Comments on: Financial Leaders Disagree on XBRL in KPMG Report http://hitachidatainteractive.com/2007/06/29/financial-leaders-disagree-on-xbrl-in-kpmg-report/ XBRL News and Commentary from the Hitachi XBRL Business Unit Tue, 06 Jan 2009 13:26:34 +0000 http://wordpress.org/?v=2.6.3 By: Mike Willis http://hitachidatainteractive.com/2007/06/29/financial-leaders-disagree-on-xbrl-in-kpmg-report/#comment-2374 Mike Willis Tue, 07 Aug 2007 12:32:57 +0000 http://blog.hitachixbrl.com/2007/06/29/financial-leaders-disagree-on-xbrl-in-kpmg-report/#comment-2374 This comment is very interesting: "Peter Elwin said he was "deeply skeptical" about XBRL.  I have enough experience of data systems to know there is a huge potential to go off the rails, he said.  XBRL looks very desirable. But all it is really doing is saving me the hard graft of digging out the detail myself. It doesn't change the way the numbers were produced in the first place. " The very last sentence reflects an understanding of XBRL that may not be complete and may be simply focused on the external application of XBRL and does not include the internal application of the XBRL GL within the corporate reporting processes. With the pervasively high level of manual data access, aggregration, validation and analysis currently pervasive within 99.9% of corporate reporting processes, it appears that the economics of internal adoption to improve 'the way the numbers were produced in the first place' may be a useful topic for a future blog. Or maybe some reading of prior posts on the XBRL GL would be useful. This comment is very interesting: “Peter Elwin said he was “deeply skeptical” about XBRL.  I have enough experience of data systems to know there is a huge potential to go off the rails, he said.  XBRL looks very desirable. But all it is really doing is saving me the hard graft of digging out the detail myself. It doesn’t change the way the numbers were produced in the first place. ”

The very last sentence reflects an understanding of XBRL that may not be complete and may be simply focused on the external application of XBRL and does not include the internal application of the XBRL GL within the corporate reporting processes.

With the pervasively high level of manual data access, aggregration, validation and analysis currently pervasive within 99.9% of corporate reporting processes, it appears that the economics of internal adoption to improve ‘the way the numbers were produced in the first place’ may be a useful topic for a future blog. Or maybe some reading of prior posts on the XBRL GL would be useful.

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