Welcome to the Investor Services and College

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Welcome to the Investor Services and College
University Business Libraries (CUBL) Sections
of SLA Business Finance Joint
ProgramSpeakersRita Ormsby and Louise Klusek,
The William Anita Newman Library,Baruch
College, CUNYand Courtney Cowgill, Chief
Financial Officer and Corporate Treasurer of
Oceanic Exploration Company Sponsored by
Ebsco Information Services and
InfoCurrentJune 5, 2007 Denver Colorado

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What is XBRL? XBRL??? XBRL, c'est quoi? Wat
is XBRL? QUÉ ES XBRL?  Vad är XBRL? is
a question being asked around the world

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Baruchs Center for Corporate Integrity has
sponsored several sessions on XBRL
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Slides from recent XBRL conference at the
University of Kansas are available
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(No Transcript)
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XBRL and Financial Reporting

• SLA
• Investment Services Section
• College University Business Libraries (CUBL)
  Section
• June 5, 2007

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Todays Overview

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

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What is XBRL?

• eXtensible Business Reporting Language
• Metadata for financial statements
• Based on approved taxonomies

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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

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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

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SECs Standard Setting

• 54 Million to improve EDGAR
• Complete taxonomies for all industries by
  September 2007
• Build improved analytical tools
• Mandate filing with XBRL

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The SEC Program Today

• Voluntary XBRL Filing Program
• originally 17, now 30 companies
• Executive compensation data tagged
• beginning 2Q, 2007

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SEC Voluntary Filing Program

• 3M CompanyAnadarko Petroleum Automatic Data
  ProcessingAltria Group, Inc.Bowne Co.
  Inc.Brazilian Petroleum Corp. Bristol-Myers
  Squibb Comcast CorporationCommonwealth Edison
  Crystal International Travel Group, Inc.The
  Dow Chemical CompanyEDGAR Online Inc.Exelon
  CorporationExelon Generation Co

• Fastenal Co.Ford Motor CompanyFord Motor Credit
  CompanyGeneral Electric CompanyGol Intelligent
  Airlines, Inc.Infosys Technologies Microsoft
  CorporationOld Mutual Capital, Inc.PECO Energy
  CompanyPepsiCo, Inc.Pfizer, Inc.R.R. Donnelley
  Sons South Financial Group, Inc.United
  Technologies
• Xerox CorporationXM Satellite Radio Holdings

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SEC Financial Report Viewer
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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

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Investment Company Institute

• XBRL taxonomy for Risk/Return Summary (N-1A)
  (released January 2007)
• Proposal to join the SECs voluntary filing
  program (submitted March 2007)

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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

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Canadian Securities Administrators

• Voluntary filing program to start May 2007
• Uses Canadian GAAP taxonomy
• XBRL Canada Blog at http//www.zorba.ca/xbrlblog.h
  tml

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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

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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

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The Future

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

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Steps for Librarians

• Keep abreast of SEC moves
• Test free SEC tools
• Talk to your data vendors

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Thank You

• Louise Klusek, Assistant Professor, Newman
  Library, Baruch College, City University of New
  York
• Louise_klusek_at_baruch.cuny.edu