11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane.Mueller@Corel.com...

11/2/2003 Diane MuellerSr. Program Manager, XML Content Solutions

Diane.Mueller@Corel.com

XBRL/Seattle Internal Reporting Session

Streamlining Financial Reporting &

Audit Analytics with XBRL

Agenda

• XML @ Corel – Introduction to XMetaL Platform

• Internal Reporting Today

• Fundamentals of Re-Use

• XBRL as Metadata – Empowers content creation and re-use– Enables content analysis

XMetaL’s History of XML Innovation

XMetaL Products

Corel Financial Report Console (free 30 day trial version available)

– Based on XMetaL Author 4.0 and XBRL Integration Pack for XMetaL– Native XBRL Authoring for any level of user– Full Instance Document Creation support– Allows for complex Template Development and Deployment– Seamlessly integrates with your existing Content Management Systems and XML-aware

databases– Infinitely Customizable to meet the needs of all levels of users within your organization!

Corel Financial Statement Navigator (web-based)

– Based on XMetaL for ActiveX and XBRL Integration Pack for XMetaL 4.0– Native XBRL Authoring for any user– Allows for web-based data-entry via templates – Allows for web-based editing, review, and analysis of XBRL instances– Small footprint, easy to deploy and manage– Can be delivered as a hosted solution; infinitely customizable– Can be private-label branded– Can be embedded in a browser or any Windows application

Corel’s strong Client base in Financial Services

Visual Intelligence Products for Financial Reporting and Analysis

XMetaL XBRL Work Flow

Internal Financial Reporting Today

Everyday…• Businesses generate

thousands of internal reports, creating mountains of paper and e-content,

• These mountains of data are then endlessly mined and analyzed by a wide variety of tools, people and computerized systems.

• And it is based on this information pool that business decisions are made.

Mountains of Information

Internal Financial Reporting Today

• Most organizations already reuse financial content on a daily basis

• Internal Reports are generated by acct system’s reporting engines

• Copy and paste it into spread sheets and documents

• Distributed via email with explanatory notes

• And sent to decision makers on a daily basis

• This works well until the finanical content - and everywhere it appears - has to be updated….

Mountains of Information

Proprietary Data Format, Departmental Boundaries

• This content is the life blood of an organization – getting accurate, timely content out to the right people at the right time is critical to an organization’s success.

• Internal financial reporting– Financial performance

of Divisions, Subsidiaries, Joint Ventures – determines ability to react

Cause Silos of Information occur..

Financial Reporting

Accounting System(accumulates both financial and(accumulates both financial and

managerial accounting data)managerial accounting data)

Information for decisionInformation for decisionmaking and controlmaking and controlof an organization’sof an organization’s

operations.operations.

Published financialPublished financialstatements and otherstatements and other

financial reports.financial reports.

InternalUsers External

CreateConvert

Cost:$$

Cost:Lost Content

Cost: Time

x Updates

x Versions

A Growing Problem

Organizations have exploding amounts of ever-changing financial content that must be delivered to different audiences in different forms

Decrease time-to-marketwith automatedconversion and delivery!

Save money byautomating contentassembly!

Increase quality byallowing content expertsto focus on content!

XML is a flexible, non-proprietary format socontent is ready for anyfuture use!

That can beEfficiently andAccuratelyUpdated

InAutomatically-assembledVersions

Reduce the Cost and Time

of Providing up-to-date, personalized content to multiple channels

Fundamentals of XML Re-Use

Reuse is not a new concept• Many industries have

been using XML to enable reuse:– Improve quality – Increased consistency– Reduced development

and maintenance costs– Rapid reconfiguration– Translation

Re-New, Re-Use, Re-Cycle

Systematic Re-Use of Financial Data

Structured Content

• Allows Data reuse, comparability, aggregation

• Enables transparent reporting

• Allows for the use existing content components to develop new “documents.”

• Allows for planned reuse where content is automatically inserted

from Managing Enterprise Content

(Publisher: New Riders Publishing; ISBN: 0735713065)

XBRL Metadata

…enables Re-Use and Analysis…hence Audit Tests..

XBRL- ApplicationsXBRL- Applications

Defines the technical standard for the composition of XBRL Taxonomies

Defines a set of data tags in a certain business reporting area (i.e. US GAAP, IAS)

“Output” from tagging data using one or more taxonomies

Software that uses “tagged” data for presentation, analytics, etc.

XBRL-SpecificationXBRL-Specification

XBRL- InstanceXBRL- Instance

XBRL- TaxonomyXBRL- Taxonomy

• Support for Any XBRL Taxonomy – Specification 2.0 and up

• Native XBRL Word Processing– Client end users never has to see underlying XBRL – Editing and Composition of XBRL-tagged Financial Statements– Industry-leading word-processing interface for XML– Support for Numeric and Prose editing of XBRL documents

• Template Building– One-Click Creation Data Entry templates for XBRL instance creation from

any taxonomy• Full Instance Document Creation

– Using presentation & label linkbases– Publishing to Html, PDF and other XML standards such as NewsML, RixML

• Analysis/Assurance – Leveraging Calculation and Formula Linkbases– Formula and Audit Test Building– Built-in Scripting capabilities

• Integration with Web-based Interactive Graphics– Deliver powerful web-based Scalable Vector Graphics – Tied directly to XBRL data in drill-down interactive graphics

XMetaL Functionality

Demo Time – Reuse and Audit Tests

• Leveraging – Financial Report Console– Linkbase Technology– Web-base Graphics– XBRL Integration Pack

• To create new documents that can be reused• To consume existing documents • To review and examine XBRL content

The XMetaL Platform for XBRL delivers a new set of tools designed to simplify the implementation of XML applications

across the Financial Reporting Supply Chain

– enables anyone to create valid XML content, and streamlines the process of distributing information to the Web, print and other media.

– enables organizations to rapidly build and deploy XML applications that enable anyone to create valid XML content and streamlines the process of rendering and distributing information to the Web, print and other media.

– provides the only rich XML editing and instance creation solutions that support dynamic validation for both W3C Schemas and DTDs.

XMetaL product Re-Cap

191-27-03

Questions?

11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane.Mueller@Corel.com...

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Transcript of 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane.Mueller@Corel.com...

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