons.. The SEC is not opposed to collaboration between the Waterfall program and other investment software, as long as users disclose, via a separately filed exhibit, the functionality.. linux-magazine.. com/Online/News/SEC-Proposal-Use-Python-to-Enforce-Wall-Street-Transparency)..

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  • Title: XBRL US Announces Entry into Nascent XBRL Market with New Online XBRL Consistency Checker tool suite | XBRLSpy
    Descriptive info: XBRL Consistency Suite will be sold direct to public company preparers but can also be integrated into third party XBRL software and services.. The.. XBRL Consistency Suite costs $4,000 per.. CIK.. Consistency Checks can be integrated with third party software and services and XBRL US Labs is working with leading XBRL providers to integrate XBRL Consistency Checks into their products.. The first of these third party tools is now available for an additional $1,000, and it includes SEC and XBRL validation software with the Consistency Checks in a single tool to maximize ease of use.. There is special pricing available for XBRL US members.. In the over 1,400 XBRL financial statements that have been submitted to date, thousands of errors have been identified, including incorrect use of signs, missing XBRL-tagged elements, and tags that should not have been reported, among others.. The XBRL Consistency Suite (.. http://csuite.. ) performs over 6,000 tests against a company s XBRL document and produces a report that shows taxonomy-specific errors that have been made.. Companies, or their service providers, should run the tool on their XBRL-formatted financials before they submit them to regulators and investors as a final step in the XBRL creation process.. It also includes access to a database of XBRL documents submitted to the SEC, updated regularly.. Subscribers can perform basic analytics on the database to see what concepts are being used by their peers and what extensions are being created by searching on the full set of filings, or searching by industry or company.. Pre-created extensions reflect new accounting standards and industry  ...   Consistency Suite gives companies the tools they need to correct inaccuracies.. Our goal is to help companies and industries establish a common core set of best practices so that investors and regulators get the information they need.. For more information, download a white paper at.. us/research/documents/AvoidingErrorsWhitePaper.. outlining the kinds of common errors that have been identified, visit our web page at.. us/csuite.. and view a demonstration of the XBRL Consistency Suite,.. us/media/csuitedemoshort.. wmv.. XBRL US also conducts in-person training and online webinars geared to help companies increase the efficiencies in XBRL preparation and submission, including detailed footnote tagging.. To learn more, visit.. us/webinars.. for webinars and.. us/training.. for training sessions.. 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, printers and government agencies.. Its mission is to support the implementation of XML business reporting standards through the development of taxonomies for use by US public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through the collaboration of the business reporting supply chain.. XBRL US has developed taxonomies for U.. GAAP and mutual fund reporting under contract with the Securities and Exchange Commission.. XBRL US Labs, the research and development arm of XBRL US, leverages the XBRL US platform, methodologies and people to address the quality of taxonomies and the harmonization of XBRL with other XML standards with the goal of enabling faster XBRL adoption.. Links:..

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