The highly granular nature of XBRL allows all kinds of content from facts to XBRL reports to taxonomies, to be broken down to their atomic level, and aggregated back up into the structure you choose.
To harness these capabilities, XBRL US created the XBRL Rules Processing Language (XULE), an open-source language that allows users to efficiently manage XBRL content, including facts, sets of facts, reports, and taxonomies. XULE unleashes the power of XBRL content. Explore the examples of XULE at work below.
XULE for Business Rule Generation
The structure of XBRL makes it a perfect fit to create concrete, unambiguous business rules, to check the validity of reported data. XULE leverages XBRL structure to let you create and automatically implement rules that check the accuracy of fact values and relationships, to generate better, more consistent data. XULE is used to generate Data Quality Committee (DQC) rules used by thousands of SEC filers, and that are referenced in the Financial Accounting Standards Board (FASB) US GAAP Financial Reporting Taxonomy, approved by the Securities and Exchange Commission (SEC).
XULE is also used to generate validation rules, by the Federal Energy Regulatory Commission (FERC) in their eForms Taxonomy for public utilities and other energy companies.
XULE for Rendering
XBRL files prepared in XML, JSON, or CSV can be rendered into Inline XBRL so that they are both human- and machine-readable using XULE. The Federal Energy Regulatory Commission (FERC) uses XULE to render XBRL-formatted financials submitted to them by filers. See example of rendered FERC Form.
XULE for Custom (Normalized) Data Collection
Data reported by public companies can be customized into proprietary, normalized frameworks to give data users timely, comparative, time series exactly the way you need it, for your own analysis. Organizations need data – get it in a form that can be analyzed immediately, freely available, straight from the regulator.