What is XBRL and how does it work?
http://www.xbrl.org/HowXBRLWorks/
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and from-
http://www.oracle.com/us/dm/xbrlextension-354972.html?msgid=3-3856862107
With more than 7,000 new U.S. companies facing extensible business reporting language (XBRL) filing mandates in 2011, Oracle has released a free XBRL extension on top of the latest release of Oracle Database.
Oracle’s XBRL extension leverages Oracle Database 11g Release 2 XML to manage the collection, validation, storage, and analysis of XBRL data. It enables organizations to create one or more back-end XBRL repositories based on Oracle Database, providing secure XBRL storage and query-ability with a set of XBRL-specific services.
In addition, the extension integrates easily with Oracle Business Intelligence Suite Enterprise Edition to provide analytics, plus interactive development environments (IDEs) and design tools for creating and editing XBRL taxonomies.
The Other Side of XBRL
“While the XBRL mandate continues to grow, the feedback we keep hearing from the ‘other side’ of XRBL—regulators, academics, financial analysts, and investors—is that they lack sufficient tools and historic data to leverage the full potential of XBRL,” says John O’Rourke, vice president of product marketing, Oracle.However, O’Rourke says this is quickly changing as XBRL mandates enter their third year—and more and more companies have to comply. While the new extension should be attractive to organizations that produce XBRL filings, O’Rourke expects it will prove particularly valuable to regulators, stock exchanges, universities, and other organizations that need to collect, analyze, and disseminate XBRL-based filings.
Outsourcing, a Bolt-on Solution, or Integrated XBRL Tagging
Until recently, reporting organizations had to choose between expensive third-party outsourcing or manual, in-house tagging with bolt-on solutions— both of which introduce the possibility of error.In response, Oracle launched Oracle Hyperion Disclosure Management, which provides an XBRL tagging solution that is integrated with the financial close and reporting process for fast and reliable XBRL report submission—without relying on third-party providers. The solution enables organizations to
- Author regulatory filings in Microsoft Office and “hot link” them directly to financial reporting systems so they can be easily updated
- Graphically perform XBRL tagging at several levels—within Microsoft Office, within EPM system reports, or in the data source metadata
- Modify or extend XBRL taxonomies before the mapping process, as well as set up multiple taxonomies
- Create and validate final XBRL instance documents before submission
Related Articles
- XBRL – The Global Standard for Electronic Reporting (newswire.ca)
- Basics of XBRL (cleanclouds.wordpress.com)
- How XBRL improves analysis (businessinsider.com)
