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Versioning Panel

John Turner

Campbell Pryde

Maciej Piechocki

…. And YOU!

Know our scope!

• “Versioning” in an XBRL sense is all about taxonomies.

• Instance documents? Meh. Too easy. You are on your own.

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Change comes to us all

• What does versioning mean if you are:– A Corporate Filer?– A Regulator?– An Analyst?– A Taxonomist?– An XBRL vendor?– A reporting vendor?– A data vendor?

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Corporate Filer

• What changed in the accounting literature that I need to take account of in preparing my document?

• What changed in the taxonomy and how does it impact me?

• How do I communicate changes in my extension taxonomy, without impacting comparability?

• How quickly can it be done?4

Regulator

• Have filers updated their disclosures?

• How have filers altered their disclosures, given the changes that have happened?

• Are filers complying with current disclosure law?

• What changes do I need to make to my internal reporting framework so that I don’t lose the time series?

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Analyst

• What’s broken?

• Which companies have become more comparable?

• Which ones are now less comparable?

• Which changes impact my analytics?

• Which changes impact my analytics in a material fashion?

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A Taxonomist

• What do I need to change?

• Why?

• How do I best achieve that, with minimal breakage?

• What do I need to communicate to my community of interest?

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An XBRL Vendor

• How do I use versioning metadata?

• How do I present it to my users?

• How much can I automate without having to ask my users?

• How much do I have to spend to support the versioning strategies employed by taxonomists that use my tools?

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A reporting vendor?

• Can I use this metadata in my own systems? They have NOTHING to do with XBRL whatsoever!

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A Data Vendor?

DON’T CHANGE ANYTHING!!!

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A Data Vendor?

• What has changed in the rules?

• How have they been implemented?

• What concepts have changed for individual companies?

• How do I best protect my investment in my time series?

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Three Things

• What is the same? (Namespaces)

• What has changed?

• How and Why?

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What do we have?

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?

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What do we have?

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✓✓

What do we have?

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✓✓✓✓

We could go on!

• Versioning is a bit of a conundrum – everyone wants something, but we have very limited input into the process.

• XML is no help.• There *are* ways around most aspects of

Versioning via techniques like slipstreaming.

• However, it is very clear that we need a consistent spec, and interoperable tools.

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Since

• We have alternative approaches:– FDIC– APRA– And every other project

• And even an alternative Specification from SBR

• All of which is probably an indication that we’ve not cracked this yet!

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What are the next steps?

• We need your input and your focus on this issue.

• We probably need to re-examine the XII Versioning effort pretty substantially

• This is not *that* hard, but it does take lots of effort, and volunteers are a tough master.

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