Metadata language for online identification: an XBRL international project

This paper sets out to describe how the XBRL-GDI project (eXtensible Business Reporting Language – General Data of Identification), has responded to a need for the online identification of persons and entities of all types, in a pre-existing environment characterised by the heterogeneity of systems and channels of communication. The democratic structure of the GDI Working Group, together with the intensive use of technological means of communication between members, has enabled the project to be successfully completed. The increasing utilisation of XBRL in various administrative and business fields, including at high levels, serves as an endorsement of the XBRL-GDI project.

Enrique Bonsón-Ponte, University of Huelva
Tomás Escobar Rodríguez, University of Huelva
Francisco Flores Muñoz, University of Huelva
July 2008

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XBRL: Overcoming the Skepticism of Global Regulators

According to XBRL International, XBRL (eXtensible Business Reporting Language) is a technology that supports the representation, use, and transmission of business information from companies to their different regulatory bodies and to end users of these data. This process has implications for information professionals and the companies that supply them with corporate financial data. The so-called markup or metadata languages have generated great interest among academicians and practitioners involved with online information exchange systems. In a business environment, users who are going to exchange information meet and define a taxonomy. The technical advantages of XBRL have been well-received by organizations that until now have been managing their business information by more rudimentary methods. Due to these efforts, and despite initials skepticism, many XBRL projects have been conducted with success. As many projects properly end, the next step is to start working in new reporting frameworks.

Enrique Bonsón-Ponte, University of Huelva
Tomás Escobar Rodríguez, University of Huelva
Francisco Flores Muñoz, University of Huelva
April 2008

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XBRL, el lenguaje para el nuevo Plan General Contable

La tendencia a la eliminación del papel en todos los parámetros empresariales dio lugar a la aparición de XBRL, un lenguaje que permite el intercambio electrónico de informaicón contable y financiera que han de realizar las empresas. Sus ventajas se extienden eficazmente tanto a las grandes empresas como a las PYMES.

Magdalena LLano Huidobro, FUNDETEC
Marzo 2008

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XBRL: LA UTILIDAD DE UN ESTÁNDAR

Seguramente no habrán oído hablar hasta hoy de algo tan extraño como XBRL. Si damos a conocer el significado de estas siglas el panorama no mejora mucho: eXtensible Business Reporting Language. Sucintamente, se trata de un lenguaje estándar para transmitir información económico-financiera, basado en XML pero con reglas y herramientas de desarrollo y validación propias.

José Meléndez Pineda, Colegio de Registradores
Febrero 2008

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Sub-Optimality of Income Statement-Based Methods for Measuring Operational Risk under Basel II:

The New Basel Capital Accord (Basel II) was created with the intention of establishing a framework in which financial entities can manage their risks in a more detailed and efficient way. Within this general reform movement, Operational Risk emerges as a fundamental variable. OR can be managed by three alternative methods: the Basic Indicator Approach, Standard Approach and Advanced Measurement Approach. The choice of which method to adopt has become of supreme interest for senior banking managers. This study analyzes the exactitude of the underlying implicit hypotheses that support each method, distinguishing between income statement based methods and the management accounting based method. In the present study the non-optimum character of the two Income Statement-based methods is empirically confirmed, in the light of the data provided by Spanish financial entities.

Enrique Bonsón-Ponte, University of Huelva
Tomás Escobar Rodríguez, University of Huelva
Francisco Flores Muñoz, University of Huelva
November 2007

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Analysis of XBRL documents representing financial statements using Semantic Web Technologies

This paper presents an approach to analyze XBRL documents using semantic web technologies. The system takes an XBRL document and converts its information into RDF files. The obtained files are merged with an OWL ontology describing financial information domain. The system enables the formulation of SPARQL queries over the generated data which facilitate the analysis of the financial information. Currently the system has been applied to the XBRL reports generated by the Spanish Securities Commission.

Sheila Méndez Núñez, University of Oviedo
Jose Emilio Labra Gayo, University of Oviedo
Javier de Andrés Suárez, University of Oviedo
Patricia Ordóñez de Pablos, University of Oviedo
October 2007

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The role of metadata language implementation in the European banking supervision network

The mark-up language eXtensible Business Reporting Language (XBRL) has been chosen by the Committee on European Banking Supervision (CEBS), which reports to the European Central Bank (ECB), as the medium of communication between financial entities and national supervisory authorities, after considering the special features involved in the functioning of the network comprising these entities. This system of communication makes it possible for the various national authorities to collaborate in promoting the stability and solvency of the financial system at the European level. The construction of the new system has involved a collaborative framework in which both the operating practices and the highest-level standards are becoming uniform, making XBRL an element that is actively stimulating cooperation between entities that work in this network. The present study reviews the explicit benefits of the incorporation of this type of technology in such networks, and how the fact that the incorporation of technology implies consensus is enabling these networks to evolve into more cooperative groupings, and to increase their visibility.

Enrique Bonsón-Ponte, University of Huelva
Tomás Escobar Rodríguez, University of Huelva
Francisco Flores Muñoz, Universityd of Huelva
September 2007

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XBRL como nuevo lenguaje para la comunicación de las cuentas públicas

El lenguaje de marcas eXtensible Business Reporting Language (XBRL) está siendo utilizado en la actualidad como medio de comunicación eficiente por parte de diferentes organismos reguladores, como es el caso de Banco de España, Comisión Nacional del Mercado de Valores, Instituto de Contabilidad y Auditoría de Cuentas y Registradores de España, entre otros. Ahora, a raíz de la apuesta de la Intervención General de la Administración del Estado (IGAE) por la utilización de este nuevo estándar para expresar la información contable según las nuevas Instrucciones de Contabilidad de las Entidades Locales (Órdenes), la Cámara de Cuentas de Andalucía, en colaboración con la Universidad de Huelva, desarrollará un proyecto que extiende dicho esfuerzo previo, utilizando XBRL para expresar la información anterior a la entrada en vigor de la nueva normativa contable pública. El objetivo, facilitar al ciudadano información de calidad en el formato que posee óptimas ventajas tecnológicas.

José Luis Valdés Díaz, Cámara de Cuentas de Andalucía
Encarnación Villegas Periñán, Cámara de Cuentas de Andalucía
Tomás Escobar Rodríguez, Universidad de Huelva
Francisco Flores Muñoz, Universidad de Huelva
2007

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New Technical and Normative Challenges for XBRL: Multidimensionality in the COREP Taxonomy

The New Basel Capital Agreement, known as Basel II, requires some notable changes in the systems of measurement and control of risks of credit entities and investment firms. It introduces new concepts and requirements. The systems of risk management to which the Framework or Agreement makes reference can be implemented in various degrees of sophistication. By measuring the different exposures to risk with greater accuracy, a more advanced system offers such firms and entities the prospect of needing less own funds and using increased financial leverage over secure bases. The national Supervisors, in the various central banks, must approve the systems and instruments established. The new reporting tool that is destined to fulfil this function, for the moment in the context of the European Union only, is the COREP-XBRL Taxonomy. This is based on the mark-up language of the business world, the eXtensible Business Reporting Language, and makes use of the concept of Multidimensionality. This concept is being incorporated into the XBRL specification currently in force, since it is necessary for the structure of the new reporting model that is required.

Ignacio Boixo, XBRL Spain
Francisco Flores, University of Huelva
May 2005

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CORRESPONDENCIAS ENTRE TAXONOMÍAS XBRL Y ONTOLOGÍAS EN OWL

Todo documento XBRL contiene cierta información semántica que se representa mediante XML Schema y Xlink. Sin embargo estos mecanismos no fueron creados con el objetivo de dar cuenta de información de este tipo. Por ello pueden plantearse correspondencias entre taxonomías XBRL y ontologías de conceptos en OWL.

Unai Aguilera, Universidad de Deusto
Joseba Abaitua, EmergiaTech

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HACIA UN XBRL SEMÁNTICO

Este artículo analiza las ventajas de dotar de una o varias capas semánticas a la información financiera representada mediante taxonomías en XBRL, con las que se aportarían mayor capacidad de razonamiento y de cobertura conceptual. Se muestran ejemplos sencillos de servicios webbancarios que la semántica haría posibles.

Jorge García, Universidad de Deusto
Unai Aguilera, Universidad de Deusto
Joseba Abaitua, EmergiaTech

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XBRL, UN LENGUAJE PARA EL INTERCAMBIO DE INFORMACIÓN FINANCIERA

XBRL como sistema de conexión entre oferentes y demandantes de información.
La conexión de los avances informáticos y de las telecomunicaciones registrados en la última década del siglo pasado significó un crecimiento exponencial en las capacidades de generación, difusión y mantenimiento de información.

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XBRL: un idioma financiero universal

La información financiera está desarrollando su lingua franca particular, el XBRL, un lenguaje único en el que los datos significan lo mismo en cualquier idioma, en cualquier ordenador, para cualquier persona. El Banco de España es uno de sus principales valedores.

Federico Flórez, Director de Sistemas de Información del Banco de España

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