Comments on: XBRL: The Value of Validation http://hitachidatainteractive.com/2009/12/07/xbrl-the-value-of-validation/ XBRL News and Commentary from the Hitachi XBRL Business Unit Wed, 11 Apr 2012 17:47:17 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Charles Hoffman http://hitachidatainteractive.com/2009/12/07/xbrl-the-value-of-validation/comment-page-1/#comment-45240 Charles Hoffman Tue, 08 Dec 2009 19:20:35 +0000 http://hitachidatainteractive.com/?p=864#comment-45240 Colm; I agree with you also about the benefits of validation, particularly XBRL Formula validation, as being a way to show how powerful XBRL can be. This will come when there is more XBRL instance information available, such as the SEC XBRL filings. I would point out another often missed benefit of XBRL as being the ability to exchange those XBRL Formulas. What we have seen at UBmatrix has been that people tend to not see the utility of validation because they build all the validation within their software systems or solutions. They assume they must do this. But with rules based validation which is not system specific or a one-to-one validation solution, there is no need to build the validation systems. Users can just buy an off the shelf valiator (such as UBmatrix or Fujitsu as you mentioned) and then just write the rules. Further, because the validation is not system specific (i.e. you can exchange those rules) there are additional benefits. It takes time, but people do eventually realize this. Colm;

I agree with you also about the benefits of validation, particularly XBRL Formula validation, as being a way to show how powerful XBRL can be. This will come when there is more XBRL instance information available, such as the SEC XBRL filings.

I would point out another often missed benefit of XBRL as being the ability to exchange those XBRL Formulas. What we have seen at UBmatrix has been that people tend to not see the utility of validation because they build all the validation within their software systems or solutions. They assume they must do this. But with rules based validation which is not system specific or a one-to-one validation solution, there is no need to build the validation systems. Users can just buy an off the shelf valiator (such as UBmatrix or Fujitsu as you mentioned) and then just write the rules.

Further, because the validation is not system specific (i.e. you can exchange those rules) there are additional benefits.

It takes time, but people do eventually realize this.

]]> By: frederic chapus http://hitachidatainteractive.com/2009/12/07/xbrl-the-value-of-validation/comment-page-1/#comment-45224 frederic chapus Tue, 08 Dec 2009 17:11:02 +0000 http://hitachidatainteractive.com/?p=864#comment-45224 Colm; I fully agree with your comment. XBRL formula validation is providing the XBRL key benefit: Automated validation of 1) Correctness, 2) Completeness, 3) Accuracy and 4) Consistency of busines information (financial and non-financial). I hope to have the opportunity to meet with you - again - soon! Cordially Frederic Colm;
I fully agree with your comment.
XBRL formula validation is providing the XBRL key benefit: Automated validation of 1) Correctness, 2) Completeness, 3) Accuracy and 4) Consistency of busines information (financial and non-financial).

I hope to have the opportunity to meet with you - again - soon!

Cordially
Frederic

]]> By: Colm O hAonghusa http://hitachidatainteractive.com/2009/12/07/xbrl-the-value-of-validation/comment-page-1/#comment-45216 Colm O hAonghusa Tue, 08 Dec 2009 12:53:46 +0000 http://hitachidatainteractive.com/?p=864#comment-45216 This message on Validation needs to be promoted much more widely as it eradicates many of the anti-arguments put forward by the anti-XBRL lobby, some of whom, paradoxically you might think, are very active in the XBRL community. It always reminds me of the line in the Godfather: keep your friends close, but your enemies closer! I would argue that instead of "The market needs to figure out how to exploit XBRL’s key benefits" the market needs to be shown how powerful a tool XBRL validation can be The second thing that is needed is for other software vendors other than UB Matrix and Fujitsu to add the formulas functionality to their XBRL product offering. Otherwise it will remain a too expensive option This message on Validation needs to be promoted much more widely as it eradicates many of the anti-arguments put forward by the anti-XBRL lobby, some of whom, paradoxically you might think, are very active in the XBRL community. It always reminds me of the line in the Godfather: keep your friends close, but your enemies closer!

I would argue that instead of "The market needs to figure out how to exploit XBRL’s key benefits" the market needs to be shown how powerful a tool XBRL validation can be

The second thing that is needed is for other software vendors other than UB Matrix and Fujitsu to add the formulas functionality to their XBRL product offering.
Otherwise it will remain a too expensive option

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