10/28/2004 Content What is CRAS CRAS Business case History of the Group. First steps The FLIPA Project Some special features and open issues DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 0 XBRL CRAS •The purpose of the Credit Risk assessment Services, CRAS, working group is to develop Credit risk assessment taxonomies that will streamline the financial risk assessment work flow for credit insurance, receivables management, factoring bonding, rating, etc. The workflow is between the information consumer and the information provider. The working group will start by developing taxonomies for credit insurance risk assessment. Specifically the working group will start by developing taxonomies for the current set of United Nations compliant electronic messages and data dictionaries developed for the credit insurance risk assessment workflows. Source: Credit Risk Assessment Services-Working Group Charter 21/11/2002. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 1 1 10/28/2004 Content What is CRAS CRAS Business case History of the Group. First steps The FLIPA Project Some special features and open issues DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 2 Information exchanges and Reporting perspectives Customers Customers Credit CreditInsurance Insurance11 Customers Customers Customers Customers Investment Investment Analysts Analysts Customers Customers Credit CreditInsurance Insurance 22 Information Information Supplier Supplier Company Company22 Company Company11 DIGITAL ACCOUNTING RESEARCH CONFERENCE Other OtherInfo Info Supplier Supplier - OCTOBER 14-15, 2004 Every ‘arrow’ is business information. Regulators Regulators Tax Tax Agencies Agencies Company Company Registry Registry Banks… Banks… Company Company33 3 2 10/28/2004 USINESS REQUIREMENTS I ¾ Business case deals about dialogues request of product – answer back. ¾ There is a product catalogue to maintain (linked to business information). ¾ Standard to be built must be international, since dialogues are between companies of different countries. ¾ There is not a regulator body for concept definitions. Industrial agreements must be used instead. ¾ Financial and non financial information share the same importance. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 ¾ 4 USINESS REQUIREMENTS II ¾ ast information is relevant. ¾ nside the same instance document, information about more than one entity is sent. ¾ ource of data and its qualifying date is relevant. ¾ here is a need of reusage of the same information structures in different parts of the report . (e.g. Addresses, names). ¾ nformation is considered to be true in the moment the report is issued. DIGITAL ACCOUNTING RESEARCH CONFERENCE ¾ - OCTOBER 14-15, 2004 5 3 10/28/2004 CRAS is slightly different Content Application •• CRAS CRAS members members reports reports information information on on other other companies companies •• XBRL XBRL usually usually used used to to report report financial financial figures figures about about the the company company XBRL is is usually usually used used to to •• XBRL produce information information produce • CRAS intends to develop an • CRAS intends to develop an end-to-end application application end-to-end including querying, querying, including answering modes,… modes,… answering XBRL CRAS The need need to to use use standard standard •• The semantic terms terms through through semantic code lists lists is is specific specific to to code XBRL-CRAS XBRL-CRAS •• XBRL XBRL allows allows the the use use of of code list list –– no no technical technical code difficulty. difficulty. •• Phase Phase 11 will will recycle recycle the the existing existing business business requirements which makes requirements which makes CRAS CRAS quickly quickly ready ready to to start start technical technical implementation implementation Business semantic & Code Lists DIGITAL ACCOUNTING RESEARCH CONFERENCE - Business Requirements OCTOBER 14-15, 2004 6 Content What is CRAS CRAS Business case History of the Group. First steps The FLIPA Project Some special features and open issues DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 7 4 10/28/2004 XBRL CRAS history ¾ Steering committee in Levallois-Perret – FR: key decision making meeting ¾ Meeting in Vienna: detailed project plan: task list, workloads and staff allocation to business, technical and liaison activities ¾ Meeting in Madrid: formal governance structure and project organization is approved 1st XBRL-CRAS meeting ¾ Meeting in Paris: working group starts its activities under XBRL International umbrella Dec 02 ICISA Business case ¾ “The XML way forward” - GREFIS / ICISA XBRL justification- NovDec/12/2002 Nov 02 XBRL-CRAS chartered ¾ Oct 02 XBRL-CRAS SOI Sep 02 ICISA Project launch Jul 03 1st XBRL-CRAS Steering 3rd XBRL-CRAS meeting Jun 03 May 03 2nd XBRL-CRAS meeting Apr 03 Mar 03 Feb 03 Jan 03 DIGITAL ACCOUNTING RESEARCH CONFERENCE “XBRL-CRAS group” approved by XBRL International for our industry (CREDIT RISK ASSESSMENT SERVICES) ¾ “Statement Of Interest” approved by XBRL International Steering Committee ¾ ICISA launches an industry project to implement XBRL and replace the existing EDI conventional workflow & the industry business case is issued (documentation available) - OCTOBER 14-15, 2004 - OCTOBER 14-15, 2004 8 Where are we? DIGITAL ACCOUNTING RESEARCH CONFERENCE 9 5 10/28/2004 Who are we? XBRL-Int’l XBRL-CRAS working group Credit Risk Assessment Services FLIPA Taxonomy Credit Insurance Business Info. suppliers Other projects welcomed! DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 10 Content What is CRAS CRAS Business case History of the Group. First steps The FLIPA Project Some special features and open issues DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 11 6 10/28/2004 Introduction FLIPA PROJECT PROJECT FLIPA XBRL-CRAS XBRL-CRAS XBRL FLIPA Goals: ¾ To define a transactional environment (end-to-end application including querying, answering modes, …) where the information interchange is made. ¾ To define the XBRL report. Main Activities: ¾ Identify Business Requirements ¾ Develop XBRL-CRAS Taxonomy ¾ Define non-XBRL components: technical infrastructure (going on) ¾ Test and implement Organization: Technical Working Group Project Management Technical Deliverables & Action Plan Business Working Group Business Deliverables & Action Plan DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 12 The project is organized in competence areas: - to deliver the key results expected from the different workstreams - to ensure right level of project governance, monitoring & coordination - to establish communication to the external world. Responsibilities of each project are detailed in appendix W. VROLIJK – GERLING NCM NL F. PEDRANZINI – D&B DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 13 7 10/28/2004 The Project team recommends a phased approach focusing on the content of BUSCRDCRC = first CRAS e-report, and to extend in 2004 with additional content items and services IDEINQ IDEANS CREINQ CREANS CREICI CREICA ICISA subsets Current EDI messages IDEINQ CREINQ CREICI IDEANS CREANS CREICA BUSCRD subsets Current EDI framework CRE CRC FSD OOR EIS service … Taxonomy based on BUSCRD-CRC ¾Company Information ¾Related entities ¾Rating ¾Key Financials,… Not A product BUT a set of components Specific extensions Technical layer allowing integration in each environment to allow end-to-end application DIGITAL ACCOUNTING RESEARCH CONFERENCE - Credit Report btw Credit Ins. Credit Report from Info Prov. EIS: Entity Identification Search CRE: Credit Report from C. Ins. CRC: Credit Report from Info. Prov. OOR: Credit Opinion Only FSD: Financial Statement Data Phase I (12/2004) XBRL CRAS Taxonomies Entity Identification Search Phase II (tbd) Services ¾Address searching ¾Monitoring service ¾Reminder ¾… New business contents Integration of new taxonomies Extension of XBRL users community OCTOBER 14-15, 2004 14 Flexibility for Eurogate members and their customers Message information non-XBRL Message information non-XBRL e-Report over XBRL Sender, Envelope Product, header ... ... Related entities Entity DIGITAL ACCOUNTING RESEARCH CONFERENCE - Key Credit Business Negative financial recomme rating events figures ndation OCTOBER 14-15, 2004 Envelope trailer … 15 8 10/28/2004 The message structure Message information non-XBRL Message information non-XBRL e-Report over XBRL Sender, Envelope Product, header ... ... Related entities Entity Key Credit Business Negative financial recomme rating events figures ndation Eurogate XBRL extension DIGITAL ACCOUNTING RESEARCH CONFERENCE … Credit Business Payment Protested recomme rating Experience bills ndation Entity - Envelope trailer Real … estate Informa XBRL Extension OCTOBER 14-15, 2004 16 In order to develop the end-to-end pilot product, the project team has identified the following workstreams to be performed… WS 0 Project Office and Steering preparation Project Office, WS 1 Project Management and Liaison team Budget and resource definition, WS 2 Business Requirements WS 3 XBRL Taxonomy development CRAS Chairmanship WG project management TWG Project Management Project Management Finalize Business Requirements Taxonomy design strategy Project reporting Design conceptual samples Data Model Champion CRAS cause Taxonomy certification Validation Rules Taxonomy Implementation Sign-off code lists Testing DIGITAL ACCOUNTING RESEARCH CONFERENCE Planning, Implementation Road map. WS 4 Non-XBRL components Technical Layer Transaction Infrastructure definition WS 5 Pilot testing & Implementation Pilot testing coordination Infrastructure SetUp Product and service handling Interoperability testing Testing Validation and signoff Quality Assurance - OCTOBER 14-15, 2004 17 9 10/28/2004 … and proposed the following planning to have the pilot application Man/days Internal External WS 0 Feb Project office and steering preparation 20 20 WS 1 Jan Project Management and Liaison activities 35 50 WS 2 Dec Business Requirements 81 0 WS 3 Nov XBRL Taxonomy development 90 52 WS 4 Oct Non-XBRL components 40 0 WS 5 Sep E-report testing / 0 266 122 Testing not included as dependant on company specific infrastructure DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 18 Content What is CRAS CRAS Business case History of the Group. First steps The FLIPA Project Some special features and open issues DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 19 10 10/28/2004 Flipa Taxonomy. Content Model Main Content Model Areas Sample Diagram Activity Business Agency Entity Name Details Identifier Address Legal Form Name Details Identifier Address Risk Assessment Financial Statements DIGITAL ACCOUNTING RESEARCH CONFERENCE - Credit Recommendation Rating Score OCTOBER 14-15, 2004 20 Flipa Taxonomy. From Content Model to XBRL 2.1 Design Tuple Design Rules Using Tuples to express information concepts that can not appear disaggregated (i.e. Manager, Activity) Nested Tuples to reuse information (i.e Identifier, Address, Name Details...) Financial Statements defined as Global Items (not Tuples) to be able to create calculation networks of this information. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 21 11 10/28/2004 Flipa Taxonomy. From Content Model to XBRL 2.1 Design (2) Presentation Roles Design Rules The Presentation Linkbase is the main guideline to create product view containers Creation of custom products based on information building blocks selecting parts from the content model i.e to create a product called Negative Information just define a new presentation extended link role that selects the tuples Entity (and the children Identifier, Address, Name Details) plus the tuple Negative Information. These definition products will not be part of the FLIPA taxonomy unless required by BWG. This feature can easily be implemented through extension taxonomies. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 22 Flipa Taxonomy. From Content Model to XBRL 2.1 Design (3) Extensible code List definition Two related taxonomies FLIPA (Core) and FLIPA-Datatypes FLIPA FLIPACORE CORE FLIPA-Datatypes FLIPA-Datatypes FLIPA-ES FLIPA-ES FLIPA-FR FLIPA-FR List ListExtension Extension DIGITAL ACCOUNTING RESEARCH CONFERENCE Local LocalList ListExtension Extension - OCTOBER 14-15, 2004 FLIPA-IT FLIPA-IT Local LocalExtension¿? Extension¿? 23 12 10/28/2004 Flipa Taxonomy. From Content Model to XBRL 2.1 Design (3) Extensible code List definition FLIPA CORE Design for code list elements 1st: define the datatype of the code: LegalFormCodeItemType (for example an extension of XBRLStringItemType) 2nd: The list of possible codes is defined as a tuple with a choice (not sequence) of 1 element between several ones: i.e: LegalFormType -> tuple -> choice 3rd: This list (tuple) is defined in The FLIPA CORE without any real codeValue, only as the skeleton or structure of this code datatype (using ONE Abstract element as unique Children i.e: LegalFormItemHead) DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 24 Flipa Taxonomy. From Content Model to XBRL 2.1 Design (3) Extensible code List definition FLIPA-Datatypes as an extension taxonomy of Flipa CORE: 1st: replace every undetermined code value of the list with real values (items) i.e: LegalForm-49 (Limited PartnerShip) as the substitution of LegalFormItemHead 2nd: Taxonomy can define any language literal through the label linkbase and may define precisely the code list being expressed through the reference linkbase. 3rd: It does not modify the datatype structure (LegalFormType is not redefined, only the range of possible values) 4th: The XBRL Mapping between items is enforced through the definition linkbase using the arc-role general-special DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 25 13 10/28/2004 Flipa Taxonomy. Use Case: Expressing relationships between Tuples Conclusions Benefits of opening the information model reported through relationships between data (mainly for Entity Information) Integrity validation: Reducing the complexity of consuming systems and applications using standard XML validation mechanisms. Flexibility to report information of several related companies in the same document. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 26 Flipa Taxonomy. Open Issues Summary of open issues Historical Information ¾ ¾ ¾ Need to express old data (old name of a company, ancient address, ancient legal forms, etc…) Need to express the source of an specific fact. Need to indicate two dates attached to a fact: (Date when the information became true, Date of source). These dates can not be expressed in context container. Internationalization (i18n). As soon as the taxonomy would get adopted it would be added the translated literals of the label linkbase. Reference. The concepts reported need to be uniquely identified based on the reference linkbase, that has to be reviewed to included this pointers to the current literature. Local Extension, taxonomy versioning and interoperation. DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 27 14 10/28/2004 Who made it? The sponsors: FLIPA Steering committee From left to right: M. Morin (Eurogate - Coface) – France M. Inami (Teikoku DataBank - Japan) M. Pedranzini (D&B Europe - FLIPA Business Working Group Ch M. Hernadez (Iberinform - Spain) M. Vaingnedroye (Bignet - Coface ORT - France) M. Nijhout (ICISA – The Netherlands) M. Buckenberger (Febis - Bürgel) M. Bouix (Coface - France) M. Watanabe (Tokyo Shoko Research) M. Bert (Atradius – FLIPA Project Director - XBRL-CRAS Chair) M. Arnaiz (CESCE – Spain – FLIPA Technical working group chai M. Tesniere (PWC - France) M. Richter (Creditreform - Germany) DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 28 Who made it? The team members Project Management ¾ ¾ Atradius PWC BERT Vincent Business Working Group - BWG (Chairman) (Assistant) Technical Working Group - TWG ¾ D&B PEDRANZINI Fabio (vice chair) ¾ ¾ CESCE INFORMA ¾ ¾ ¾ ¾ ¾ ¾ ¾ ¾ ¾ ¾ COFACE COFACE SCRL CREDITREFORM EULER HERMES EXPERIAN Atradius IBERINFORM LINCE HENRIET Benoit PERREON-SIMONOT Richard RICHTER Thomas CAMPO DIAZ MORRIS Oliver DIRKS Gregor OHLSSON ALBEA Andrès MILOVIC Milovan PARIBELLI Giovanni ROHLFS Holger ¾ ¾ ¾ ¾ ¾ ¾ ¾ BÜRGEL COFACE CREDITO Y CAUCION EULER HERMES Atradius MAPFRE COFACE-ORT ¾ UBMatrix ¾ SOFTWARE AG ¾ TSR PPA Liaison team – L. Team ¾ ¾ Atradius Global E-Commerce ARNAIZ Mariano (Chairman) FERNANDEZ Carlos (vice chair) GÖBEL Peter-Jörg de RIVOYRE Christophe GONZALEZ DE HERDIA J. SELLERBERG Klaus BENLYAZID Karim MONREAL Sergio BAILLEUX Dominique CHAMPAULT Régis SCOTT STROKEs David VAN EGMOND Raynier NAVARRO Pablo ¾HERNANDEZ Ignacio WATANABE Eiichi BERT Vincent (Chairman) RUDIE Donald DIGITAL ACCOUNTING RESEARCH CONFERENCE - OCTOBER 14-15, 2004 29 15