The Birth and History of Development in XBRL

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Background of the birth of XBRL

April 1998 Charles Hoffman, a CPA with the firm Knight Vale and Gregory in Tacoma, Washington started to investigate XML for the electronic reporting of financial information. Charles began developing prototypes of financial statements using XML.
September 1998 Charles informed Wayne Harding, Chairman of the AICPA High Tech Task Force about the potential of using XML in financial reporting. Wayne asked Charles to brief the AICPA High Tech Task Force on XML. The AICPA High Tech Task Force created a "Product Description" proposing the creation of a prototype set of financial statements using XML by the AICPA. Karen Waller, CPA and AICPA staff, helped perfect this product description.
October 2, 1998 Wayne Harding presented the results of the High Tech Task Force to the AICPA Committee on Committee Organization. As a result of this presentation, the AICPA decided to fund the project to create a prototype set of financial statements in XML.
December 31, 1998 The prototype was completed. It was developed by Charles Hoffman and Mark Jewett from Erutech with a fund from AICPA. Jeffery Ricker from XML Solutions contributed to the initial prototype. The CPA firm of Knight, Vale and Gregory, underwrote 50% of the development cost of this initial prototype.
January 15, 1999 This prototype was presented to the AICPA. Wayne Harding and Charles Hoffman convinced the AICPA that XML was important to the accounting profession. The AICPA requested that a business plan be prepared to look into the business case for XML and in particular XML-based financial statements. The project was code named XFRML (Extensible Financial Reporting Markup Language).
June 15, 1999 That business plan was completed. This business plan was created by Charles Hoffman, CPA (Independent CPA); Wayne Harding, CPA (Great Plains); Eric Cohen, CPA (Cohen Computer Consulting); and Louis Matherne, CPA (AICPA Director of I.T.).
July 1999 Charles Hoffman created an Experimental Prototype of XFRML. The AICPA Board of Directors determined to fund the XFRML effort.
August 1999 12 companies quickly joined the effort (along with the AICPA) as members of the XFRML Steering Committee. The initial steering committee included: The AICPA, Arthur Andersen LLP, Deloitte & Touche LLP, e-content company, Ernst & Young LLP, FreeEDGAR.com, Inc. (now Edgar Online, Inc.), FRx Software Corporation, Great Plains, KPMG LLP, Microsoft Corporation, PricewaterhouseCoopers LLP, and The Woodburn Group. The AICPA began implementing the business plan and announced that an XML financial reporting specification would be created.
October 1999 The financial statements of 10 companies were created to further test the concept of XML-based financial statements. The first meeting of the XFRML Steering Committee took place in the offices of the AICPA New York City.

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