XBRL can be used for numerous business reporting applications including public company financial statements, regulatory reporting, even tracking and valuing of mortgage-backed securities.
Below is the library of case studies, white papers and other research conducted by XBRL US with support from member and non-member organizations.
2024
- The FDTA impacts all municipal bond issuers, including states as well as local governments, special districts, and other entities. Local governments, both general purpose and special district, have raised questions concerning the extent of effort and cost required to implement the FDTA. To address these challenges, researchers from the University of Michigan, the University of Denver, and XBRL US have collaborated on a series of projects to design and evaluate machine-readable data standards that could appropriately represent the unique characteristics of U.S. government entities. This paper summarizes the lessons learned in designing a data standard and piloting it in multiple local governments.
- To meet the goals of climate initiatives worldwide requires governments to understand the impact of industry on the environment. This can only be accomplished through standardized, digital data that is concretely understood, timely, and consistently prepared to foster a shared understanding of the current state of climate risk and to monitor changes going forward.
2023
- Implementing the right data standard, as called for in the FDTA, will enable economies of scale, reduce the cost of reporting, data collection and analysis, and generate good quality, actionable data for policy-setters, regulators, and the public, including investors, and researchers.
2022
- Executive Summary Data used for investment decisions, policy-setting and risk assessment should be made available in non-proprietary machine-readable formats. Current best practices for disclosures as machine-readable data have improved quality, reduced the cost of processing, and improved timeliness and usability of reported data. Prepared by: XBRL US ESG Working Group chaired by: Anna Kwok, Vice [...more]
2021
- Liberty Mutual Surety, a global business with bond capabilities in more than 60 countries, relies on access to timely and accurate financial statement data on public and private companies, mostly to analyze corporate financial health for bonding and to conduct benchmarking and trend analysis. The financial data is also used by the claims department when [...more]
- Executive Summary Reporting, collecting, and analyzing data about individual grants, and the grantees themselves, is time-consuming, labor-intensive, and costly. Grantees prepare multiple forms, and duplicate data reported. Federal awarding agencies and other users of grantee information manually extract data from inconsistently prepared PDF forms or text files. The GREAT (Grants Reporting Efficiency and Transparency) Act [...more]
2020
- The CFA Institute published a blog debunking myths around blockchain and XBRL, noting: "The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. And XBRL is not a distributed ledger system. Replacing one with the other would be like replacing the English language with [...more]
2017
- XBRL data gives small businesses the tools to conduct critical analysis needed to make “go/no go” decisions on major life cycle changes. Should a company go public? Merge with another company? Be acquired? Understanding the path taken by other small businesses can help them determine the best course for themselves. With tools like XBRL data [...more]
- Marcum LLP successfully created a computer-readable WIP report to help contractor clients provide financial performance data to surety carriers that can be automatically extracted with no rekeying of data. Marcum created the report by performing a one-time mapping using a spreadsheet add-in that converted the WIP data into XBRL format. XBRL is an open data [...more]
- The Hartford demonstrates how a one-time investment in data standards can be used by brokers to streamline their own data processing; and by surety carriers to eliminate the need for manual data entry, improve the credit evaluation process and offer better service to contractor customers.
2016
- Morningstar, an investment research and investment management firm headquartered in Chicago, provides data on approximately 525,000 investment offerings, and began collecting data in XBRL format in 2012, starting with data from Taiwan and Japan. In 2016 they began working with US-based corporate data in XBRL format and will be making this available to clients in [...more]
- Corporate earnings are of keen interest to investors as a critical measure of value. But "unremitted (untaxed) foreign earnings", which have significant implications for corporate earnings, may be off the radar screen of many investors simply because of its placement in company filings, embedded in the notes to the financials. The cumulative balance of untaxed [...more]
- Corporate financials are now affordable, educating tomorrow's investors. Professor Mike Phillips at California State University - Northridge, helped his students establish a student-run investment fund that today manages $3.5 million. The fund contains three portfolios - 1) an ETF (exchange traded fund); 2) a traditional common stock portfolio with an emphasis on growth and quality; [...more]
- BDO USA, LLP, the US member firm of BDO International, a global accounting network, was asked to evaluate the fair value of the intangible assets acquired as part of a business combination. A primary factor in this type of evaluation is determining the reasonableness of the underlying projections used to support the intangible asset values. [...more]
- This paper provides the XBRL US position on the use of financial data standards and recommends adopting the freely available, open XBRL data standard for all financial data reporting required by U.S. regulators. Only the XBRL standard has 1) the appropriate format to render data computer-readable; 2) the appropriate information component to clearly and consistently [...more]
- The CFA Institute published a study supporting structured data, naming the following benefits to investors: Improves financial statement accuracy Improves productivity Increases opportunity for higher returns Allows for better risk management Empowers the analyst The study goes on to note that other areas of corporate disclosures that are not currently tagged would be helpful to [...more]
- The XBRL US Surety Working Group has published a business case Data Standards in Surety Underwriting, which outlines alternatives to bring standards into the surety underwriting process and recommends the use of XBRL to improve efficiency and timeliness. The following issues with today’s surety underwriting process can be improved through standards: High costs. Entering data by hand into [...more]
2015
- Every year, public companies report a single 10-K and three 10-Qs; each of these reports contain facts that are duplicates of facts reported in previous filings. XBRL US analyzed filings for 498 companies[1] representing the market to identify how public company disclosures can be made more effective. Key findings from the research: Significant amounts of [...more]
- Open data standards improve the corporate financial reporting process, making financial data from public companies easier to extract, more timely and more granular. Read this 2-page flyer on how data processing has been transformed with the use of XBRL for financial statement data.
2011
- Corporate reporting to government agencies is riddled with inefficiency, unnecessary costliness and waste - both for agencies and corporations. This paper features United Technologies in a case study that demonstrates the current process and offers up a solution involving the use of XBRL.
2010
- Read the results of a business case advocating a transformation in the way corporate actions announcements are communicated in the United States, allowing investors to receive information on such corporate actions as mergers, dividends, stock splits and other events in a more timely, accurate and less costly way, directly as specified by the issuer or [...more]
2009
- This paper discusses state-of-the-art technology issues in XBRL development and maintenance with contributions from XBRL US members.
- This white paper provides a detailed description of the complexities of the MBS marketplace and how the use of XBRL could make MBS information more transparent and functional, giving investors what they need to value the assets.
2006
- Describes the creation and results of a global data repository based on XBRL for bank institution call reports for the FDIC, OCC and Federal Reserve.
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