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)

Aad Bergmanbergman@bepartners.nl

www.bepartners.nl