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September 20, 2005

XBRL GL 2005

The new XBRL GL 2005 Specification is a key element in the Financial Reporting Supply Chain (FRSC) with the capability of transferring large amounts of transaction related detail between systems.

The XBRL GL 2005 Specification course was hosted by Hitachi in San Francisco was lead by Hugh Wallis, XBRL International Inc., and included presentations and examples by Gianluca Garbellotto of Dyn.Acc.Sys and Nobuyuki Sambuichi of Hitachi Systems and Services, Japan.

Originally, this specification seemed destined for limited usefulness in audits, but with the new spec, some degree of modularity has been introduced. In addition to gl-gen, modules include extensions in the areas of multi-currency (gl-muc), business (gl-bus), tax audit (gl-taf), as well as saxonic accounting (gl-usk). Elements from all of these modules can be assembled through a 'compilation' process.

The key benefits of the new specification appear to be flexibility and ease of understanding based on the new modular approach, while the main drawback from adding the additional modules may be complexity.

Posted by alexfiteni at September 20, 2005 6:20 PM

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