Transcript 16th XBRL International Conference

Track 3: PricewaterhouseCoopers XBRL Case Studies
Eric E. Cohen / Mike Willis
Wednesday June, 24, 2009
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“Social Analytics” – Driving market adoption
CSR Collaboration – Enhancing investment
performance
XBRL Global Ledger – Laying Down the
Foundation to Embedded XBRL
Q&A
Systems interoperable based upon common standards.
Information models, business rules, process designs, controls, etc.
articulated in standardized taxonomies and executed across software
applications
Data validation and analysis conducted by providers (at the source).
Standardization based upon information (e.g. standards based taxonomies
mapped to each software application)
Each user dictates reporting templates
User collaboration on IP relevant to reporting (information, rules, models,
presentation, relationships, etc.) templates
Business Reporting
Slide 3
Embedded:
-Information
Models
-Rules
-Presentations
Source driven Reports
Embedded:
-Information
Models
-Rules
-Presentations
Embedded:
-Information
Models
-Rules
-Presentations
ERP System
Embedded:
-Information
Models
-Rules
-Presentations
Embedded:
-Information
Models
-Rules
-Presentations
Embedded:
-Information
Models
-Rules
-Presentations
Physical Integration
Share, collaborate
and publish IP
-Information
Models
-Rules
-Presentations
XBRL Taxonomy
based:
-Information
Models
-Rules
-Presentations
ERP System
EDGAR
FDIC
Web services
Widgets
XBRL enabled IP:
- Information models
- Rules
- Presentations
- Relationships
- Others
Consumer driven reports
Transition from numerous information sources to iDP
for company reporting and analytics:
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Industry, sector, market and engagement reporting and analysis
Risk management and compliance
Heat maps and competitor analysis
Enhances and accelerates the frequency and use of reporting and
analytics
◦ Creates a collaborative workspace environment for sharing
information
◦ Accurate and timely reporting for proposal and engagement
revenue opportunity
◦ Ability to track and identify real time user usability to drive future
enhancements
Business Reporting
Slide 6
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Stakeholder identification and management
 Change management:
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IP and business models
Data sources and definition
Business requirements
Presentation models
Education and awareness around new knowledge behavior
 Developing, adopting and managing taxonomies
 Entity management
 Data contract management with integration and security
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Business Reporting
Slide 7
Current Processes
Enhanced Processes
Reinvestment to replicate system
controls and reporting with each system
change
Manual processes to work around
inflexible physical structures
Preservation of system controls and
reporting investment with each system
change
Automated processes enabling lower
costs, improved quality & timeliness
Lack of transparency of information in
reporting
Poor data quality adversely impacts
decision making
Inflexible source driven reporting
Enhanced transparency, access and
control of reporting information
Data quality Improvements as validation
rules are pushed to source
Collaborative user driven reporting
provides better access to more relevant
information
Real time access to benchmarking
content
More effective BI/CPM environment
tracking leading indicators
High cost of obtaining and using
internal/external benchmarking content
Physically integrated BI/CPM systems
tracking lagging indicators
Business Reporting
Slide 9
Customize your Industry Study by assigning NAICS code(s).
Viewing Heat Maps
When clicking the “View Heat map” button, it opens this modal
window. This is where users can select a company to compare
with heat maps.
Benchmarking metrics grouping and tree menu.
Also added option to export data to Excel.
 Questions
?
PwC
CSR Collaboration – Enhancing investment performance
Acumen Fund - Impact Reporting and Investment Standards
(IRIS) Taxonomy & Data aggregator
PwC
• Is a non-profit global venture fund that utilizes entrepreneurial
approaches to solve the problems of global poverty.
• Seeks to prove that small amounts of philanthropic capital, when
combined with large doses of business acumen, can build thriving
enterprises that serve vast numbers of the poor.
• Invests the focus on delivering affordable, critical goods and
services – like health, water, housing and energy – through
innovative, market-oriented approaches.
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In order to achieve these goals, Acumen Fund is partnering with
PwC and Hitachi to develop a “Data Aggregator” tool by which they,
and other similar funds, can benchmark and then track the success
of their CSR investment s by aggregating similar data.
To date, there are 5 others funds that will be participating in this
initiative as well as multiple stakeholders and investors that may be
impacted.
As a result, Acumen Fund was seeking assistance developing a
cross-fund taxonomy to implement in Phase 1 of the Pulse system
development and developing “Data aggregator”
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Entity information such as entity description, target
industry, target geographic location
Financial performance indicator
 such as revenues, OPEX, COGS
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Non financial indicator - Common
 # of job created (full-time, various occupation, etc)
 # of people served (family, children, minorities, etc)
 # of employees (female, full-time, youth under 30, etc)
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Non financial indicator – by target area
 # of tree planted (environmental indicator)
 Volume of carbon emission reduced (environmental indicator)
Impact Investing & reporting supply chain
Investees and Capital Recipients
Investee Investee Investee
Report performance
Investor group
Fund
Fund
Fund
investment
Foundation
the Global Impact Investing Network (GIIN)
Report performance
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IRIS leverage metrics (performance key indicator) defined in the
Global Reporting Initiative G3 guideline
 GRI: http://www.globalreporting.org/Home
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IRIS taxonomy contains “social impacting (SI)” taxonomy as plug-in
for wider and more flexible usability for any entities
World Intellectual Capital Initiative
 WICI: http://www.worldici.com/
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MD&A (US GAAP enhancement ) via WICI/EBRC effort
ESG (DVFA: Society of Investment Professionals in Germany)
 http://www.dvfa.de/home_engl/dok/35307.php
IRIS XBRL Taxonomy (v1)
Acumen Fund project - Timeline
•Timetable
Project Setup
•Accountabilities
•Requirements design and validation
Design and
Validation
•Phase 1 Taxonomy Development
•XBRL Vendor selection
•Data Migration
•Testing
Implementation
•Training
Release 1 of the Data Aggregator will allow data from Pulse and from Excel templates to be
to included into the database. SBG users will be able to benchmark and run reports
against aggregated data. In this release, no users will have access to any raw data.
Data Providers
(SBG)
End Users
Data Aggregator
IRIS Portal
IRIS XBRL
Database
PULSE
Secure
Link
FTP
Source to IRIS
Taxonomy
Mapping
Benchmarking
Reports
SBG Users
IRIS
Data Warehouse
Control Point
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Release 2 expands the base of data providers (e.g., CDFI) and provides secure access
for reference data users, like B-Lab, to obtain raw data.
Reference Data Users
Control Point
BLAB
Secure Channel
Data Providers
(Stakeholders)
Data Aggregator
End Users
IRIS Portal
DB
DB
Source to IRIS
Taxonomy
Mapping
Secure
FTP
Link
IRIS XBRL
Database
Benchmarking &
Individual Entity
Reports
Secure
Web
Service
s
IRIS
Data Warehouse
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Stakeholders
Release 3 opens access to domain data providers and non-stakeholders (potential
investors, academics, etc.). Features include sophisticated user functionality and
reporting.
BLAB
Reference Data Users
Control Point
Secure Channel
Data Providers
(Domain)
DB
DB
DB
Data Aggregator
End Users
IRIS Portal
Secure
FTP
Users within
Taxonomy Domain
Link
Source to IRIS
Taxonomy
Mapping
IRIS XBRL
Database
Secure
Web
Service
s
Secure
Channel
Benchmarking &
Investor &
Research Reports
Link
Query Tool
Customers (potential
investors, academics,
researchers, etc)
IRIS Data
Provider
Portal
IRIS
Data Warehouse
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Snapshot: Data Aggregator
(prototype)
Login
First log in
From
second log in
Invalid
User ID/Password
Data Aggregator Home Page - Sample
Report – Portfolio Performance (Acumen) Sample
Report – Performance to Peers (Acumen) Sample
Report – Portfolio Performance (Rockefeller) –
Sample
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Brian Trelstad
Chief Investment Officer, Acumen Fund
76 Ninth Avenue, Suite 315 | New York, NY 10011
[email protected]
646.747.3970
XBRL Global Ledger - Laying Down the
Foundation to Embedded XBRL
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Standardized representations of the details within ERP
systems
◦ Accounting
◦ Operations
◦ Performance metrics
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XBRL’s Global Ledger Framework
Outreach
◦ OMG – UML Profile and other works
◦ OCEG – GRC-XML
◦ And others
System 1
XBRL GL
System 2
XBRL GL
Account#
accountMainID
Description
accountMainDescription
Amount
amount
PostDate
postingDate
勘定科目番号
accountMainID
勘定科目説明文
accountMainDescription
金額
amount
転記日付
postingDate
System 3
XBRL GL
Identificador de la Cuenta
accountMainID
Descripción Principal de la Cuenta
accountMainDescription
Monto Monetario
amount
Fecha de Asignación/Ingreso
postingDate
Tax XML
SBR
Bovine Spongiform Encephalophathy
Region
Independent
Syntax
Independence
Regulator
Independent
Reporting
Independence
Syntax
Specificity
Region
Specificity
Purpose/form
Independent
Regulator
Specificity
Reporting
Specificity
Purpose/form
Specific
Source system
Specific
Source system
Independent
Questions?
Contact Information:
 Eric E. Cohen
 Senior Manager, PricewaterhouseCoopers LLP
 [email protected]
 585 271 4070
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Mike Willis
Partner, PricewaterhouseCoopers LLP
[email protected]
813 340 0932
Track 3: PricewaterhouseCoopers XBRL Case Studies
Eric E. Cohen / Mike Willis
Wednesday June, 24, 2009