XBRL Data Exchange System for Financial Report Synchronization
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Solution Overview
Problem
The complexity of synchronizing and linking data elements in hypertext financial reports to meet regulatory requirements, particularly in converting between HTML and XBRL formats, leads to inefficiencies and errors due to manual translations and lack of seamless data exchange.
Innovation Solution
The XBRL Data Exchange (XDX) system and method exploit unused coding space in HTML tags to store and retrieve data-tagging information, enabling seamless conversion and synchronization between HTML and XBRL formats without information loss, using XDX Engrams to maintain data integrity and facilitate flexible movement between formats.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual translation and conversion between HTML and XBRL formats is performed, then flexibility in report preparation is maintained, but errors increase and efficiency decreases
Solution Approach 1:
The patent introduces an intermediary system (the data processing system with XBRL namespace integration) that automatically mediates between HTML and XBRL formats. This intermediary handles the conversion process systematically, ensuring data accuracy through structured XBRL schemas while maintaining efficiency through automated processing rather than manual translation.
Solution Approach 2:
The patent replaces the manual mechanical process of translation and conversion with an automated computational system. The system uses algorithms and software to perform format conversions, eliminating human error in manual processes while significantly improving preparation efficiency through automated batch processing and validation.
2Stability of the object's composition
If data elements are synchronized across multiple representations, then data consistency is improved, but system complexity increases
Solution Approach 1:
The patent implements a universal XBRL namespace that serves multiple functions simultaneously: it acts as a common data model, a validation schema, and a synchronization mechanism across different report representations. This multi-functional approach ensures data consistency without requiring separate complex systems for each function, thereby managing complexity while achieving stability.
Solution Approach 2:
The patent changes the fundamental parameter of data representation by adopting XBRL as the standardized format with defined namespaces. This parameter change enables automatic synchronization across multiple representations because the XBRL structure inherently provides the rules and constraints needed to maintain consistency, reducing the apparent complexity of the synchronization system.
3Extent of automation
If XBRL tagging is implemented in financial reports, then data processing capability is improved, but report complexity increases
Solution Approach 1:
The patent applies segmentation by dividing the financial report into distinct XBRL-tagged elements and namespaces. Each segment (e.g., balance sheet, income statement) is independently tagged with specific XBRL identifiers, allowing automated processing of individual segments while maintaining overall report coherence. This segmentation reduces the perceived complexity by organizing complexity into manageable, standardized units.
Solution Approach 2:
The patent uses copying by maintaining the original HTML report structure and content while adding XBRL tags as a parallel layer. The XBRL namespace provides a copied representation of the data in a structured format, enabling automated processing without altering the human-readable report. This copying approach allows automation benefits without significantly increasing the complexity of the original report structure.
Data Source
AI summary
A data storage medium is disclosed herein. The data storage medium, in an embodiment, includes a computer program. The computer program is executable by one or more processors to determine whether any human-readable sentences of a report document contain any pieces of information that are associated with any designated information categories. The report document has a first markup format and a unique tag associated with each of the designated information categories. The computer program is also executable to generate a detail document at least partially based on the determination. The detail document is configured in accordance with a second markup format that differs from the first markup format, and the detail document has each of the pieces of information determined to be included in any of the human-readable sentences.