Download - XBRL is for Everyone
XBRL is for Everyone
Aad BergmanBusiness 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
• Exploring the opportunities of XBRL
Observations• The situation in the Netherlands
• May 2004 – Kick Off of NTP
• Political profile - Lessen administrative burden
• Tax Office, CBS and Chamber of Commerce
Observations• Government
– Political leaders: Highly committed– XBRL Project Team: Highly committed
• Market– ISV/Others: Enthousiastic and Reluctant– Accountants : Reluctant
Observations• Government and Market working
together
• Taxonomy development
• Services architecture
Observations• The market is currently adopting XBRL
• Government, CPA’s, ISV’s and others are committing themselves
• XBRL is introduced into information flows
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
XBRL for everyone• Common external reporting standard
• XBRL based infrastructure
• Use of Taxonomy
• What to do next?
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
Internal reporting – When XBRL?• Companies with multiple offices /
business units
• Operating in multiple countries
• Different applications
• Companies with different reporting structures
Internal reporting – The solution• Corporate Reporting Scheme
• Corporate Accounting Principles
• Combine the public taxonomies with corporate taxonomies
• Not only financial data!
Internal reporting - Benefits• Reduces manual interaction
• Improves data quality
• Shortens reporting cycles
• Allows for more flexible reporting
• Improves bottom line!
External reporting – When XBRL?• External:
– When it is required– When the ISV puts it in
• Internal:– One data definition supporting multiple
information flows
External reporting – When XBRL?• External:
– When it is required– When the ISV puts it in
• Internal:– One data definition supporting multiple
information flows
Other developments• The Taxonomy as your meta data
model
• Business Rules
Other developments• XBRL General Ledger
Thank you!
Business Excellence Partners BV(Amsterdam – Rotterdam, The Netherlands)
www.bepartners.nl