You may use XBRLviewer or XBRLizer for opening XBRL Reports and visualize them directly in the native format. The software automatically synchronizes the database content with the latest reports submitted to the SEC.
You can export the current view from XBRLizer or XBRLviewer into an Excel spreadsheet that contains functions to access to the XBRL data directly into the XBRL Database. XBRL has been successfully used by the FDIC in the USA for bank regulatory reporting since 2005. Research conducted by Solvency II Wire revealed that many NCAs intend to rely on the EIOPA T4U both for their own use and as a solution for firms, but to date EIOPA has only published technical information about its XBRL work and little is known about how the T4U will be used in practice by filers (i.e. The T4U will be available for download from the EIOPA website and will operate on a Windows platform. In all three cases the tool will validate the data and generate the XBRL file, which can then be delivered to the NCA.
In line with EIOPA’s objective to ease the take-up of XBRL, the T4U is an end user interface and does not require most users to know XBRL. According to Mr Azcoaga, who has been responsible for the technical development of the T4U at EIOPA, one of the advantages of the tool, especially for smaller undertakings, is that by selecting the entity and reporting scope, the tool will provide the user with a menu of all the relevant templates that have to be completed – something that may not be self evident when only looking at the spreadsheets.
Despite industry concerns, EIOPA does not believe the tool is competing with commercial solution providers because it is limited to only delivering the final step in the process. He added that this flexibility would help EIOPA to update the taxonomy when the final QRTs are published as well as handle any future modifications of the templates. EIOPA calls XBRL reporting the “last mile” because it is only a delivery format, but as Mr Azcoaga notes, there are many challenges in the road leading to it.

Registered office: International House, 24 Holborn Viaduct, London EC1A 2BN, United Kingdom. So, check out these resources, download a free 30-day trial of the MissionKit, grab a cup of coffee, and start exploring XBRL today… and don’t forget to stop by our booth next week at XBRL US in Philly!
XBRL is a reporting format that classifies balance sheet and business information and is particularly suited for aggregating and comparing data. The technology is relatively new in Europe and to ease its take-up, EIOPA is designing a software tool aimed at NCAs and smaller undertakings. According to EIOPA’s working plans it is expected to be released in the 4th quarter this year. Manual data input: At the start the user must specify details such as the type of reporting entity (solo, group) and the scope of the reporting (annual, quarterly), the tool will then load the relevant templates. Spreadsheet import: The tool has functionality to import Excel spreadsheet files, which the user has already completed.
Internal database import: In cases where a reporting entity is using a reporting solution, the undertaking can implement routines to import their data to the internal database of the tool.
The validation process will flag up any errors, for example if the sum of balance sheet items don’t match up with the totals. So the tool can handle the preparatory phase taxonomy or the final taxonomy of Solvency II,” Mr Azcoaga, said.
Altova is sponsoring this one day workshop that is part of the conference which consists of an intensive, practical day of discussion and presentation on XBRL data, databases and opportunities for IT professionals interested in expanding their technical knowledge in the growing area of XBRL. Fortunately, the Altova Web site has everything you need to learn the intricacies of XBRL vernacular, XBRL taxonomy structure, how XBRL relates to XML, XBRL reporting, and more.

Many of these are uniquely focused toward our present and future customers – those who are familiar with XML and the other components that contribute to the XBRL standard, but have no hands-on experience with XBRL itself.
There is, of course, some overlap with terminology from the XML and business reporting worlds – handy for the handful of you with a background in both – but some of the terms are entirely new and sometimes even a little cryptic (if you don’t believe me, try looking up hypercube on Wolfram for a bit of fun). It is up to you how you define your excel sheets so you can benefit from all available XBRL information now.
The Solvency II Directive only requires National Competent Authorities (NCAs) to report to EIOPA using XBRL – it is up to the NCAs to decide whether to use XBRL to collect data from undertakings. The data is entered manually into each cell from the corresponding cell on the QRT spreadsheets. But he is keen to emphasize that the tool is only the final step in the reporting process and EIOPA strongly believes and recommends that the whole reporting process is deeply linked to the internal systems of the undertaking. As the interim reporting requirements are a subset of the full QRTs firms are seeking assurances that any investment they make now will be applicable in 2016.
Therefore, understanding the capabilities of the T4U is important for Solvency II planning. After an introduction to XBRL and the XBRL filing process, you will learn to create an extension taxonomy in the XMLSpy XML editor. Please feel free to comment here or by completing the Altova Training Survey at the end of the course.

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