Posts

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
Read more…
Tags: ,

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.

Read more…
Tags: , , , , , , ,

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. 

Tags: , , , ,

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.

Read more…
Tags: , , , ,

How to Get EBA XBRL from Excel


Like other regulatory agencies around the world, the European Banking Authority (EBA) has standardized on XBRL for the transmission of data submitted by filing entities. Benefits of using XBRL include increased accuracy and efficiency of supervisory practices and risk identification. The use of XBRL benefits filing organizations as well, because the now-standardized data can be easily validated and then used further for automated report generation and other common requirements.

However, the challenge lies in getting backend data into a valid XBRL format according to the EBA Taxonomy, especially since the employees recording the data are generally financial professionals and not familiar with XBRL syntax.

Let’s take a look at a few options for that, including a solution from Altova called the European Banking Authority (EBA) XBRL Add-in for Excel.

EBA XBRL from Excel

Read more…

Tags: , ,

Solvency II XBRL without the Headache


Solvency II regulations in the European Union require periodic reports to be submitted in XBRL format by companies in the insurance industry. This can present a considerable challenge to workers unfamiliar with technical XBRL syntax.

Altova created an easy way to take data directly from Excel to generate reports based on the Solvency II XBRL taxonomy, completely shielding end users from the complexity of XBRL syntax.

Let’s take a look at what the Solvency II regulations mean to impacted companies and how the Altova Solvency II add-in for Excel makes it easy to generate valid reports for filing.

Learn about Solvency II XBRL

Read more…

Tags: , , ,

Get Sharp with Altova’s Latest Release


Altova Software Version 2019 introduces over 20 new features to help you sharpen your development game – starting with support for high-res monitors in both XMLSpy and UModel. There are also tools for working with new standards and database versions across the product line, the ability to map and convert data in Google Protocol Buffers format, and much more. Let’s take a look at the highlights.

Altova Version 2019

Read more…

Tags: , , , , , , ,