XBRL Archives

Tag Archive for: XBRL

Creating ESEF Filings Just Got Easier

May 15, 2023/0 Comments/in Regulatory Solutions, Software, XBRL /by Erin Cavanaugh

To meet current mandates, ESEF (European Single Electronic Format) reports must be filed in XBRL. To accelerate the process, regulated companies can take advantage of intelligent software tools to fill the reports with data. One such tool from Altova allows organizations to create valid ESEF XBRL directly in Excel, where finance pros are already comfortable working. This allows them to create reports for filing without having to learn the intricacies of XBRL syntax.

Unlike some other XBRL filing mandates, ESEF requires filing companies to create their own extension taxonomy, which defines the entity-specific data rules for their report. To help customers with this step of the filing process, the Altova ESEF XBRL add-in for Excel includes a visual extension taxonomy designer that makes it a complete start-to-finish ESEF reporting solution.

Let’s see how it works.

Person working on a laptop with coworkers at desks in the background

Tags: ESEF, Excel add-ins, XBRL

How to Get EBA XBRL from Excel

December 14, 2022/in Applications, Software, XBRL /by Erin Cavanaugh

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 how EBA reporting tools can make it easier.

EBA XBRL from Excel

Tags: EBA, Excel add-in, XBRL

ESEF Tools

November 2, 2022/in Tools, XBRL /by Erin Cavanaugh

The ESEF acronym has been top of mind for finance professionals across the EU and UK since mid 2019, when an upcoming reporting mandate from the European Securities and Markets Authority (ESMA) was announced.

ESEF, which stands for European Single Electronic Format, is a digital financial reporting standard based on XBRL. As of early 2020, companies on EU regulated markets are mandated to prepare their annual reports in accordance with ESEF rules.

What exactly is ESEF compliance, and what does it take to meet reporting requirements? Let’s take a look at the basics and some tools that make it easy.

Learn about XULE for XBRL

September 13, 2022/in Servers, Software, XBRL /by Erin Cavanaugh

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.

Tags: Raptor, XBRL, XBRL Formula, XMLSpy, XULE

Certified Tools for xBRL-JSON & xBRL-CSV

June 22, 2022/in Software, Tools, XBRL /by Erin Cavanaugh

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).

Learn more:

What is OIM?
Altova tools for xBRL-JSON and xBRL-CSV
What are the benefits of choosing XBRL Certified Software?

Colleagues collaborating on computers in an office

Tags: OIM, RaptorXML, XBRL, xBRL-CSV, xBRL-JSON, XMLSpy

Learn About OIM for XBRL

November 17, 2021/in Software, XBRL, XML /by Erin Cavanaugh

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.

NoSQL Database Support and More in Version 2022

October 27, 2021/in Database, Software, XBRL /by Erin Cavanaugh

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.