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What is the difference between a Taxonomy and an Ontology? - OWL Knowledge

Q. What is the difference between a Taxonomy and an Ontology? A. Not much.

XBRL: the Solution for Carbon Credit and Smart Grid Accounting

During the State of the Union speech, President Obama made formal an assumption that had been emerging since his candidacy - his support for a carbon market as a vehicle for capping carbon emissions:

XBRL Becomes Mandatory - This Should Be Interesting

The announcement came quietly, a briefly worded memo from the SEC in December that as of the the third fiscal quarter of 2009 (starting in June), companies over $5 billion in assets would be required to start reporting their earnings using the Extensible Business Markup Language, or XBRL. Other companies would be required to follow suit according to whether they use GAAP (which have a one year grace period) or IFRP (starting 2011).

Will Obama's Technology Push Extend to Financial Regulators?

Obama's technology-savvy election team worked very effectively to leverage a new world order of YouTube, social networking, and blogging tools to promote his agenda, connect with a nation of voters, and raise campaign funds. But does he really know what...

A sketch on recasting XBRL in Schematron

In the next few years a lot of people will be generating XBRL documents, in particular for financial filings to regulators. And a few years later a lot of people will be figuring out what to do with all that data too..I decided to take a look at whether XBRL could, keeping the same instance syntax and concepts, have a schema language transplant so that Schematron was used instead of XSD....

Regulatory Transparency and XBRL

A tectonic shift is taking place in the economy right now, one that is punishing those that have been most abusive of the trust of customers, investors, governments and the taxpayers in those governments. XBRL (the XML Business Reporting Language) has the potential to help renew that trust.

The derivatives crisis and standards

We hear a lot of talk about Web 2.0, but has the financial sector even got to Web 1.0, really? Lets take two key things: first, that data interchange should be rich, and second that everything important should be identified. But unless there is an accounting standards emphasis towards objective valuation, we can have all the good standards for financial data interchange we like, and it we won't have reduced society's risk nor improved evidence-based management.