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 open-source processing language – XULE – that allows users to efficiently manage XBRL content, including facts, reports, and taxonomies. XULE unleashes the power of XBRL content. Explore the examples of XULE at work below.
Reports in a 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. See how one company leveraged XULE for their own custom data collection.
Rules for Business Reporting
The XBRL structure is a perfect fit to create concrete, unambiguous business rules, to check the validity of reported data. XULE leverages that structure to let you create and automatically implement rules to check the accuracy of facts and relationships, to generate consistent, better 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. The Federal Energy Regulatory Commission (FERC) uses XULE for business rules in their eForms Taxonomy for public utilities and other energy companies.
Rendering Data as Inline XBRL
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.
Interested in learning how XULE can be used in your own business? Contact firstname.lastname@example.org.