The 23rd XBRL International Conference began on October 25th, and has obviously been one of the largest talking points in the industry this month. Headed by XBRL International, the conference is used a platform for some of the largest innovations in the eXtensible Business Reporting Language, and this year was no different.
XBRL International (XII) is a group that should be familiar to anyone dealing with XBRL reporting. Founded in 1998, the group was formed to improve and promote XBRL. Now, they are publicly delivering on that promise.
On October 26th, XII released the first public draft of the XBRL Abstract Model at the conference. According to the press release, published on MarketWire,
The abstract model has been developed by XII's Abstract Modelling Task Force (AMTF) as a means of establishing a common framework for communicating and understanding the XBRL technology. The abstract model provides a conceptual framework for understanding XBRL and gives developers a strong foundation for implementing XBRL solutions.
XII hopes that this model will eventually provide developers with more tools to utilize the language. The bulk of the model is comprised of “use case diagrams, class diagrams, object diagrams, and sequence diagrams,” according to the release.
This first draft is intended to give the public opportunities to comment on the model, and to provide feedback that will bring XII closer to a functional Abstract Model. Merrill Corporation is always supportive of initiatives to broaden the reach of the XBRL reporting language, and we are happy to see XII’s initial success.
Merrill Corporation is proud to offer XBRL Complete, a suite of services that meets - and has options to exceed – the mandated requirements for XBRL for mutual funds. For more information, please click here or call 866-367-9110.
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