XBRL GL
Encyclopedia
XBRL GL international, is an organisational section of XBRL
that makes the international XBRL GL EDI (Electronic Data Interchange
) standard
for electronic accounting and financial report documents in XML
format.
XBRL GL can be used by Computer program
s for information interchange of accounting General ledger
, balances as well as complete accounting ledger including identifiers (object oriented accounting, quantity accounting and transparency support). The XML files can also be viewed in internet browsers using XSL
. XBRL
has in general its focus on financial reporting.
and SIE (file format) are also making open standard accounting interchange file formats.
XBRL GL (General Ledger) and UN/CEFACT
accounting are XML file standards with about the same purpose and content, in modern XML file format. The elder (1992) domestically well spread Swedish SIE (file format) is a tagged text file format. The XML technology is much better suited to work with modern HTML and WEB-based technology and tools. The XML files are in the range 20-50 times larger than SIE files on the hard disk.
The XML format abilities and the huge activities around XBRL and UN/CEFACT have created a huge potential and expectations of modern accounting technologies. XBRL GL is certainly formed from its origins, the audit and financial reporting societies in the USA and globally. UN/CEFACT is working on trade administration theme and accounting is the terminal point of trade administration and its file format is designed from a trade administration point of view. SIE from a local Swedish vendor society’s market interests.
between countries, represents a much bigger compatibility problem of information interchange between accounting and financial reports between accounting cultures. Tax regulations also make huge differences in the actual content of accounting and financial report information between countries. All three file formats are however transparent and independent of any charts of accounts and tax regulations. The EU commission has spent large efforts into the field of tax administrative harmonisation and for instance is the main intension latest version of the EU VAT directive to achieve this and to support electronic trade documents like electronic invoices better in cross border trade especially within the European Union Value Added Tax Area
. But there is still a huge way to real comaptible charts of accounts and international accounting information interchange.
(ERP) system using XML and the XBRL
Specification.
(OMG).
and the Organisation for Economic Co-operation and Development
(OECD).
XBRL
XBRL is a freely available, market-driven, open, and global standard for exchanging business information. XBRL allows information modeling and the expression of semantic meaning commonly required in business reporting. XBRL is XML-based...
that makes the international XBRL GL EDI (Electronic Data Interchange
Electronic Data Interchange
Electronic data interchange is the structured transmission of data between organizations by electronic means. It is used to transfer electronic documents or business data from one computer system to another computer system, i.e...
) standard
Standard
A technical standard is an established norm or requirement about technical systems. It is usually a formal document that establishes uniform engineering or technical criteria, methods, processes and practices. In contrast, a custom, convention, company product, corporate standard, etc...
for electronic accounting and financial report documents in XML
XML
Extensible Markup Language is a set of rules for encoding documents in machine-readable form. It is defined in the XML 1.0 Specification produced by the W3C, and several other related specifications, all gratis open standards....
format.
XBRL GL can be used by Computer program
Computer program
A computer program is a sequence of instructions written to perform a specified task with a computer. A computer requires programs to function, typically executing the program's instructions in a central processor. The program has an executable form that the computer can use directly to execute...
s for information interchange of accounting General ledger
General ledger
The main accounting record of a business which uses double-entry bookkeeping. It will usually include accounts for such items as current assets, fixed assets, liabilities, revenue and expense items, gains and losses. Each General Ledger is divided into debits and credits sections. The left hand...
, balances as well as complete accounting ledger including identifiers (object oriented accounting, quantity accounting and transparency support). The XML files can also be viewed in internet browsers using XSL
XSL
The three-letter abbreviation XSL may have multiple meanings, as described below:* In computing, the Extensible Stylesheet Language: a set of language technologies for defining XML document transformation and presentation* XSL Formatting Objects...
. XBRL
XBRL
XBRL is a freely available, market-driven, open, and global standard for exchanging business information. XBRL allows information modeling and the expression of semantic meaning commonly required in business reporting. XBRL is XML-based...
has in general its focus on financial reporting.
Relation to UN/CEFACT accounting and SIE
UN/CEFACTUN/CEFACT
UN/CEFACT is an organisation that makes international EDI Electronic Data Interchange standards for electronic trade documents in XML format.- UN/CEFACT History, A UN mission to support trade:...
and SIE (file format) are also making open standard accounting interchange file formats.
XBRL GL (General Ledger) and UN/CEFACT
UN/CEFACT
UN/CEFACT is an organisation that makes international EDI Electronic Data Interchange standards for electronic trade documents in XML format.- UN/CEFACT History, A UN mission to support trade:...
accounting are XML file standards with about the same purpose and content, in modern XML file format. The elder (1992) domestically well spread Swedish SIE (file format) is a tagged text file format. The XML technology is much better suited to work with modern HTML and WEB-based technology and tools. The XML files are in the range 20-50 times larger than SIE files on the hard disk.
The XML format abilities and the huge activities around XBRL and UN/CEFACT have created a huge potential and expectations of modern accounting technologies. XBRL GL is certainly formed from its origins, the audit and financial reporting societies in the USA and globally. UN/CEFACT is working on trade administration theme and accounting is the terminal point of trade administration and its file format is designed from a trade administration point of view. SIE from a local Swedish vendor society’s market interests.
Accounting information interchange issues
However differences in Chart of accountsChart of accounts
__FORCETOC__A chart of accounts is a created list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received...
between countries, represents a much bigger compatibility problem of information interchange between accounting and financial reports between accounting cultures. Tax regulations also make huge differences in the actual content of accounting and financial report information between countries. All three file formats are however transparent and independent of any charts of accounts and tax regulations. The EU commission has spent large efforts into the field of tax administrative harmonisation and for instance is the main intension latest version of the EU VAT directive to achieve this and to support electronic trade documents like electronic invoices better in cross border trade especially within the European Union Value Added Tax Area
European Union Value Added Tax Area
The European Union value added tax area is a territory consisting of all European Union member states and certain other countries which follow the European Union's rules on value added tax . The principle is also valid for some special taxes on products like alcohol and tobacco.Goods are only...
. But there is still a huge way to real comaptible charts of accounts and international accounting information interchange.
XBRL International's Global Ledger Taxonomy Framework
XBRL GL, the familiar name for XBRL International's Global Ledger Taxonomy Framework, is a series of modular taxonomies developed by XBRL International and a framework for its extension for representing the information found in a typical Enterprise resource planningEnterprise resource planning
Enterprise resource planning systems integrate internal and external management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application...
(ERP) system using XML and the XBRL
XBRL
XBRL is a freely available, market-driven, open, and global standard for exchanging business information. XBRL allows information modeling and the expression of semantic meaning commonly required in business reporting. XBRL is XML-based...
Specification.
Formal models and XBRL GL
XBRL GL is the modeling of the semantics of information found in ERP systems using the XBRL Specification. Additional efforts to reuse the semantic of the Global Ledger using other syntaxes are also being explored, such as the current effort to develop a UML Profile for XBRL Global Ledger Framework with the Object Management GroupObject Management Group
Object Management Group is a consortium, originally aimed at setting standards for distributed object-oriented systems, and is now focused on modeling and model-based standards.- Overview :...
(OMG).
Tax organization interest in XBRL GL
XBRL GL was designed to be generic and holistic, and serve as a bridge between transaction space and reporting. As such it has gained interest from many sectors, including tax administrators in OASIS (organization)OASIS (organization)
The Organization for the Advancement of Structured Information Standards is a global consortium that drives the development, convergence and adoption of e-business and web service standards...
and the Organisation for Economic Co-operation and Development
Organisation for Economic Co-operation and Development
The Organisation for Economic Co-operation and Development is an international economic organisation of 34 countries founded in 1961 to stimulate economic progress and world trade...
(OECD).