Digital Financial Reporting

XBRL-based structured digital financial reporting

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Digital Financial Reporting Using XBRL

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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due. If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.

The author of this web site assumes all responsibility for this web site and it's content. The views expressed on this web site are the views of the author and may not represent the views of his employer.

BLOG: Digital Financial Reporting

This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.

Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.

Entries in IBM (1)

Oracle's Enterprise Performance Management (EPM) System to Support XBRL

In a press release today, Oracle announced that their Enterprise Performance Management (EPM) System will support XBRL with help from UBmatrix. An excerpt from the press release states:

To help publicly held companies facilitate the preparation, publishing and automatic exchange of financial statements in XBRL (eXtensible Business Reporting Language), Oracle will embed UBmatrix, Inc.’s leading XBRL technology into Oracle's Enterprise Performance Management (EPM) System, Oracle announced today.

You can read the press release yourself. Here is a link to information on what SAP is doing with XBRL. Not to leave out the company I work for, UBmatrix who is providing XBRL components for both SAP and Oracle, see here for more info.

In a related story, Investor's Business Daily says:

Today, most software companies — including UBmatrix, Germany's SAP (SAP), Microsoft (MSFT) and Oracle (ORCL) — are starting to create XBRL software to help companies send financial data over the Web.

I would probably add IBM to the list of companies who are creating XBRL software to help companies send financial (and other businessdata) over the Web. IBM is pushing XBRL as a standard for risk reporting as you can see from this Web page and this Web page. They are probably moving slowly but deliberately as they figure out how to best integrate XBRL into their offerings.

(If anyone knows specifically what IBM and Microsoft are doing, love to hear know that, maybe you could post a comment on this blog.)

Posted on Wednesday, June 24, 2009 at 08:21AM by