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If you work with XML you probably have heard of XBRL. More over, is possible that some of your clients are planning to use it or at least want to. But what is really the buzz about XBRL?   When I first get in touch with XBRL I had a lot of questions that nobody could answer because it was too young compared to today’s XBRL child growing every minute. Never the less, there are a lot of people that does not know what XBRL means or does. Well, this is an executive brief to get you started on the topic.  XBRL (eXtensible Business Reporting Language) is a language for the electronic communication and exchange of business and financial data which is revolutionizing business reporting around the world. It is one of a family of “XML” languages which is becoming a standard means of communicating information between businesses and on the internet.  The idea behind XBRL is simple.  Instead of treating financial information as a block of text – as in a standard internet page or a printed document – it provides an identifying tag for each individual item of data.  This is computer readable. For example, company net profit has its own unique tag. This way you can handle data in different languages and accounting standards because it can flexibly be adapted to meet different requirements and uses.  Technically speaking, XBRL adds a tag to the lines that a report usually have. With these tags you give attributes to the information to establish a binary relation between them, at the same time that you are labeling each item independently where they are going to be read or exported. This way, the programs configured to read XBRL can understand and organize the information with the same characteristics that it had when it was originated.   It’s not under discussion the advantages and the future of XBRL (SAP Business One is planning to have a XBRL adapter in the future), but we have to be prepared to adapt to the changes that will occur if XBRL becomes a financial standard.  I searched SDN and found nothing related to this topic. Is someone else interested?   For more information on XBRL:  Benefits and Uses of XBRL:http://www.xbrl.org/BenefitsAndUses/ How does XBRL works: http://www.xbrl.org/HowXBRLWorks/ XBRL in action:http://www.microsoft.com/office/showcase/xbrl/default.mspx XBRL home: http://www.xbrl.org/Home/
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4 Comments

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  1. Rajesh Anumolu
    Thank you for sharing your thoughts about XBRL, you article is quite informative.

    I was wondering if you know from what release of SAP R/3 is XBRL supported?

    Thanks again
    Rajesh

    (0) 
  2. Lucio Martinez
    Hi
    I need help with a taxonomy
    I  download a taxonomy from xbrl.org but there aren’t data for mapping with my hierarchyy into SEM BCS, Do I need apply a note for this.

    Best regards

    (0) 
  3. Lucio Martinez
    Hi
    I wanna know if can you tell  me about your experience with XBRL and  what kind of tool have you been using?
    Have you use SAP SEM?.

    Best regards

    (0) 

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