Transcript Connecting with XBRL

Welcome from XBRL International
Report on XBRL International (XII) Activities
Kurt Ramin
Chairman – XBRL International Steering Committee
Commercial Director, IASCF
Former Partner, PricewaterhouseCoopers
Tuesday, 26 April 2005, Boston
Agenda
 Report on XBRL Activities
Internationally
 International Organization and Strategy
 Jurisdictions and Working Groups
 Projects around the world
 Next steps in the International integration
of Business and Financial Reporting
[email protected]
XBRL
<price>100</price>
RFID – Radio frequency
Identification
<unit>2</unit>
[email protected]
Standards in Financial Services
Capital Markets
Transaktional
Capital
Markets
Data
Exchange
ISO 15022,
FinXML
Banking
Real Estate
Securities Trading
SWIFTML,
FIXML, STPML
Mortgage
MISMO
Consumer &
Business
IFX, OFX
Derivatives
FpML
Securities
Vocabularies
MDDL
Real Estate
Transactions
RETML
All Financial Reporting
XBRL
Reporting
Financial
Research
RIXML, IRML
Insurance
Financial News
MarketML
Source: Copyright © 2002, ZapThink, LLC
[email protected]
Consumer & Business
ACORD
The business reporting
supply - chain
Entities: • Public Companies
• NPAEs
• Public Sector
Processes
Business
Operations
XBRL GL
Internal
Financial
Reporting
External
Financial
Reporting
taxonomies
IFRS XBRL
Financial
Publishers
and Data
Aggregators
Companies
Companies
Participants
Trading
Partners
Investment,
Lending, and
Regulation
Management
Accountants
Auditors
Software Vendors
[email protected]
Regulators
Investors
Agenda
 Report on XBRL Activities Internationally
 International Organization and
Strategy; Jurisdictions and Working
Groups
 Projects around the world
 Next steps in the International integration
of Business and Financial Reporting
[email protected]
XBRL International Governance
Board of Advisors
Established Jurisdiction Representatives
(5 to 19 members)
Not Yet Established
appoints
Committee*
DEExecutive
(7 members)
Norbert
Flickinger
ISC chair
International
CASteering
Committee
Bill
Chair: Kurt Ramin
AU
elects
Paul Phenix
Swirsky
after term expires
member of
elects
1st Vice Chair
Paul Penler
Immediate Past ISC Chair
Vacant IASB
2nd Vice Chair
Kurt Ramin
Established Jurisdiction Representatives
AU
Paul Phenix
NZ
Graeme
Sinclair
IR
Conor O’Kelly
NZ
Graeme JP
Sinclair
Vincent Bert
UK
NLChris Rodgers
Eiichi
Watanabe *
Jan Pasmooij
UK
US
Paul Penler*
ChrisIR
Rodgers
Conor O’Kelly
At Large Representatives
DE
Norbert
Flickinger
SP
Federico
Florez *
SP
Federico
Florez *
US
Paul Penler*
Korea
Korea
Belgium
Belgium
Denmark
Michael
Ohata*
John Turner
Olivier Servais
Mike
Willis
Currently
Vacant
Denmark
[email protected]
Sweden
President **
Louis
Matherne
Walter
Hamscher
Provisional Jurisdictions
Provisional Jurisdictions
Makoto
Koizumi
France
Key
Sweden
ISC Seat
ISC Representatives
IASB
Kurt Ramin
CA
Bill
Swirsky
* At Large EC
JP
NL
Walter Hamscher
Representation from ISC
Eiichi Watanabe *
Jan Pasmooij
**Standing
France
No Seat on ISC
XBRL International
Working Groups
International Steering
Operations
Committee
Accounting Chair: Kurt Ramin
Chair: Dan Roberts
Executive Committee
Vice Chair: Yossef Newman
Vice Chair – Olivier Servais
Working Groups
Basel II
Domain
Chair: Daniel D’Amico
Chair: Josef MacDonald
Vice Chair: Marc van Hilvoorde
Bylaws
Chair - Hugh Wallis
Assurance
Chair: Jan Pasmooij
Board of Advisors Selection
Vice Chair:Chair
Bill –Swirsky
Mike Willis
XII Staff*
Accounting Basel II
Assurance
Chair: Dan Roberts
Chair: Jan Pasmooij
Chair: Daniel D’Amico
Vice Chair: Yossef Newman
Vice Chair: Bill Swirsky
ISC Subcommittees
Finance
Domain
Chair – Kurt Ramin
Chair: Josef MacDonald
Vice Chair:Jurisdiction
Marc vanDevelopment
Hilvoorde
General Ledger
Solutions
Chair:
Chair: Diane
Mueller Diane MuellerChair: Michael Ohata
General Ledger
Vice Chair: Paul Snijders
Chair – Liv Watson
Nominating
Chair – Bill Swirsky
Solutions
Vice Chair – Conor O’Kelly
Chair: Michael Ohata
Product
Development
Vice Chair:
Paul
Snijders Team
Chair – Walter Hamscher
Specification
Intellectual Property Policy
Chair – Bill Swirsky
Chair: Paul Warren
Vice Chair: Cliff Binstock
Specification
Chair: Paul Warren
Vice Chair: Cliff Binstock
* Louis Matherne, President
Marisa Chung, Business Development & Operations Manager
Hugh Wallis – Standards Development
Ignacio Hernandez-Ros – Taxonomy Development
Tracey Tarinelli, Program Manager
Peter Calvert, Web Content
[email protected]
Agenda
 Report on XBRL Activities Internationally
 International Organization and Strategy;
Jurisdictions and Working Groups
 Projects around the world
 Next steps in the International integration
of Business and Financial Reporting
[email protected]
[email protected]
[email protected]
[email protected]
Agenda
 Report on XBRL Activities Internationally
 International Organization and Strategy;
Jurisdictions and Working Groups
 Projects around the world
 Next steps in the International
integration of Business and Financial
Reporting
[email protected]
Stable Platform - XBRL Specification History
 Increasing resources applied
 Increasingly thorough; Higher standards
 Elapsed time is still sobering!
External
Deadline
on 2.1
XML
Linking
Boston
Mtg.
XFRML
XBRL
1.0
10/99
6/00
2000
12/00
XML
Schema
5/01
Tampa
Mtg.
XBRL
2.0
XBRL
2.0a
12/01
11/02
2001
[email protected]
2002
Tulip
5/03
2003
XBRL
2.1
31/12
International Integration
 International Members (present in
several jurisdictions)
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Accenture
Deloitte
Ernst&Young
KPMG
PricewaterhouseCoopers

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AdobeSystems
Fujitsu
Hyperion Solutions
Microsoft
Rivet Software
SoftwareAG
Universal Business Matrix
 Members in Jurisdictions

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

[email protected]
Australia 20+
Canada 20
Germany 30+
Ireland 14
Japan 80+
Netherlands 40+
New Zealand 15
Spain 30+
UK 20+
US 50+
[email protected]
Georgian Version of IFRS
[email protected]
IFRS around the Globe (90 + countries)
 Principles based
 Rules based
 Definition based
[email protected]
[email protected]
Accounting Objects –XBRL GL
Operating
Financial Asset
Minority Interest
Other
Forward Contract
Equities
Financial
Cash
Receivable
Revenue
Inventory
Subsidiary Bond
Accounting Objects
(Journals)
PPE
Vouchers &
Cash Entries
[email protected]
Beginning Period
Ending Period
Quantity X Value
Change
Time
Statements of
Financial
Position
Quantity X Value
Statements of
Financial
Position
Operational Equity
Operational Equity
Financial Equity
Financial Equity
Other Equity
Market Value
Other Equity
Change in
Equities
Change in
Shareholder Value
Market Value
Statement of Financial Performance
For specific Business Model
Operating
Financial
Other
• Multi-level reporting per Period
• fair value
• cash flow
• accrual
• Data definitions
• accounting objects
• Enhanced business reporting
Reconciliation of valuation to cash flows with supporting disclosures !
[email protected]
Kurt Ramin
Commercial Director, IASCF
Former Partner, PwC
Global Chair – XBRL International
(e) [email protected]
[email protected]