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| The Standard Business Report Model (SBRM) is a standardization initiative launched under the aegis of the [[https://www.omg.org/bmi|Business Modeling & Integration Domain Task Force]] at the end of 2018. The purpose of this wiki is to support the work of people involved in this, who de facto constitute a Working Group (OMG Policies & Procedures do not strictly specify how a working group is formed or governed). | The Standard Business Report Model (SBRM) is a standardization initiative launched under the aegis of the [[https://www.omg.org/bmi|Business Modeling & Integration Domain Task Force]] at the end of 2018. The purpose of this wiki is to support the work of people involved in this, who de facto constitute a Working Group (OMG Policies & Procedures do not strictly specify how a working group is formed or governed). | ||
| + | |||
| + | ==== 1. Rationale and Mission ==== | ||
| + | |||
| + | The rationale for the creation of SBRM is that the XBRL language (and "inline XBRL") define a standard for a machine-readable format of a business report, but do not specify standard semantics. For example, a valid XBRL file does not have to be balanced -- the sums of assets and liabilities of a company are not necessarily equal. A semantically complete standard would allow the report designer to express that a certain value must be equal to the sum, difference, product, or ratio of some other items contained in the report; or that a certain item cannot be blank if another item has a negative value; etc. | ||
| + | |||
| + | Further, the creation of SBRM responds to the needs of various regulatory agencies, sometimes codified in various legislative acts of countries, states or provinces, to provide reports that are devoid of basic errors -- up to and including reports that "do not add up." | ||
| + | |||
| + | ^ Charter ^ | ||
| + | | The OMG Standard Business Report Model (SBRM) Working Group was formed to lead the work to solicit and adopt specifications for a common report metamodel, an ontology, and other related specifications it will deem necessary to advance the state of digital business reporting.\\ \\ The SBRM WG will pursue its objective through the creation of discussion papers, the preparation of an RFP, and the submission of specifications for evaluation and adoption. The SBRM WG will work in close cooperation with other OMG subgroups, including but not limited to the Business Modeling and Integration Domain Task Force (BMI DTF) and the Finance Domain Task Force (FDTF), to pursue successful technology adoption according to OMG Policies & Procedures.\\ \\ The Standard Business Report Model shall address the broader reporting needs of the business community, not limited to the financial domain or to U.S. organizations, laws and regulations.\\ \\ The SBRM WG will leverage its members’ connections with various organizations, including government authorities worldwide and other standards groups, in promoting the adopted technologies in order to generalize and streamline digital business reporting.\\ \\ The WG will consider the following in its work:\\ * The existing work and body of knowledge related to the eXtensible Business Reporting Language (XBRL), so that business reports that conform to the model can be expressed in the XBRL and Inline XBRL syntaxes.\\ * Existing and upcoming OMG standards such as the Ontology Definition Metamodel (ODM), the Unified Modeling Language (UML), the Business Architecture Core Metamodel (BACM), and others.\\ * The report requirements embodied in various laws and regulations, such as (but not limited to) the U.S. DATA Act of 2014 and the U.S. Government Accountability Office (GAO) Report 18-138.\\ * The need for business professionals to understand the documentation provided for the model such that they can effectively verify the accuracy of the model. | | ||
| Here is a summary of the timetable of the SBRM effort: | Here is a summary of the timetable of the SBRM effort: | ||
| * The group was formed at the end of 2018 | * The group was formed at the end of 2018 | ||
| * A mailing list was created in January 2019 | * A mailing list was created in January 2019 | ||
| - | * A Request for Proposals (RFP) was developed and issued | + | * A Request for Proposals (RFP) was developed and issued through the BMI DTF in June 2019 |
| * An initial submission was made by Adaptive, represented by Pete Rivett | * An initial submission was made by Adaptive, represented by Pete Rivett | ||
| * Some of the impetus for SBRM came from the prospect of the adoption by the U.S. Congress of a Financial Data Transparency Act (FDTA), an effort that was delayed multiple times between 2019 and 2022 | * Some of the impetus for SBRM came from the prospect of the adoption by the U.S. Congress of a Financial Data Transparency Act (FDTA), an effort that was delayed multiple times between 2019 and 2022 | ||
| Line 16: | Line 25: | ||
| * In early 2023, based on the interest manifested by some new companies, the process was once again reopened to allow them to participate | * In early 2023, based on the interest manifested by some new companies, the process was once again reopened to allow them to participate | ||
| * The new deadline for letters of intent passed on 23 June 2023 | * The new deadline for letters of intent passed on 23 June 2023 | ||
| + | * A series of meetings was convened in the summer of 2023 to allow discussion of SBRM principles, use cases, how to gain traction, etc. | ||
| * The current deadline for an initial submission is 6 November 2023 | * The current deadline for an initial submission is 6 November 2023 | ||
| * The current deadline for revised submissions is 20 May 2024 | * The current deadline for revised submissions is 20 May 2024 | ||
| - | |||
| - | ==== 1. Rationale and Mission ==== | ||
| - | |||
| - | The rationale for the creation of SBRM is that the XBRL language (and "inline XBRL") define a standard for a machine-readable format of a business report, but do not specify standard semantics. For example, a valid XBRL file does not have to be balanced -- the sums of assets and liabilities of a company are not necessarily equal. A semantically complete standard would allow the report designer to express that a certain value must be equal to the sum, difference, product, or ratio of some other items contained in the report; or that a certain item cannot be blank if another item has a negative value; etc. | ||
| - | |||
| - | Further, the creation of SBRM responds to the needs of various regulatory agencies, sometimes codified in various legislative acts of countries, states or provinces, to provide reports that are devoid of basic errors -- up to and including reports that "do not add up." | ||
| - | |||
| - | ^ Charter ^ | ||
| - | | The OMG Standard Business Report Model (SBRM) Working Group was formed to lead the work to solicit and adopt specifications for a common report metamodel, an ontology, and other related specifications it will deem necessary to advance the state of digital business reporting.\\ \\ The SBRM WG will pursue its objective through the creation of discussion papers, the preparation of an RFP, and the submission of specifications for evaluation and adoption. The SBRM WG will work in close cooperation with other OMG subgroups, including but not limited to the Business Modeling and Integration Domain Task Force (BMI DTF) and the Finance Domain Task Force (FDTF), to pursue successful technology adoption according to OMG Policies & Procedures.\\ \\ The Standard Business Report Model shall address the broader reporting needs of the business community, not limited to the financial domain or to U.S. organizations, laws and regulations.\\ \\ The SBRM WG will leverage its members’ connections with various organizations, including government authorities worldwide and other standards groups, in promoting the adopted technologies in order to generalize and streamline digital business reporting.\\ \\ The WG will consider the following in its work:\\ * The existing work and body of knowledge related to the eXtensible Business Reporting Language (XBRL), so that business reports that conform to the model can be expressed in the XBRL and Inline XBRL syntaxes.\\ * Existing and upcoming OMG standards such as the Ontology Definition Metamodel (ODM), the Unified Modeling Language (UML), the Business Architecture Core Metamodel (BACM), and others.\\ * The report requirements embodied in various laws and regulations, such as (but not limited to) the U.S. DATA Act of 2014 and the U.S. Government Accountability Office (GAO) Report 18-138.\\ * The need for business professionals to understand the documentation provided for the model such that they can effectively verify the accuracy of the model. | | ||
| - | |||
| - | The SBRM Working Group has developed an RFP, which was issued through the Business Modeling & Integration (BMI) Domain Task Force in June 2019, and will assist the BMI DTF in evaluating responses. | ||
| ---- | ---- | ||
| Line 34: | Line 33: | ||
| ==== 2. Participants ==== | ==== 2. Participants ==== | ||
| - | The current members the Working Group are: | + | The original members of the Working Group were: |
| - | * OMG members and staff: | + | * **Pete Rivett*** -- then with Adaptive |
| - | * **Pete Rivett*** -- Adaptive | + | * **Elisa Kendall*** -- Thematix (now also representing the EDM Council) |
| - | * **Elisa Kendall*** -- Thematix | + | * **Mike Bennett*** -- EDM Council (now the Technical Director of OMG) |
| - | * **Mike Bennett*** -- EDM Council | + | * **Richard Beatch** -- Bloomberg (no longer an OMG member |
| - | * **Richard Beatch** -- Bloomberg | + | * **Steve MacLaird** -- OMG |
| - | * **Steve MacLaird** -- OMG | + | * **Bobbin Teegarden** -- OntoAge |
| - | * **Bobbin Teegarden** -- OntoAge | + | * **Lars Toomre*** -- Brass Rat Capital LLC |
| - | * **Lars Toomre*** -- Brass Rat Capital LLC | + | * **Claude Baudoin*** -- cébé IT & Knowledge Management |
| - | * **Raynier** (aka René) **van Egmond*** -- XBRL Consulting Partners LLC | + | * **Charles Hoffman,** CPA -- University of Washington //(not an OMG member)// |
| - | * **Claude Baudoin*** -- cébé IT & Knowledge Management | + | * **Dean Ritz** -- then with Workiva, now with the Data Foundation //(not an OMG member)// |
| - | * supports this wiki and other logistical aspects, and provides the liaison with the BMI DTF, which he co-chairs | + | * **Raynier** (aka René) **van Egmond*** -- XBRL Consulting Partners LLC //(not an OMG member)// |
| - | * Non-OMG members: | ||
| - | * **Charles Hoffman,** CPA -- University of Washington | ||
| - | * **Dean Ritz** -- Workiva | ||
| - | |||
| - | *authorized to edit this wiki | ||
| ---- | ---- | ||
| Line 59: | Line 53: | ||
| A presentation on SBRM, **and vote to issue the RFP**, took place at the OMG Technical Meeting week in Amsterdam, NL, on Wednesday, June 19, 2019. | A presentation on SBRM, **and vote to issue the RFP**, took place at the OMG Technical Meeting week in Amsterdam, NL, on Wednesday, June 19, 2019. | ||
| + | |||
| + | The following meetings were held during the summer of 2023: | ||
| + | * Hybrid joint meeting (BMI, Financial Services, and Government Domain Task Forces) on June 21 | ||
| + | * Teleconferences on July 3, July 10, July 24, August 7, and August 14 | ||
| + | |||
| + | Notes from the June 21 meeting appear in the [[https://www.omg.org/members/cgi-bin/doc?bmi/23-06-08.pdf|BMI DTF Q2 2023 meeting report]]. Notes from the 5 teleconferences, including some audio or video recordings, appear in [[https://docs.google.com/document/d/1hwQKmKRqmaxNQp5L7g_ZT2M5GTkTsBTMMHzTYs3i5wc/edit?usp=sharing|this shared Google Doc]]. | ||
| ---- | ---- | ||
| Line 64: | Line 64: | ||
| ==== 4. Deliverables ==== | ==== 4. Deliverables ==== | ||
| - | The official RFP, which has now been formally issued by OMG, is available with document number bmi/2019-06-04 on the OMG website here https://www.omg.org/cgi-bin/doc?bmi/2019-06-04. | + | The RFP is available as [[https://www.omg.org/cgi-bin/doc?bmi/2019-06-04|OMG document bmi/2019-06-04]]. |
| A status report on the progress of the submission was given at the September 2019 meeting (Nashville). | A status report on the progress of the submission was given at the September 2019 meeting (Nashville). | ||
| - | |||
| - | The revised schedule is to have initial submissions presented in December 2019 (Long Beach) with adoption in March 2020 (Reston, Va.). | ||
| A [[https://www.omg.org/intro/SBRM.pdf|data sheet summarizing SBRM]] was created in April 2019. | A [[https://www.omg.org/intro/SBRM.pdf|data sheet summarizing SBRM]] was created in April 2019. | ||
| An [[http://xbrlsite.azurewebsites.net/2019/Prototype/sbrm/Home.html|Overview of SBRM]] was created by Charlie Hoffman. It consists of 9 parts: Terms, Axioms, Associations, Narrative, Primer, Method, Technical, Examples, Conformance Suite. | An [[http://xbrlsite.azurewebsites.net/2019/Prototype/sbrm/Home.html|Overview of SBRM]] was created by Charlie Hoffman. It consists of 9 parts: Terms, Axioms, Associations, Narrative, Primer, Method, Technical, Examples, Conformance Suite. | ||
| + | |||
| + | === The "11 Terms" === | ||
| + | |||
| + | In parallel with the SBRM effort, OMG responded in Q2 2019 to a request from ... for a definition of certain terms related to financial reporting, for the purpose of defining those concepts in the background documents supporting the Financial Data Transparency Act. These terms and their definitions appear below. | ||
| + | |||
| + | //(to be completed)// | ||
| ---- | ---- | ||
| Line 78: | Line 82: | ||
| ==== 5. Call for Participation ==== | ==== 5. Call for Participation ==== | ||
| - | We have a mailing list, [[[email protected]]]. If you join the SBRM WG, you will be added to the distribution. To ask to be added to the mailing list manually, or to unsubscribe, please [[[email protected]?subject=SBRM%20mailing%20list|click here]], state your request in the message, and press Send. | + | We have a mailing list, [[[email protected]]]. If you join the SBRM WG, you will be added to the distribution. |
| + | |||
| + | If you are an OMG member and know your login credentials, you can [[https://www.omg.org/members/mymailinglists.htm|manage your own OMG mailing list subscriptions]]. | ||
| + | |||
| + | Otherise, to ask to be added to the mailing list manually, or to unsubscribe, please [[[email protected]?subject=SBRM%20mailing%20list|click here]], state your request in the message, and press Send. | ||
| Participants //who represent an OMG member company// can be provided upon request with accounts to edit this wiki directly. Please contact [[[email protected]?subject=OMG%20SBRM%20Wiki|Claude Baudoin]] for help. This wiki is based on the Dokuwiki platform, which has a different markup language from Mediawiki (the Wikipedia platform). See the [[https://www.dokuwiki.org/wiki:syntax|Dokuwiki syntax]] before attempting more than simple plain text edits. | Participants //who represent an OMG member company// can be provided upon request with accounts to edit this wiki directly. Please contact [[[email protected]?subject=OMG%20SBRM%20Wiki|Claude Baudoin]] for help. This wiki is based on the Dokuwiki platform, which has a different markup language from Mediawiki (the Wikipedia platform). See the [[https://www.dokuwiki.org/wiki:syntax|Dokuwiki syntax]] before attempting more than simple plain text edits. | ||
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