Proprietary and Confidential© 2005 EDGAR Online, Inc. All rights reserved.

Global Financial Reporting….

Advancing Data Sharing Architecture with….

Extensible Business Reporting Language (XBRL)

Presented by: Liv Watson, EDGAR Online Inc Vice President of Global Strategy

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Agenda

XBRL International

Adoption

Q & A

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Countries seeking convergence with the IASB on pursuing adoption of IFRSs

Countries that require or permit IFRSs

UKCA

SPUS

AU

NZ

IR

JPKR

BE

VZ

CO

BR

AR

PT

RU

SG

HK

NOSE

PL

FI

IT

CN

IN

LB

CZ

UA

LUIASB

UAE

NL

TR

GR

MTCH

FR

SI

HU

AT

Established Jurisdictions

Provisional Jurisdictions

in Construction & in Project

DE

DK

ZA

XBRL …. the World is getting smaller.

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XBRL International Governance

AUPaul Phenix

CABill Swirsky

DE

IASBKurt Ramin

IRConor O’Kelly

JPNobuyuki Sambuichi

NLJan Pasmooji

BELuc Dufresne

SPFederico Florez

UKChris Rodgers

USDan Roberts

Makoto KoizumiWalter Hamscher

John Turner

Arlene Thomas

Mike Willis

At Large Representatives (9)

Established Jurisdiction Representatives (12)

ISC Representatives

NZ DK FR PL SA

Provisional Jurisdictions

International Steering Committee Chair

Kurt Ramin1st Vice Chair

Bill Swirsky

2nd Vice ChairMichael Ohata

Immediate Past ISC ChairVacant

ISC Members

Federico FlorezNobuyuki Sanbuichi

Executive Committee(7 members)

Mike Bartell Liv Watson

SE

KRYong Moon Lee

UAE

•Thomas Krantz, Chairman, WFE, France•Jose Maria Roldan, Bank of Spain•Don Nicolaisen,former chief accountant at the US SEC•Colleen Cunningham, President and CEO of FEI•Guy Weyns, Morgan Stanley •Eiichi Watanabe, Tokyo Shoko Research, Japan•Manoj Vaish, Dun & Bradstreet, India•James Fallows, Atlantic Monthly’s National Correspondent

Board of Advisors

Tom ChurchMichael Ohata

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BusinessOperationsProcessesProcesses

Internal Financial Reporting

ParticipantsAuditorsTrading

Partners

InvestorsFinancial

Publishers and DataAggregators

Regulators

Software Vendors

ManagementAccountants

Entities(Pubic Companies, SMEs, Public Sector)

CentralBanks

ExternalFinancialReporting

Economic Policymaking

Investment,Lending,

Regulation

Global Business Reporting Supply Chain

XBRL Taxonomies and Extension Taxonomies

(statistics, central banks, tax, others)

XBRL GLJournal Taxonomies

XBRLGAAP Taxonomies,IFRS-GP, US-GAAP,

etc.

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ERP

“In-house”

Accounting

Documents Other Sources

Spreadsheets

PrintedFinancials

RegulatoryFilings

InternalReports

Analytics

Web sites

Investors

Creditors

Analysts

Regulators

ManagementXBRL

XBRL

XBRL

XBRL

XBRL Usage and Impact on StokeholdsXBRL Usage and Impact on Stokeholds

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Standardization PresentationCash & Cash Equivalents

Validation

What is so different about XBRL?

LabelLabelCash Equivalents And Short Term Investments

XBRLItemXMLItemXBRLXBRLItemItem

<200><200>

PresentationPresentationComptant et Comptant

Equivalents

ReferencesReferencesGAAP I.2.(a)Instructions

Ad Hoc disclosures

CalculationCalculationCash = Currency +

Deposits

ContextsContextsUS $

FY2004Budgeted

FormulasFormulasCash ≥ 0

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Taxonomy, Data & Instances

<CurrentAssets contextRef="End_2004" unitRef="EUR">

5329000000 </CurrentAssets>

UnitContext

<CurrentAssets> 5329000000 </CurrentAssets>

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TaxonomyReference Linkbase

PropertyPlantAndEquipment

IAS 1 68 a

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XBRL in EuropeXBRL in Europe

Projects, users and…Projects, users and…

Proprietary and Confidential© 2005 EDGAR Online, Inc. All rights reserved.

EstablishedEstablished

IrelandIreland

GermanyGermany

SpainSpain

The NetherlandsThe Netherlands

United KingdomUnited Kingdom

ProvisionalProvisional

SwedenSweden

BelgiumBelgium

DenmarkDenmark

FranceFrance

In constructionIn construction

Czech RepublicCzech Republic

Finland Finland

ItalyItaly

NorwayNorway

Poland Poland

Portugal Portugal

In projectIn project

Slovenia, Austria, Greece, Slovenia, Austria, Greece,

Luxemburg, MaltaLuxemburg, Malta

XBRL in EuropeXBRL in EuropeJurisdictionsJurisdictions

HungaryHungary

14http://www.c-ebs.org/Consultation_papers/consultationpapers.htm

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NationalUK Inland Revenue

UK Financial Services Authority

UK Companies House

Datev/Bundesbank

Danish Commerce & Companies (DCCA)

Bank of Spain

Bank of Belgium – Balance sheet office

Belgian Banking supervisors

Dutch Water Boards

Dutch Statistics agency (CBS)

Dutch government

Pan-europeanXBRL in Europe – FP6

ICISA (CRAS group)

Eurostat (feasability study)

IASB

CEBS – COREP (Basel II)

XBRL projects in EuropeXBRL projects in Europe

30+ projects !

30+ projects !

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SEC Pushes for “Interactive Data” for Consumers

Cox wants more open information access vs. more rules• If investors have the data the markets will self regulate

• Main purpose is to enable benchmarking

XBRL filing of US financial results is encouraged but not required• Only nine US companies file XBRL

• Europe is ahead

SEC sees benefit for consumers

“The objective is to make it easier for ordinary investors, consumers, to make better financial decisions”

Christopher Cox, Source : WSJ Europe, 3/22/06

“Think how much better life will be when you can not only rely on the accuracy of the numbers, but you can slice 'em and dice 'em exactly as you please”

XBRL : From IT Integration to Business Value

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SEC - Ripe for Reform I

May 6, 1996.

Jan. 1, 1998

Phase-in to Mandated Electronic Filing:

Announced that all domestic registrants whose filings are

subject to its review to remind them that the phase-in to

mandated electronic filing on the Commission's ("EDGAR")

system will be complete.

EDGAR Modernization Rules Proposed:SEC to accept filings

submitted to EDGAR in HTML as well as documents

submitted in the ASCII format.

Effective date: May 30, 2000

HTML File Format and Unofficial PDF copies

Mar. 10, 1999

SEC To Refuse Paper Documents in Place of Required Electronic Filings:SEC will not accept filings made in paper that should have been filed electronically. (Effective date: Jan. 1, 1998)

The SEC began developing an

electronic disclosure system.

Pilot Program: The pilot system was opened

for volunteers filing

ASCII File Format

May 6, 1983.

Fall of 1984

July 15, 1992Operational EDGAR system was made available: on a voluntary basis

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SEC - Ripe for Reform II

July 22, 2004

Sept. 27, 2005

Assess Benefits of Tagged Data:

SEC Announces Initiative to Assess Benefits of

Tagged Data in Commission Filings

www.sec.gov/spotlight/xbrl.htm

Concept Release:SEC request Comments on Enhancing Commission Filings Through the Use of Tagged Data (Concept Release No. 33-8497)

28 comment letters relating

Sept. 27, 2004

Sept. 27, 2004

Proposed Rule Release:SEC request comment on proposed rule for the XBRL Voluntary Financial Reporting Program on the EDGAR System (Proposed Rule Release No. 33-8496)

SEC’s Public Announcement: SEC Proposes Rule to Establish Voluntary Program for Reporting Financial Information on EDGAR Using XBRL (Press Release No. 2004-138)

Feb. 3, 2005

Release of Final Rule:XBRL Voluntary Financial Reporting

Program on the EDGAR System (Final Rule Release No. 33-8529)

Effective May 4, 2005 Feb. 3, 2005

SEC’s Public Announcement:SEC Adopts Rule Establishing a Voluntary Program for Reporting Financial Information on EDGAR Using XBRL (Press Release No. 2005-12; February 3, 2005)

March 16, 2005 as the effective date

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Sept. 25, 06 - Press Releases –“SEC to Rebuild public Disclosure System to make it “Interactive”

Washington, D.C., Sept. 25, 2006 - U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities.

The contracts are: • Modernize and Maintain

the EDGAR Database to Use Interactive Data — $48 million

• Complete XBRL Code Writing for U.S. GAAP Financial Statements — $5.5 million

• Interactive Data Tools for Investors — $500,000

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- Press Releases –“XBRL US TO BECOME INDEPENDENT ORGANIZATION”

NEW YORK (September 25, 2006) – The American Institute of Certified Public Accountants today announced that XBRL US will become an independent, not-for-profit organization. Initially formed as a volunteer committee of the AICPA, the new entity will continue as the chartered U.S. jurisdiction of XBRL International.

Sept. 25, 06

As a self-sustaining entity, XBRL US, Inc. will continue to fulfill two goals:

1. To support the implementation of Extensible Business Reporting Language (XBRL) in the United States through the development of taxonomies for use by both the public and private sectors;

2. To promote adoption of XBRL through educational materials and events.

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Corporate Value PropositionIntegrate Internal and External Financial Data

Unique new benchmarking capabilities • Competitive, peer and ad hoc

• Integrating data from Edgar Online

Clear value in M&A scenario analysis

Builds on early leadership in XBRL publication• Introduced with Cartesis ES Magnitude

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But where are we in the life But where are we in the life cycle?cycle?

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Liv A. WatsonLiv A. Watson

Vice President of Global Strategies Vice-Chair: XBRL US, Inc.

Chair: XBRL US Adoption Group

Chair: XBRL International Jurisdiction Development Committee

XBRL International Steering Committee Member

E-mail: lwatson@edgar-online.com

Phone: (203) 852-5703

Thank you!Thank you!Presented by:

XBRL —  Why Should the CFO Care?