XBRL (eXtensible Business Reporting Language) is an open, XML-based standard for the electronic submission of business and financial data. Though XBRL specifies what data must be reported and provides a standardized way of doing so, companies and regulatory agencies need a way to ensure the quality of data that is submitted. One approach is by using business rule validation, and XULE is one method that is growing in popularity.Read more…
Tags: OIM, RaptorXML, XBRL, xBRL-CSV, xBRL-JSON, XMLSpy
XBRL International has finalized the sunrise period for its important new OIM (Object Information Model), which includes the xBRL-JSON and xBRL-CSV standards. In turn, it has completed the software certification process. Any product awarded the XBRL Certified Software designation has been thoroughly tested by XBRL International for conformance with the current XBRL specifications.
OIM represents a years-long effort of the XBRL community to modernize the financial reporting standard, providing a model for easily transforming XBRL data between XML and other popular formats like CSV and JSON. This way, organizations can take advantage of the functionality of XBRL and at the same time have XBRL documents written in the format(s) most convenient for them.
Altova XMLSpy and RaptorXML Server were some of the very first tools on the market to support xBRL-JSON and xBRL-CSV and are now officially named XBRL Certified Software for the OIM standards (in addition to being certified for a variety of other core XBRL technologies).
Tags: database to text, multi-channel publishing, StyleVision, StyleVision Server, xml to text
Creating business reports from data stored in XML and relational databases is a common requirement in most organizations. However, it’s often complicated by the need to have information available in both web formats and print-ready formats such as PDF. Altova StyleVision takes a unique approach to report creation by letting users design reports from XML, databases, and even XBRL in a visual way – and output them in multiple formats simultaneously.
Over the years, support has been added for output to HTML, RTF, Word, and PDF – and now, based on customer feedback and requests, StyleVision also supports direct output to text. Let’s take a look at how it works.Read more…
Tags: OIM, Open Information Model, RaptorXML, software tools, XBRL, XML, XMLSpy
XBRL – the eXtensible Business Reporting Language – is a global framework for exchanging business information. The standard, maintained by XBRL International, is based on XML and designed to offer a standards-based approach to communicating and exchanging financial information between business systems.
The current version of the standard was finalized in 2003 and since then has received widespread uptake and eventual mandates from numerous countries and regulatory agencies, including the United States SEC. Adoption of the standard is due to advantages that include enabling automation and cost savings, better quality of reported data, improved analysis, and better quality of information used for decision making.
Despite its benefits, the complexity of XBRL presents a sharp learning curve for accountants and other stakeholders not familiar with XML, leading to errors and increased consultancy costs. In addition, coinciding with the adoption of big data technologies, XBRL has been used to represent ever growing datasets, which can be resource intensive.
XBRL International has worked over the years to modernize and simplify the standard in response to those challenges, and the Open Information Model (OIM) is an exciting and innovative solution.Read more…
Tags: MapForce, MissionKit, new features, StyleVision, What's new, XBRL, XMLSpy
Altova Software Version 2022 is now available, with exciting new support for mapping and converting NoSQL databases in MapForce, pure text report output in StyleVision, and Windows 11 across the product line. The release also adds support for the exciting new OIM standard from XBRL International.
Here’s a look at the highlights.Read more…
Tags: XBRL, XBRL Taxonomy pa
XBRL – the eXtensible Business Language – makes use of taxonomies as a standards-based way to define the specific tags that are used for individual items of data (such as “net profit”) in a financial report, as well as their attributes and how they relate to other data points. As such, different taxonomies are created for different business reporting scenarios.
Over time a staggering number of different XBRL Taxonomies have been developed to reflect the local accounting practices in various countries. In addition, many specific industries, such as construction and insurance, have created their own specialized taxonomies.
Developers and financial pros working with XBRL software tools need a way to download and manage the XBRL Taxonomies they need for their specific projects. Altova has long provided free installers for these taxonomies and their various versions on our web site, but we’ve now made the process even more streamlined with the XBRL Taxonomy Manager.
Let’s take a look at how it works.Read more…
Tags: EDI, MapForce, new features, StyleVision, SWIFT, v2021, XBRL, XMLSpy
As standards-based technologies and their applications evolve, so does the functionality that users require from developer tools. In our latest release, we’ve added new ways to work with XBRL, JSON, EDI, and more that help Altova customers work faster and more efficiently.
Let’s take a look at some highlights from the Altova Software Version 2021 release.Read more…