TAXONOMY EXTENSION GENERATION AND MANAGEMENT

1 . A method of establishing a standardized financial data model, the method comprising:

receiving a credential from a first user and authenticating the first user based on the credential to permit access;

receiving a financial taxonomy extension corresponding to a financial reporting item from the first user;

receiving a financial taxonomy decision regarding the received financial taxonomy extension from a taxonomy standardization system;

determining whether the financial taxonomy extension is approved based on the received financial taxonomy decision;

adding the received financial taxonomy extension to a financial data model if, based on the received financial taxonomy decision, the received financial taxonomy decision is approved; and

displaying the financial data model to the user.

2 . The method of claim 1 , further comprising adding the received financial taxonomy extension to a customized taxonomy module corresponding to the first user if, based on the determination, the received financial taxonomy extension is not approved.

3 . The method of claim 1 , further comprising:

comparing the received financial taxonomy extension to one or more criteria; and

adding the received financial taxonomy extension to the financial data model if, based on the comparison, the received financial taxonomy extension matches the criteria.

4 . The method of claim 3 , wherein the criteria includes at least one of the following: a threshold of requests for the received financial taxonomy extensions and a taxonomy definition

5 . The method of claim 1 , further comprising:

establishing a financial taxonomy definition corresponding to the received financial taxonomy extension;

relating the received financial taxonomy extension to at least one of a stored taxonomy element and a stored taxonomy extension based on the financial taxonomy definition to establish a relationship between the received financial taxonomy extension and the at least one of the stored taxonomy element and the stored taxonomy extension; and

storing the received financial taxonomy extension and the relationship.

6 . The method of claim 5 , wherein the taxonomy definition includes at least one descriptor that describes the received taxonomy extension.

7 . The method of claim 5 , wherein the received taxonomy extension is shared to at least a second user.

8 . A server computer system for establishing a standardized financial data model, the system comprising:

a communications interface to a network, the communications interface accepting login attempts by a user from a remote network computer;

at least one storage area for program code and data;

a processor for executing the program code, wherein the program code directs the server computer to performs the functions comprising:

receiving a credential from a first user and authenticates the first user based on the credential to permit access;

receiving a financial taxonomy extension corresponding to a financial reporting item from the first user;

comparing the received financial taxonomy extension to one or more criteria; and

adding the received financial taxonomy extension to a financial data model if, based on the comparison, the received financial taxonomy extension matches the criteria.

9 . The system of claim 8 , wherein the criteria includes at least one of the following: a threshold of requests for the received financial taxonomy extensions and a taxonomy definition.

10 . The system of claim 8 , wherein the processor further performs the functions comprising:

receiving a financial taxonomy decision regarding the received financial taxonomy extension from a taxonomy standardization system;

determining whether the financial taxonomy extension is approved based on the received financial taxonomy decision; and

adding the received financial taxonomy extension to the financial data model if, based on the received financial taxonomy decision, the received financial taxonomy decision is approved.

11 . The system of claim 10 , wherein the received financial taxonomy extension is added to a customized taxonomy module corresponding to the first user if, based on the determination, the received financial taxonomy extension is not approved.

12 . The system of claim 8 , wherein the processor further performs the functions comprising:

establishing a financial taxonomy definition corresponding to the received financial taxonomy extension;

relating the received financial taxonomy extension to at least one of a stored taxonomy element and a stored taxonomy extension based on the financial taxonomy definition to establish a relationship between the received financial taxonomy extension and the stored taxonomy extension; and

storing the received financial taxonomy extension and the relationship.

13 . The system of claim 12 , wherein the received taxonomy extension is shared to at least a second user.

14 . A computer-readable storage medium having computer-readable instructions for establishing relationships between financial taxonomy extensions, the computer-readable instructions comprising instructions for:

receiving a credential from a first user and authenticating the first user based on the credential to permit access;

receiving a financial taxonomy extension corresponding to a financial reporting item from the first user;

establishing a financial taxonomy definition corresponding to the received financial taxonomy extension;

relating the received financial taxonomy extension to at least one of a stored taxonomy element and a stored taxonomy extension based on the financial taxonomy definition to establish a relationship between the received financial taxonomy extension and the stored taxonomy extension; and

storing the received financial taxonomy extension and the relationship.

15 . The computer-readable storage medium of claim 14 , wherein the taxonomy definition includes at least one descriptor that describes the received taxonomy extension

16 . The computer-readable storage medium of claim 14 , wherein the received taxonomy extension is shared to at least a second user.

17 . The computer-readable storage medium of claim 14 , further comprising instructions for:

receiving a financial taxonomy decision regarding the received financial taxonomy extension from a taxonomy standardization system;

determining whether the financial taxonomy extension is approved based on the received financial taxonomy decision; and

adding the received financial taxonomy extension to a financial data model if, based on the received financial taxonomy decision, the received financial taxonomy decision is approved.

18 . The computer-readable storage medium of claim 15 , wherein the received financial taxonomy extension is added to a customized taxonomy module corresponding to the first user if, based on the determination, the received financial taxonomy extension is not approved.

19 . The computer-readable storage medium of claim 14 , further comprising instructions for:

comparing the received financial taxonomy extension to one or more criteria; and

adding the received financial taxonomy extension to the financial data model if, based on the comparison, the received financial taxonomy extension matches the criteria.

20 . The computer-readable storage medium of claim 19 , wherein the criteria includes at least one of the following: a threshold of requests for the received financial taxonomy extensions and a taxonomy definition.