Transcript SportsStuff.com discussion

Discussion of
“SportsStuff.com—Reporting
Financial Performance in
XBRL with Assurance”
Uday S. Murthy
University of South Florida
University of Waterloo-CICA Information Systems Assurance Symposium
Toronto, Canada
October 22, 2005
Introduction & Case Overview






XML and XBRL are key technologies that
accounting students need to comprehend
Limited set of rich case-based instructional
resources available for XML/XBRL
Debreceny and White SSC case is a much-needed
addition
Case is well-written
Valuable hands-on assignments included
Complements Geerts and White (2004), which
covered XML
2
Motivation & Setup




XBRL and information supply chains
“Pre-XBRL” mechanisms for exchanging information?
What problem is XBRL trying to fix?
LOAN reporting requirement
– innovative way of “selling” the need for SSC to deploy XBRL

What about non-mandated reasons for using XBRL
– B2B information exchange
– Reengineering B2B processes

The X in XML
– How can XBRL be “extended” to incorporate reporting
requirements unique to SSC?
3
SSC Particulars
Courses in which case can be used
 Positioning within AIS course
 Sequencing relative to the Auditing
course
 Case objectives vs. learning objectives

4
SSC Particulars…contd.

Background reading
– Auditing
– XBRL attestation
 CICA
White Paper
 PCAOB Staff Q&A

Key XBRL attestation issues
– Tagging from internal acct system to XBRL
– Using appropriate taxonomy
– Point in time vs. real-time reporting
5
SSC Particulars…contd.

XBRL taxonomy used
– us-pte vs. us-gaap-ci
Presentation & calculation linkbases
 Potential use of calculation linkbases for
ensuring internal consistency (validity)
of an XBRL document

6
A model of XBRL attestation
issues
Official XBRL
Taxonomy repository
•Correct
taxonomy used?
Internal accounting
System
(XML-based)
XBRL reports
•Mapping accurate?
-- Point in time
-- Real time
•Document wellformed & valid?
•Document internally
consistent?
7
Teaching Notes
Learning objectives for each individual
assignment
 Share authors experiences in using the
cases

– Tips and tricks
– Student missteps
Assessment guidance
 Tables showing key terms

8
Instructional Benefits
Assn 1: construct well-formed XBRL
document -- reinforces XML concepts
 Assn 2: issues in providing XBRL
attestation – fuzzy, deliverables unclear
 Assn 3: independent accountant’s
report – copy and paste exercise?
 Assn 4: combines 1 and 3 – rubber
meets the road

9
Extensions

Case 1: Geerts & White
– XML
10
Extensions

Case 1: Geerts & White
– XML

Case 2: Debreceny & White
– XBRL
11
Extensions

Case 1: Geerts & White
– XML

Case 1.5: Geerts & Debreceny?
– XML-based accounting system

Case 2: Debreceny & White
– XBRL
12
Extensions & Conclusion

Assignment involving calculation
linkbases
– “calcRef” attribute?

Debreceny & White case a welcome
addition for instructors seeking to
incorporate XBRL into their courses
13