OMG's Standard Business Report Model (SBRM), 1.0 – beta 1 v

There are now three converging logical conceptualizations of business information:

XBRL has been around since 2000 but never defined the business report model particularly well.  I tried to get such a logical conceptualization documented since about 2008.  I created my first logical conceptualization of a financial report, a specialization of the more general business report starting, in about 2012 which evolved to what I now call my Seattle Method.  OMG came up with the idea of the Standard Business Report Model (SBRM) in about December 2018 at a Financial Information Business Ontology (FIBO) meeting where I did a presentation on XBRL. OMG describes SBRM such:

"The Standard Business Reporting Model (SBRM) provides a set of modeling constructs for representing business and regulatory reporting that are reusable in different modeling and data deployment environments. It acts as a Platform Independent Model for report documents and data structures, complementing established platform-specific models such as eXtensible Business Reporting Language (XBRL)."

OMG has published Standard Business Report Model (SBRM), 1.0 - Beta 1v and is requesting feedback. Here is the specification in PDF format.  Anyone can provide feedback on this specification whether you are a member of OMG or not.  You can provide feedback here.

The most interesting thing here is that a focus on LOGIC rather than technical format is enabling the capability to convert the representation of the LOGIC to a wide variety of technical formats.  Because there are thousands and thousands of XBRL-based financial reports, again a specialization of the more general business report; reverse engineering a logical conceptualization of the financial report and business report models became possible.  What that means is that you can convert between technical formats by leveraging the logical conceptualization which is inherent in each technical format.

Accounting has been around for thousands of years and there is no real dispute over the high-level semantics of financial information.  This agreement can be leveraged to back into a rock solid logical conceptualization of a business report.  Financial report logic does not change when the technical format, the technical "envelope" that conveys that information, changes.

What all this means is that a theory can be created, tested, and proven.  Then that theory, once proven, tested, and, calibrated; can be turned into a framework. That framework offers the possibility of modern accountancy.  That means freedom from drudgery for bookkeepers, accountants, auditors, analysts, and other business professionals; enabling them to focus on higher value add activities.

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