Using Semantic Web Technologies to Facilitate XBRL-based Financial Data Comparability
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This document discusses using semantic web technologies to improve the comparability of financial data provided in XBRL format. It describes mapping XBRL documents and schemas to RDF and OWL to represent the data and metadata semantically. This enriched semantic XBRL data can then be linked and queried to facilitate comparisons across company filings, accounting principles, and over time. The approach is demonstrated by mapping US SEC and Spanish financial filings and generating links between them.
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Using Semantic Web Technologies to Facilitate XBRL-based Financial Data Comparability
- 1. Using Semantic Web Technologies to Facilitate XBRL-based Financial Data Comparability 1st Finance and Economics on the Semantic Web Workshop, FEOSW’12 27 May 2012, Crete, Greece Héctor Carretié1, Beatriz Torvisco1, Roberto García2 1 Finances and Accounting Department Universidad Rey Juan Carlos, Spain 2 HCI and Data Integration Research Group Universitat de Lleida, Spain
- 2. Introduction • Explore Semantic Web technologies for financial information • Most public financial data available as XBRL • Reuse this data, map XBRL to RDF – Apply generic mapping: ReDeFer • XSD2OWL, XML2RDF • Once as RDF+OWL, improve comparability using semantic links
- 3. Approach • Reuse XBRL data and schemas • Facilitate round-trip: – XBRL SW XBRL • Showcase Semantic Web benefits • Test data: – SEC’s XBRL – Spanish CNMV XBRL
- 4. ReDeFer • Part of the Rhizomik initiative • ReDeFer (in and out Semantic Web) – RDF2HTML+RDFa – RDF2SVG – XML2RDF – XSD2OWL Use cases: MPEG-7, MPEG-21,…
- 5. XBRL XML to RDF • ReDeFer XML2RDF, model XML tree using triples – xsd:element and xsd:atribute rdf:Property – xbrli:id and xbrli:identifier rdf:Resource ID – Other resources, anonymous Rendered by RDF2SVG
- 6. XBRL XSD to OWL • XBRL Schemas: XBRL 2.1, US GAAP1, PGC… • ReDeFer XSD2OWL XSD2OWL mappings XML Schema OWL rdf:Property element | attribute owl:DatatypeProperty owl:ObjectProperty element@substitutionGroup rdfs:subPropertyOf element@type rdfs:range complexType owl:Class complexType//element owl:Restriction extension@base | rdfs:subClassOf restriction@base @maxOccurs, owl:maxCardinality, @minOccurs owl:minCardinality sequence, owl:intersectionOf, choice owl:unionOf Core classes and properties for XBRL Instance 1 Ontologies available from http://rhizomik.net/ontologies/bizontos
- 7. XML2RDF plus XSD2OWL • Enrich RDF with links to classes for corresponding XSD complexTypes:
- 8. Semantic XBRL • Dataset size (from US SEC) – May 2012: 125,55 million triples from 29342 XBRL filings – Available from http://rhizomik.net/semanticxbrl/
- 9. Comparability • Generate semantic links among accounting principles (XBRL taxonomies) – Automatic ontology alignment tools – Experts input – Numeric analysis • Experiment: – Telefonica S.A. Balace Sheet 2008 and 2009 • XBRL for Spanish CNMV • XBRL for US SEC
- 12. DESCRIBE ?r WHERE { ?r a ifrs:NoncurrentAssets } DESCRIBE ?r WHERE { ?r a ifrs:OtherNoncurrentFinancialAssets }
- 13. Conclusions • XBRL tools: for financial information edition and maintenance (formulae,…) XML2RDF XSD2OWL • Semantic Web tools: data integration, cross querying,… COMPARABILITY – Across filings, companies, accounting principles,…
- 14. Future Work • Generate mappings across: – Different filings for the same company – Different companies – Different accounting principles (taxonomies) • Compute common ratios • Develop demo webpps: – E.g.: show accounting data for ownership/subsidiary networks of companies, ratios…
- 15. Thank you for your attention Héctor Carretié1, Beatriz Torvisco1, Roberto García2 Contact: [email protected] http://rhizomik.net/~roberto/ 1 Finances and Accounting Department Universidad Rey Juan Carlos, Spain 2 HCI and Data Integration Research Group Universitat de Lleida, Spain