XBRL, Integrated Reporting, Business Reporting Supply Chain

1. Value Proposition for use of XBRL
In the Business Reporting Supply Chain (BRSC)
Presented by:
Liv Apneseth Watson
Chief Product Officer & Founding Member
XBRL International, Inc.
www.xbrl.org

2. Agenda
• Some ‘problems’ with today’s business
reporting model
• What is XBRL?
• Whitepaper: Value Proposition for use of
XBRL In the Business Reporting Supply Chain
(BRSC)
• The Information Age
• Final Remarks

3. Some ‘problems’ with today’s business reporting model
• Business reporting information has no shared context
• Analysis of the information is conducted via macros that are embedded
within the applications and are not reusable by others …….
• information labels are not consistent from one application to another
• information is not independently validated
• information is not connected to other related resources across
applications
• Without a common platform data must be entered or transferred into
many different systems using proprietary software, integration portals,
and disparate solutions.
• Companies have to do the same thing multiple times and in several
different ways to meet all of the reporting requirements, increasing the
cost and complexity of the process.
• Human error can also be introduced in systems that are not automated.

4. What is XBRL?
International business information standard
• An International global membership consortium
• That developed an international business information standard; freely available
• Designed specifically to address pervasive business reporting process problems
• Mandated by economics and regulators
• “Bar Code” for Business Information
• Adds structure (meaning) to company disclosures
• Enhances information processing, reuse, analysis and reporting
• Disclosure neutral
• Taxonomies available for: Indian/US/IFRS GAAP, other statutory GAAP,
MD&A, CSR, GRI, Proxy, Corp Actions, Carbon Disclosure, Micro Finance,
Legers/sub-systems, other non-financial concepts
PwC 4

5. What is an XBRL Taxonomy– More Than Just Definitions
Presentation
Presentation
Presentation
Presentation
Presentation
Standardization Presentation
现金与现金等价物
Деньгиenїх etэквиваленты
Comptant Comptant
Kas Geldmiddelen
現金及び現金等価物
Cash та Geld nahe Mittel
Geld &и ихEquivalents
Гроші & Cashеквіваленти
Equivalents
Label References
GAAP I.2.(a)
cashCashEquivalentsAndS
Instructions
hortTermInvestments
Ad Hoc disclosures
XBRL
Item
<200>
Calculation
Cash = Currency + Formulas
Deposits Cash ≥ 0
Contexts
US $
FY2004
Validation Budgeted

6. Whitepaper: The Value Proposition for use of XBRL In the Business Reporting Supply Chain
Additional Whitepapers:

7. Value Proposition for use of XBRL in the
Business Reporting Supply Chain (BRSC)
• This paper shows how
XBRL provides a common • Eric Cohen
communication platform • Margaret Long
that can create efficiency,
accuracy, and costs • Rick Plotka
savings at each stage in • Dan Roberts
the business reporting • Elisabeth Scherr
supply chain if used • Liv Watson
strategically.
(in alphabetic order)
• The audience of this
paper is creators and
users of business
reporting data.

8. The Business Reporting Supply Chain
Process and Participant Stakeholders
Processes XBRL
< IIRC, CSR & ESG Data > XBRL
Financial Statements
Suppliers & Subsidiaries GL, the Journal Taxonomy and
and Non-Financial
Non-Financial XBRL Data
Integrated Reporting
Internal External Investment,
Business Economic
Business Business Lending,
Operations Policymaking
Reporting Reporting Regulation
< Financial Data >
Participant Stakeholders
Financial
NGOs, Community Groups,
Publishers Central
Companies Investors
and Data Banks
Associations
Aggregators
Trading Management Auditors Regulators
Partners Accountants
Software Vendors
Source: XBRL International, Inc.

9. Participants of the BRSC

15. Benefits of XBRL in the BRSC

16. Source: Mike Willis, PwC

18. INTEGRATED Investment Stakeholder – is
REPORTING Community anyone who can
STAKEHOLDER Infomediaries
influence or is
INTEGRATED REPORTING STAKEHOLDERS ECOSYSTEM
ECOSYSTEM influenced by the
organization
EXTERNAL
STAKEHOLDERS
Subsidiaries
Investment
Community
Institutional Investors
Retail Investors
Infomediaries
Media
Social Media Overseers
Data Aggregators
Financial Publishers
INTERNAL
Overseers
STAKEHOLDERS
Regulators
Lawmakers
Policy Makers
Central Banks
NGOs
Community Groups
Associations
Service Providers
External Auditors
External Legal
Professional Services
Technology Vendors
Trading Partners Service
Providers
INTERNAL
STAKEHOLDERS
Management
Employees/Staff
Board/Governance Source: Brad Monterio & Liv Watson

19. Management Teams DASHBOARDS & OUTPUT
(CEO, CFO/Finance, One Integrated Reporting Process Management Teams
Operations, Sales &
Marketing, IR) (CEO, CFO/Finance,
Operations, Sales &
Marketing, IR)
ONE REPORT
Accountants
Accountants
Attorneys
THE CLOUD
Attorneys SUPPORT
Other External
Advisors
Other External
Advisors ONE DATA SET
Access Controls and
Permissioning
Other Stakeholders (e.g.,
Board, Investors, Regulators)

20. You’re Only as Green
as Your Supply Chain

21. Final Remarks
• Chartered Accountants “WAKE UP” XBRL is changing the way you
author data.
– Do not get left behind.
• XBRL is not just about financial reporting
– GRI, ESG, KPI, Microfinance, Impact Reporting, TATA CSR Index ect….
• XBRL Taxonomies MUST be XBRL compliant with the XBRL
Specification
• XBRL Application MUST be XBRL Compliant with the XBRL
Specification

22. See you in Abu Dhabi, UAE
• XBRL 24th International Conference
• Theme: Transparency: Available, Reliable,
Comparable & Re-usable Data”
• When: 20-22 March 2011
• Where: The Yas Hotel & Conference Centre

23. Liv Apneseth Watson
Chief Product Officer and Founder, XBRL International. Inc.
. Member of the Board of Directors, MediaTenor
Liv has over 30 years of experience, in finding Member of the Board of Directors, Institute of
innovative ways to bring together technology, Management Accountants (IMA)
accounting and financial and business reporting. Member of IASC Foundation XBRL Advisory Council
Working globally with leading market regulators, Vice Chair of the Institute of Management Accountants
accounting associations and institutions, Ms. Watson XBRL Working Group
has traveled to over 80 countries presented XBRL to a XBRL International Steering Committee Member
wide range of audiences from international standards
bodies to Fortune 1000 companies and speaks with Vice Chair of XBRL International Membership Working
authority about its benefits, potential applications, and Group
broad adoption. Past Vice Chair of XBRL International, Inc.
Liv authored one of IMA's most successful CPE courses Past Chair of the XBRL US Adoption Committee
"Accounting System Technology for the 21st Century". Past Vice Chair of the XBRL US Jurisdiction
She has also published several articles for international Advisory Board Member – University of Southern Indiana
publications and journals including Harvard Business Advisory Board Member – University of Albany, New York
Review, Strategic Finance. She also writes a monthly Advisory Board Member - International Journal of
column of financial and business reporting trends for Disclosure and Governance Editorial
CPA2Biz.
She is the co‐author and contributor author to several
of books including “XBRL for Dummies” and
Governance, Risk, and Compliance Handbook
published by Wiley.