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					Welcome to
the Investor Services and
College & University Business Libraries (CUBL)
Sections of SLA Business & Finance Joint Program

Speakers:
Rita Ormsby and Louise Klusek, The William & Anita Newman Library,
Baruch College, CUNY

and

Courtney Cowgill, Chief Financial Officer and Corporate Treasurer of
Oceanic Exploration Company




Sponsored by Ebsco Information Services and InfoCurrent

June 5, 2007 Denver Colorado
          What is XBRL?
           XBRL이란?
         XBRL, c'est quoi?
          Wat is XBRL?
       ¿QUÉ ES XBRL?
          Vad är XBRL?

is a question being asked around the world
Baruch’s Center for Corporate Integrity has
  sponsored several sessions on XBRL
Slides from recent XBRL conference at the
    University of Kansas are available
XBRL and Financial
Reporting
SLA
Investment Services Section
College & University Business Libraries
(CUBL) Section
June 5, 2007
Today’s Overview

   What is XBRL?
   The SEC and XBRL
   XBRL in Use
   The Future
What is XBRL?

   eXtensible Business Reporting
    Language
   Metadata for financial statements
   Based on approved taxonomies
Using XBRL Data

   View and manipulate
    – Ask “what if” questions
    – Construct graphs
    – Compare companies against peers
    – View information in any language
    – Change currency
    – View under different accounting
      conventions
XBRL International
   Consortium of over 2000 accounting firms,
    corporations, government entities, academic
    institutions
   Facilitated by American Institute of Public
    Accountants
   Promotes the development and use of XBRL
SEC’s Standard Setting

   $ 54 Million to improve EDGAR
   Complete taxonomies for all industries
    by September 2007
   Build improved analytical tools
   Mandate filing with XBRL
The SEC Program Today

   Voluntary XBRL Filing Program
    – originally 17, now 30 companies
   Executive compensation data tagged
    – beginning 2Q, 2007
SEC Voluntary Filing
Program
   3M Company                        Fastenal Co.
    Anadarko Petroleum                 Ford Motor Company
    Automatic Data Processing          Ford Motor Credit Company
    Altria Group, Inc.                 General Electric Company
    Bowne & Co. Inc.                   Gol Intelligent Airlines, Inc.
    Brazilian Petroleum Corp.          Infosys Technologies
    Bristol-Myers Squibb               Microsoft Corporation
    Comcast Corporation                Old Mutual Capital, Inc.
    Commonwealth Edison                PECO Energy Company
    Crystal International Travel       PepsiCo, Inc.
          Group, Inc.                  Pfizer, Inc.
    The Dow Chemical                   R.R. Donnelley & Sons
          Company                      South Financial Group, Inc.
    EDGAR Online Inc.                  United Technologies
    Exelon Corporation                 Xerox Corporation
    Exelon Generation Co               XM Satellite Radio Holdings
SEC Financial Report
Viewer
The FFIEC Program

   FFIEC requires quarterly Call Reports
    filed in XBRL (October 2005)
   Over 8,200 banks report to Central
    Data Depository at
    www.FFIEC.gov/FIND/
   Validation and accuracy improved
Investment Company
Institute
    XBRL taxonomy for Risk/Return
     Summary (N-1A) (released January 2007)
    Proposal to join the SEC’s voluntary
     filing program (submitted March 2007)
XBRL Around the World
   Taxonomy Development
    – US GAAP
    – IFRS (International Financial Reporting
      Standards)
    – COREP (Common Reporting)
    – National “GAAP”
      Complete in Japan, Germany, Korea & Sweden;
       Under development in Canada, China, Ireland,
       New Zealand, Spain, Thailand & UK
Canadian Securities
Administrators
   Voluntary filing program to start May
    2007
   Uses Canadian GAAP taxonomy
   XBRL Canada Blog at
    http://www.zorba.ca/xbrlblog.html
XBRL Pilot Programs

  Japan FSA & Tokyo Stock Exchange
      Full financial statements for all listed
       companies in 2008
  National Bank of Belgium
      Commerical & industrial companies to
       file beginning April 2007
  Shanghai Stock Exchange
Other XBRL Users

   EDGAR Online I-Metrix
   “XBRL for Earnings Releases”
   Sustainability Reports – GRI – G3
   Tax Returns – UK-HMRC and Dutch
    Tax Authority
   CEBS Basel II Reporting
The Future

   Change in marketplace for SEC based
    fundamental data
   More accurate, broader, more effective
    and less expensive research coverage
               Gartner, September 28, 2006
Steps for Librarians

   Keep abreast of SEC moves
   Test free SEC tools
   Talk to your data vendors
Thank You
Louise Klusek, Assistant Professor,
Newman Library, Baruch College, City
University of New York
Louise_klusek@baruch.cuny.edu