XBRL SYSTEMS SOLUTIONS comprises two
elements, XBRL Convergence and XBRL
Gears.
XBRL Convergence (XC)
The prototype of XBRL Convergence
(XC) is the Convergence Assistant
(CA), conceived in 2007 as a tool to
help Canadian businesses understand
the implications of the transition
from local GAAP to IFRS.
The CA soon became one of the
first publicly available
applications that leveraged the
power of XBRL Global Ledger to allow
a business to map its own chart of
accounts to the GIFI, a standard
chart of accounts used in Canada. It also
leveraged the pre-defined mappings
(expressed as XBRL GL instances)
between the GIFI itself and both the
Canadian GAAP Taxonomy and the IFRS
Taxonomy to generate the two sets of
XBRL instance documents and
automatically reconcile them.
XC applies the same principles to
any standard chart of accounts, and
to any taxonomy. Underpinning the
robust utility of the XC is
WikiAccounts, a freely
available, global knowledge base
that includes sets of standard
accounts and their mappings to
multiple XBRL taxonomies.
XC will deploy the content
libraries created in WikiAccounts
by:
- Mapping a
business COA to one of the
standardized COAs downloaded
from WikiAccounts;
- Leveraging
the standardized mappings to end
reporting XBRL taxonomies — also
downloaded from WikiAccounts —
to create and reconcile XBRL
reports for corporate internal
and external reporting purposes.
XBRL Gears
XBRL Gears is an application
designed to deploy the content
libraries created in
WikiLogics by:
- Converting
the business corporate data to
the standardized XBRL GL format;
- Execute
the standardized controls and
business rules downloaded from
WikiLogics on the corporate data
standardized with XBRL GL, and
support common data monitoring,
auditing and business
intelligence processes.
The release of XBRL Gears is
scheduled on April 1, 2012.