From: http://www.xbrl.org/taxfilings.html 2001-02-15
XBRL for Tax Filings
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.
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 kwaller@aicpa.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
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)