XBRL (Extensible Business Reporting Language) - Wed. Feb. 11

For the the first SLA-NY Business & Finance program for 2009, Co-chairs Vicky Hall and Rita Ormsby have organized an informative session regarding

XBRL (Extensible Business Reporting Language) and its upcoming use in financial reporting

Date: Wednesday, Feb. 11, 1 to 3:30 p.m.

Location: Room 130 in The William & Anita Newman Library, Baruch College, 151 E. 25^th Street, New York.

(The Library is between Lexington Avenue and Third Avenues. The nearest subway stops are the 6 train at 23^rd St. and the N & R trains at 23^rd and Broadway.) On the following map, http://www.baruch.cuny.edu/map.html­, Building H, the Information and Technology Building, contains the Newman Library. Room 130 is on the first floor of the building. You will need to proceed down the hallway from the main entrance to stop at the security desk.

Cost: Free to SLA NY members. $30 for non-members, $10 for student non-members. (This event is being sponsored by the SLA-NY Chapter.) Checks, made payable to SLA-NY, may be sent to Rita Ormsby, Newman Library, 151 E. 25^th St., Box H-0520, New York, NY 10010, or use Paypal.

Speaker/Instructor: Prof. Clinton E. (Skip) White, Jr., a professor and area head of MIS at the Alfred Lerner College of Business & Economics, University of Delaware.

Prof. White has lectured widely about XBRL and has written two books, which are detailed at http://www.skipwhite.com/ (Copies of the books will be available for individual purchase following the session.)

RSVP: Attendance will be limited to 50.
RSVP with your member status to Rita Ormsby at rita.ormsby@baruch.cuny.edu by Friday, Feb. 6. All attendees must be on the Baruch security list in advance.

Why should you be interested in attending?

XBRL is soon to be required for financial filings made with the Securities and Exchange Commission

In December 2008, the Securities & Exchange Commission mandated a phase-in period, starting June 15, 2009, of using interactive data, which uses XBRL, for financial filings made by public companies and mutual funds with the SEC.

XBRL uses a unique tag for identifying each data element in a financial report.

The SEC’s announcement included the following:

"The availability of financial reports in the form of interactive data will transform how investors evaluate companies and securities and, more broadly, transform the relationship between the filer and the investor. Markets depend on and improve with better information, and even more so in difficult times. This action by the Commission is timely and welcome for investors in the U.S. and all over the world," according to David M. Blaszkowsky, Director of the SEC's Office of Interactive Disclosure.”

In 2008, the SEC unveiled its new financial reporting system — IDEA (Interactive Data Electronic Applications) — to accept interactive data filings and give investors faster and easier access to key financial information about public companies and mutual funds. The new IDEA system is supplementing and eventually replacing the agency's 1980s-era EDGAR database.(Please see the complete SEC announcement at http://www.sec.gov/news/press/2008/2008-300.htm. Information about the SEC’s XBRL program is at: http://www.sec.gov/spotlight/xbrl.shtml )

As SLA-NY member Louise Klusek, wrote in “XBRL Changes Financial Reporting” (Information Outlook, Dec. 12, vol. 10. 23-29):

“Instead of providing access to collections of static data, information providers will find themselves expected to facilitate access on a regular basis to fluid and changing financial information over its life cycle…. Librarians should look at XBRL as a metadata system that is helping them use the Internet to create information.”

How will this session help you?

Prof. White will tailor his presentation around the needs and questions of SLA-NY members.

Please indicate the following and email to rita.ormsby@baruch.cuny.edu by 5 p.m. Feb. 6:

What I would like to learn most about XBRL is:

The level of using sample software for “dragging and tagging” data I would like at this session is:

____I would be happy to observe this being demonstrated by Prof. White

____I would like the session to concentrate on this activity

(If you checked the second response)

____Yes, I have a laptop that I will bring to this session. (Guest access to wireless network will be accessible)

____I would prefer to use one of the 20 computers available in the room and I will be willing to share a computer.

____ My primarily interest in XBRL as an information professional is:

____ Data producer and/or purchaser of datafeeds

____Information searcher

____End user of financial statements