XBRL For Tax Filings Symposium
To those interested in XBRL for Tax Filings: Below is an invitation for a symposium on XBRL for Tax Filings. Please forward this invitation on to important stakeholders that may be interested in participating in the development of XBRL for Tax Filings. XBRL "Liaison & Outreach" Symposium: XBRL for Tax Filings Washington, D.C. - February 8 Thursday, February 8, 2001 1 PM - 4 PM EST The Urban Institute 2100 M Street, NW 5th Floor Washington, DC 20037 (The institute is located at the corner of 21st Street and M Street NW and is walking distance from the Dupont Circle, Farragut North, Farragut West, and Foggy Bottom Metro stops) "United Effort brings Private Sector, Government, Financial Services, Accounting, Software, XML/Metadata, and Tax Communities Together." Tax professionals and trade associations and companies interested in learning more about XBRL with the possibility of joining the Steering Committee and/or establishing a formal liaison relationship, are invited to attend an important tax symposium on Thursday, February 8. XBRL (Extensible Business Reporting Language) is a new XML-based standard for tax, financial information, reporting and analysis that has been jointly developed by over 85 leading companies and organizations around the world. XBRL will help companies: collect and update information about tax reporting; distribute or collect information related to sales and purchases; provide improved information to shareholders for financial reports as a public entity; provide information to local, state and federal regulatory authorities to help automate tax, and business reports that contain tax information; and other companies do business with. XBRL is creating an Internet standard for business reports. This "Liaison Open House" will provide an overview of XBRL, its methodology and future, and the benefits and ultimate ROI to organizations participating in its adoption. The objective is to educate the tax community about our efforts and to invite participation in its development. In addition, tax trade associations are encouraged to invite their members to attend this important meeting on the development of XBRL for Tax Filings. POSITION YOUR ORGANIZATION AND YOUR MEMBERS TO SUCCEED Because XBRL would mean one report could automatically be rendered to serve multiple reporting needs, its proponents aim to spur a mass movement of businesses toward producing their financial reports electronically. This includes tax filings. XBRL has the potential to revolutionize the communication of business reporting. This symposium is addressed specifically to decision-makers in your organization with responsibility for processing of tax reporting and filing. DEMOS: - Microsoft will have a demo of the FORM 1120 Tax Report - National Center for Charitable Statistics will have a draft of their FORM 990 Tax Report that can be used by the non-profit community WHO SHOULD ATTEND? The appropriate decision-maker(s) within your company or organization. E-Business Leaders within companies, CFOs, CIOs; CTOs; tax department executives, Vice Presidents of Financial Research, Technology, Strategic Planning, Finance and Product Development and other financial, business performance and technology executives in your organization, including- - Accounting firms - Trade associations - Financial information providers - Software and professional service firms - Government Agencies LOCATION: The Urban Institute 2100 M Street, NW 5th Floor Washington, DC 20037 DATE/TIME: Thursday, February 8, 2001 * 1:00 PM - 4 PM EST COST: This seminar is free. REGISTRATION: REQUIRED. There is limited seating; kindly reserve your place ASAP. To register, please e-mail to Karyn Waller, XBRL.org Committee, at firstname.lastname@example.org and/or (212) 596-6054 with your name, title, company, e-mail and telephone number. For more information about XBRL before the conference, please visit our web site at www.xbrl.org. AGENDA - XBRL Symposium for Tax Filings 12:30 - 1:00 p.m. Registration 1:00-1:45 p.m. Overview XBRL is an open specification for the exchange of business reporting information relating to tax filings. Business reports created in XBRL can make information more effective and easier to provide comparisons, aggregation and analysis more efficient. The scope of the XBRL open specification today encompasses US financial reporting (US GAAP) but is flexible enough to improve the transparency and usability of tax reports. In this presentation we will describe how the current members of the XBRL steering committee have worked together to produce a multi-layered XML-based specification that is comprehensive, substantive, flexible and powerful for the tax filing community. 1:45 - 2:00 p.m. XBRL Demo for Tax Filings * Microsoft will have a demo of the FORM 1120 Tax Report for Demo * National Center for Charitable Statistics will have a draft of their FORM 990 Tax Report that can be used by the non-profit community 2:00 - 2:30 p.m. Domain Taxonomy We discuss the concept of a tax filing taxonomy and the framework for creating taxonomies by subject area such as federal, state and local filings, internal tax reporting, etc. * Discuss experiences creating our first taxonomy, which was created for US GAAP commercial and industrial companies. * Demonstrate how this initial taxonomy is extended for the reporting requirements of an individual company. * Discuss how this initial taxonomy will differ from the next taxonomy being created for other industries and countries. 2:30 - 3:00 p.m. Benefits and Adoption Strategy XBRL-- * Reduces costs * Enables new tools for reporting and analysis * Strengthens investor relations, and * Provides greater revenue opportunities for the entire financial services information supply chain We will present multiple cases describing the short-term return on investment of implementing XBRL for tax filings, as well as several future-state scenarios based on XBRL's adoption strategy with other internet movements, across industry sectors, internationally, and along the information supply chain, from companies and e-marketplaces to intermediaries and aggregators to analysts, creditors and investors. 3:00 - 4:00 p.m. XBRL-The Next Step for the Tax Filing Community An open discussion among all participants, moderated by XBRL representatives, to assess the role of tax professionals in XBRL's development and further growth. Issues discussed will include: * Membership responsibilities * Taxonomy development * Industry leadership * Liaison and adoption strategies * Role of Steering Committee members * Other requirements and issues * XBRL's development among financial institutions and regulators XBRL Steering Committee Members (as of January 2001) Financial Services and information providers: * Business Wire * Bridge News * Dresdner Kleinwort Benson * Dow Jones & Co., Inc. * EDGAR Online Inc. * Fidelity Investments * Global filings * Moody's Risk Management Services * Morgan Stanley Dean Witter * Multex.com, Inc. * NEC Planning Research, Inc. (Japan) * Japan Digital Disclosure, Inc. * JP Morgan & Co., Inc. * Reuters Group LP * Standard and Poor's * Thomson Financial * usAdvisor, Inc. * Virtual Growth, Inc. Professional services: * Advisor Technology Services * Arthur Andersen, LLP * BDO Seidman, LLP * Cogniant, Inc * Crowe Chizek and Co., LLP * Deloitte & Touche, LLP * Elemental Interactive * ePartners, Inc. * Ernst & Young, LLP * Financial Architects * First Light Communications, Inc. * Gcom2 Solutions * Grant Thornton, LLP * HOLT Value Associates * IBM * KPMG LLP and KPMG Consulting * New River, Inc. * PPA/Audicon I have PPA GmbH * Practitioners Publishing Company * PricewaterhouseCoopers, LLP * The Woodburn Group * XBRL Solutions, Inc. Technology enablers: * ACCPAC International, Inc. * ACL Services Ltd. * Best Software * Count-net.com * CaseWare International Inc. * E-Content (Interleaf) * eKeeper.com * eLedger.com, Inc. * e-Numerate Solutions, Inc. * ePace! Software * Epicor Software Corp. * Financial Software Group * FRx Software Corp. * Great Plains * Hyperion Solutions Corp. * iLumen * Infoteria Corp., * Innovision * Lawson Software * Microsoft Corp. * MIP, Inc. * NavisionDamgaard Software * NetLedger, Inc. * Oinke, Inc. * Oracle Corp. * PeopleSoft * Sage Software * SAP AG * Syspro Group Government, Not-for-Profit, and Preparers; * Deutsche Bundesbank * General Electric * Ministry of Finance, Singapore * National Center for Charitable Statistics at the Urban Institute * Seattle Pacific University Center for Professional Development * U.S. Dept. of Defense (Defense Finance and Accounting Service) Accounting and Trade Organizations: * AICPA (U.S.) * Certified General Accountants Association of Canada * CICA (Canada) * CPA Australia * HKSA (Hong Kong) * ICAA (Australia) * IASC (International) * ICAEW (U.K.) * IMA (U.S.) * National Information Infrastructure Enterprise Promotion Association (CommerceNet Taiwan)
Prepared by Robin Cover for The XML Cover Pages archive.