Learn About OIM for XBRL


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.

Accountants learning about OIM XBRL
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NoSQL Database Support and More in Version 2022


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.

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Finally – An Easy Way to Manage XBRL Taxonomies


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.

XBRL accountant
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New tools for JSON, EDI, SWIFT, and XBRL in Version 2021


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.

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XBRL Updates for COVID-19 Requirements


In response to measures related to the COVID-19 crisis, the European Banking Authority (EBA) has issued updated reporting and disclosure requirements. These are designed to accommodate, for instance, emergency legislation on pausing loan repayment schedules and the resulting impact on financial institutions.

As such, the corresponding local XBRL taxonomies for reporting to the EBA have been updated with these temporary changes.  Altova has published updated taxonomy installers that provide the most recent versions.

Updated taxonomies are included with any installation of the Altova EBA XBRL Add-in for Excel, and additional local taxonomies including BBK, BDP, NBB, and SRB are available on the product download page.

Additionally, the XBRL Taxonomies Installer for all other Altova products that provide XBRL functionality, including XMLSpy, MapForce, and StyleVision, has been likewise updated. 

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New Tools to Work with XBRL in Excel


With the importance of accurate, standardized financial reporting enforced through XBRL filing mandates, having XBRL tools you can rely on is a must. What’s more, financial professionals need to be able to generate XBRL reports easily without getting bogged down by the complexities of XBRL syntax.

Altova offers several add-ins for Excel that make it easy for organizations to comply with regulations from the EBA, EIOPA, and other regulatory bodies that mandate reporting in XBRL. These easy-to-use software products integrate directly into Excel so that users can create valid XBRL reports in an environment where they’re already comfortable working. And, the add-ins support importing existing XBRL reports to Excel for easy readability and analysis.

The latest release of the Altova XBRL Add-ins for Excel provides some important new features – let’s take a look.

New tools to work with XBRL data in Excel
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Learn about XULE for XBRL


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 of ensuring data quality through business rule validation. XULE is one method that is growing in popularity.

Let’s take a look at what XULE is and how it works.

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