Está en la página 1de 12

www.goalgetters.

com

A TGG White Paper


The Goal Getters
1-866-521-GOAL
info@goalgetters.com

XBRL and Oracle | Hyperion


Enterprise Performance Management System

Prepared By: Dean Wilson


Date of Publication: October 2010

1
www.goalgetters.com

Table of Contents
Introduction to XBRL.......................................................................................................3
Additional Resources.......................................................................................................12
Inline XBRL.......................................................................................................................4
Regulatory Compliance.....................................................................................................4
XBRL Benefits...................................................................................................................5
Oracle | Hyperion Solution...............................................................................................5
Today’s Oracle | Hyperion Solution.................................................................................5
Summary and Next Steps..................................................................................................7
XBRL Software Tools........................................................................................................9

2
www.goalgetters.com

Introduction to XBRL
XBRL is a language for the electronic communication of business and financial data
which is changing business reporting around the world. It provides many benefits in the
preparation, analysis and communication of business information and offers opportunities
for cost savings, greater efficiency and improved accuracy and reliability in the use of
business and financial data.

XBRL stands for eXtensible Business Reporting Language. It is one of a family of


eXtensible Markup Language (XML) languages which is becoming a standard means of
communicating information both between businesses and on the internet.1

XML is an open standards set of rules for creating structured documents electronically.
The design goals of XML are to emphasize simplicity, generality, and usability over the
Internet.2 Beginning in 1996, XML was compiled by a working group of eleven
members including representatives from Sun Microsystems, Textuality, Netscape,
Microsoft, University of Illinois, World Wide Web Consortium (W3C), Texcel, INSO,
HP, ISOGEN, ArborText, NCSA, Muzmo and Grif, Fuji Xerox Information Systems,
Adobe, Vignette, SoftQuad, DataChannel) 3

XBRL began in 1998, and continues to be developed by XBRL International, an


international non-profit consortium of approximately 450 major companies, organizations
and government agencies (including Oracle | Hyperion, Sun Microsystems, Canadian
Institute of Chartered Accountants, HP, Microsoft). It also is an open standard and free
of license fees. XBRL is already being put to practical use in a number of countries and
implementations are growing rapidly around the world.

A key component in the development of XML came in 2001, when Hyperion and
Microsoft published the XML for Analysis specification, allowing open access to
multidimensional databases from any platform.

XBRL has been developed with a view to becoming the standard information format for
expressing business information. XBRL tags data with standardized descriptions (e.g.
revenue, inventory, cash) that enable that information to be used with many systems for a
wide range purposes. These standard codes can be obtained from a taxonomy, or
inventory of available tags with common definitions. Each reporting jurisdiction will
devise its own taxonomy to reflect specific reporting applications and regional
accounting standards (i.e. IFRS, US GAAP, Canadian GAAP). Logically, there is a limit
to which standards can be achieved, so preparers may need to resort to extensions, or
custom tags, to capture the unique aspects of their industry or type of business. The
result is that data is entered only once and then understood consistently and accurately
thereafter.

3
www.goalgetters.com

Inline XBRL
Inline XBRL (iXBRL) is a standard for embedding XBRL fragments into an HTML
document. It was created to avoid the need to create visual renderings of XBRL instance
documents. The objective is to provide documents which can be viewed in a browser
while making use of XBRL tags which can be processed automatically by consuming
applications. Inline XBRL satisfies the need to work in a "human readable" document
while utilizing the "computer readable" XBRL standard.4

In April 2010, the Inline XBRL (Rendering) Specification was approved as a


recommendation by the XBRL International Standards Board and the International
Steering Committee.

Regulatory Compliance
In 2005, the US Securities and Exchange Commission (SEC) launched its XBRL
Voluntary Filing Program. Approximately fifty companies, representing more than $1
trillion of market value, have joined the SEC's test group and have agreed to voluntarily
submit reports.5

In early 2007, the Canadian Securities Administrators (CSA) launched an XBRL


voluntary filing program. Reporting issuers participating in the voluntary program were
able to file financial statements in XBRL format beginning in May 2007.6 The results of
the voluntary program will be used to gain practical knowledge and experience with
XBRL and will help in learning both the functionality and challenges involved in using
XBRL filings. After gaining knowledge and experience through the voluntary program,
further decisions regarding mandatory XBRL filings will be made.7

In December 2008, the SEC mandated XBRL’s use by large public companies and
mutual funds for reporting financial statements beginning in July 2009, and all public
companies must comply by June 2011.

The FDIC and European Union Central Banks, with Basel II (standards for minimum
capital requirements for banking organizations), have committed to an XBRL reporting
standard.8

Other regulators around the world, including the Australian Taxation Office, Chinese
Securities Regulation Commission, Dutch Tax Authority, UK Financial Services
Authority and Bank of Japan are also adopting XBRL-enabled processes and systems to
collect, aggregate, validate and use information.

4
www.goalgetters.com

XBRL Benefits
The benefits of adopting an XBRL reporting process versus current reporting practices
are:
 Reduced preparation time and cost through automated data collection.
 Increased confidence in data by limiting the risk of erroneous data entry.
 Enhanced analytical capabilities.
 Accelerated financial decision making.
 Broader information availability.
 Adaptability to changing reporting requirements.
 Increased transparency.

Oracle | Hyperion Solution


Oracle’s Hyperion EPM applications have long supported XBRL as a basic output format
via Oracle’s Hyperion Financial Reporting (HFR). HFR offers XBRL Manager - a
feature that uses XBRL to convert data into a standard format that can be read and
processed automatically by a wide range of financial software. Currently, HFR does not
provide rich validation capabilities.

Features of HFR XBRL Manager:


 Download XBRL taxonomies directly into HFR.
 Update and manage XBRL schemas.
 Define XBRL contexts and units for a report.
 Export reports as instance documents, by attaching XBRL metadata.
 Create instance documents using HFM, Hyperion Planning, or Essbase data sources.

Today’s Oracle | Hyperion Solution


In April 2010, Oracle | Hyperion Disclosure Management (DM) was released. DM is a
complete XBRL creation and management solution, built on UBmatrix technology, and
“demystifies” the creation of XBRL documents and features deep integration with the
Enterprise Performance Management (EPM) System including Hyperion Financial
Reporting (HFR), Hyperion Financial Management (HFM) or Hyperion Planning (HP).
UBmatrix Inc. is the leading provider of XBRL-based software solutions for global
organizations and enterprises. The UBmatrix technology helps to provide a much deeper
level of XBRL functionality.

DM allows organizations to centralize and effectively manage the development of XBRL


submissions now required by many regulatory bodies. DM enables users to graphically

5
www.goalgetters.com

perform XBRL tagging at several levels – within Microsoft Office, within EPM System
reports or in the datasource metadata. The solution lets users modify or extend
taxonomies before the mapping process as well as support multiple taxonomies. XBRL
instance documents can also be created and validated before submission.

DM features include:
• A taxonomy extension and management tool for customizing taxonomies.
• The ability to load and map any XBRL taxonomy.
• An XBRL validation tool that will check the XBRL calculations against the
calculations from Oracle’s EPM applications and identify any errors.
• A drag and drop feature for tagging new accounts.
• Tagging at the application metadata level or report level. When XBRL tags are
created at the metadata level (i.e. application account level) the tags become
automatically available in any new report.

DM's common foundation and tight integration with the Oracle EPM system reduces the
total cost of ownership by providing a single point of maintenance - a unique feature that
point solutions and non-integrated EPM suites cannot match.

Oracle | Hyperion Disclosure Management Screen Shot:

6
www.goalgetters.com

For a full listing of software tools provided by XBRL International and other sources for
instance document creation, taxonomy creation and XBRL Validation, see the Table
“XBRL Software Tools” at the end of this document.

Summary and Next Steps


In summary, XBRL provides many benefits to an organization in the preparation,
analysis and communication of business information. It also offers opportunities for cost
savings, greater efficiency and improved accuracy and reliability in the use of business
and financial data.

For those organizations wishing to explore XBRL further, here are the suggested next
steps:

 Investigate your performance management, financial and ERP software applications


to find out if they support XBRL.
 Contact those software application vendors to see what their plans are for future
versions regarding XBRL support.

7
www.goalgetters.com

 Solicit input and survey internal business processes in order to identify potential
business reporting areas that may benefit from XBRL.
 Solicit input and survey external processes and key partners requirements.
 Consider pilot programs for XBRL enabling key internal processes.
 Keep up to date on the latest XBRL developments.

TGG’s Project Methodology - The Solution Workbench - contains templates and tools to
address our client’s XBRL requirements.

To learn more about XBRL, and how TGG can help you meet your XBRL needs, contact
Dean Wilson at dean@goalgetters.com.

8
www.goalgetters.com

XBRL Software Tools


Instance Taxonomy XBRL Oracle | Hyperion Notes
Document Creation Validation
Creation
Allocation Solutions - -
DataXchanger
allocationsolutions.com
Altova - MissionKit Supports Oracle DB
altova.com
CaseWare International - Directly import from
Working Papers accounting and trial
caseware.com balance packages and
ASCII files.
Clarity – FSR Ability to pull data from a
claritysystems.com wide variety of data
sources including: ERP
systems, financial
consolidation applications,
relational databases, and
OLAP databases
CompSci Resources, - -
Interactive Converter,
Forms and Analysis
compsciresources.com
CoreFiling – Seahorse, -
SpiderMonkey,
Touchstone, True North,
Yeti
corefiling.com
DynAccSys - Xabra Tools Supports data from
xabratools.com multiple sources - primary
enterprise systems,
databases or spreadsheets.
Ez-XBRL Supports multiple input
ez-xbrl.com formats (including Word,
Excel, PDF, HTML and
ASCII)
Fujitsu (Interstage Can be used with other
XWand) common databases and
fujitsu.com Systems.

9
www.goalgetters.com

Hitachi Systems and -


Services (XiRUTE)
hitachi-
system.co.jp/xirute/e/
Microsoft - FRx Compatible with various
www.microsoft.com/dyna systems and databases.
mics/en/us/products/frx.as
px
NeoClarus - suite of Oracle is a Technology
applications Partner. Extracts financial
neoclarus.com data from any source
(Oracle, SAP, Excel)
Oracle | Hyperion Fully compatible with
Disclosure Management Oracle | Hyperion EPM
oracle.com/us/solutions/e
nt-performance-
bi/051190.html
Reporting Standard S.L. - -
XBRL Tools
reportingstandard.com
Rivet Software – Crossfire Supports information from
rivetsoftware.com Interactive Data filings,
ERP systems, data
warehouses, and
traditional financial data
feeds
Savanet - Product Suite of -
tools (Reader, Analyst,
Intaglio)
savanet.net
Semansys Technologies – Can be used with various
suite of solutions business systems.
(xbrlOne, XBRL Reporter,
Taxonomy Viewer)
semansys.com
Trintech - Unity XFR Ability to import financial
trintech.com statement data from an
external system of record
Snappy Reports Excel, HTML or data
snappyreports.com from an accounting or
financial system.

10
www.goalgetters.com

XBRL Cloud (Formerly -


Coyote Reporting) -
XBRL Cloud
xbrlcloud.com
UBmatrix - Processing Fully compatible with
Engine, Enterprise Oracle | Hyperion EPM
Application Suite,
Database Adaptor, Report
Builder, Taxonomy
Designer
ubmatrix.com

11
1

Additional Resources
What is XBRL?, http://www.xbrl.ca/index.php?option=com_content&view=article&id=50&
Itemid=57&lang=en
2
XML 1.0 Origin and Goals. http://www.w3.org/TR/REC-xml/#sec-origin-goals.
3
XML Recommendation, at http://www.w3.org/TR/1998/REC-xml-19980210.
4
Inline XBRL Approved as a Recommendation by XBRL International, at
http://xbrl.us/News/Pages/archive/20100527update.aspx#d1.
5
Who’s filing with SEC now?, http://www.tryxbrl.com/Learn/XBRLFAQ/tabid/56/Default.aspx
6
Canada’s securities regulators launch eXtensible Business Reporting Language (XBRL) voluntary filing program,
http://www.osc.gov.on.ca/Media/ NewsReleases/2007/nr_20070119_csa-xbrl-launch.jsp
7
XBRL in Canada's Capital Markets, David Wilson, Chair, Ontario Securities Commission, 2007.
8
Corporate Backgrounder, UBmatrix, Inc.