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XBRL is for Everyone

XBRL is for Everyone. Aad Bergman Business Excellence Partners The Netherlands www.bepartners.nl. Agenda. Introduction Observations XBRL for Everyone. Introduction. Business Partner Group Specializing in Finance and ICT Since 3 years involved with XBRL

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XBRL is for Everyone

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  1. XBRL is for Everyone Aad Bergman Business Excellence Partners The Netherlands www.bepartners.nl

  2. Agenda • Introduction • Observations • XBRL for Everyone

  3. Introduction • Business Partner Group • Specializing in Finance and ICT • Since 3 years involved with XBRL • Exploring the opportunities of XBRL

  4. Observations • The situation in the Netherlands • May 2004 – Kick Off of NTP • Political profile - Lessen administrative burden • Tax Office, CBS and Chamber of Commerce

  5. Observations • Government • Political leaders: Highly committed • XBRL Project Team: Highly committed • Market • ISV/Others: Enthousiastic and Reluctant • Accountants : Reluctant

  6. Observations • Government and Market working together • Taxonomy development • Services architecture

  7. Observations • The market is currently adopting XBRL • Government, CPA’s, ISV’s and others are committing themselves • XBRL is introduced into information flows

  8. XBRL Adoption • From business perspective • Not because of “a new standard” . . . . . • But the promise of one common standard • From a technical perspective • It is more complicated than just XML . . . . . • But less complicated then expected

  9. XBRL for everyone • Common external reporting standard • XBRL based infrastructure • Use of Taxonomy • What to do next?

  10. XBRL for everyone • XBRL for enterprises • XBRL as a business communication standard • Internal and External communication • XBRL WILL play an important role in future information architectures

  11. Internal reporting – When XBRL? • Companies with multiple offices / business units • Operating in multiple countries • Different applications • Companies with different reporting structures

  12. Internal reporting – The solution • Corporate Reporting Scheme • Corporate Accounting Principles • Combine the public taxonomies with corporate taxonomies • Not only financial data!

  13. Internal reporting - Benefits • Reduces manual interaction • Improves data quality • Shortens reporting cycles • Allows for more flexible reporting • Improves bottom line!

  14. External reporting – When XBRL? • External: • When it is required • When the ISV puts it in • Internal: • One data definition supporting multiple information flows

  15. External reporting – When XBRL? • External: • When it is required • When the ISV puts it in • Internal: • One data definition supporting multiple information flows

  16. Other developments • The Taxonomy as your meta data model • Business Rules

  17. Other developments • XBRL General Ledger

  18. Thank you!

  19. Business Excellence Partners BV(Amsterdam – Rotterdam, The Netherlands) Aad Bergman bergman@bepartners.nl www.bepartners.nl

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