Horngren’s Cost Accounting A Managerial Emphasis, Canadian 9th edition soluti...
XBRL Ficpa May 29 2009
1. Neal Hannon Senior Consultant, XBRL Strategies The Gilbane Group [email_address] FICPA Annual Accounting and Business Show Orlando May 27 2009 FICPA XBRL Entering The Digital Age
3. Point #1 XBRL is Accounting chopped into structured pieces
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13. First SEC Mention of XBRL XBRL Committee Encouraged by SEC Chairman Arthur Levitt's Recommendation That It be Expanded and Used by Investors and Companies Business Wire , Oct 30, 2000 Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 30, 2000 In remarks last week, Arthur Levitt, Chairman of the Securities Exchange Commission (SEC), acknowledged XBRL and recommended its further development to turn financial statements into meaningful information for investors using this new revolutionary technology. Chairman Levitt's remarks were made at the American Institute of Certified Public Accountants' (AICPA) Fall Council Meeting in Las Vegas, Nevada on October 24, 2000.
17. Do You Remember Vinyl Records? Had to Play from start to finish Record could be damaged if you attempted to play a specific track.
18. Vinyl Records And Disclosures Similarly , Financial statements, notes and disclosures today are meant to be read and understood as a whole. Audit opinions are given on the entire set of financials. The paper-based, report centric world lives on.
29. Scope and Role of XBRL External Financial Reporting Business Operations Internal Financial Reporting Investment, Lending, Regulation Processes Economic Policymaking Participants Auditors Trading Partners Investors Financial Publishers and Data Aggregators Regulators Software Vendors Management Accountants Companies Central Banks XBRL for G/L Journal Entry Reporting XBRL for Financial Statements XBRL XBRL XBRL XBRL
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31. "The goals were timely and accurate data,“ said Wallin, "stronger internal controls, reduced costs, a standardized system of seamless data exchange, business processes and data elements. XBRL met all of those goals."
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33. Have you ever wondered which specific US GAAP authoritative literature stands behind each item on your company’s SEC disclosures? A US GAAP XBRL Taxonomy has the answer Ever wonder how accounting experts might define each key item on your SEC 10K? A US GAAP XBRL Taxonomy has the answer
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35. US GAAP Taxonomy Development Effort FAF, XBRL US GAAP, SEC Regulations Codification project Audit check lists Internal and public testing XBRL protocols Taxonomy Release CFO Investor Relations Current Reporting Practice Key concept: Create a Data model Analysts Investors
37. Description of accounting policies associated with the recognition of gross revenues and gross revenue adjustments, which are components of net revenues in the statement of operations for the period. Standard label in English: Revenue Recognition Accounting Policy, Gross and Net Revenue Disclosure Standard label in XBRL: RevenueRecognitionAccountingPolicyGrossNetRevenueDisclosure Accounting Principles Board Opinions (APB) Number 22, Paragraph 8 Label Definition Authoritative Reference
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45. Neal Hannon Senior Consultant, XBRL Strategies The Gilbane Group [email_address] FICPA Annual Accounting Show and Business Expo Orlando May 27 2009 FICPA Thank You
Notes de l'éditeur
XBRL is an XML-based standard for financial and business reporting over the Internet. This Case Study and XBRL demonstration will illustrate how this and other emerging XML financial industry standards, including RIXML and IFX, will facilitate efficient exchanges of information critical to essential communication infrastructures. The attendees will have an opportunity to review XBRL financial service data interchange formats followed by a discussion about how XBRL can help banks and financial services companies to: - Effectively collect and update financial information on borrowers; - Accelerate the credit risk assessment process and manage customer relationships; - Integrate investment information about companies and the market from multiple sources; - Manage and distribute transaction data on loan portfolio performance, sales, and purchases; - Automate business reporting to funding sources and other business partners; - Communicate institutions' financial performance more effectively to investors; - Consolidate and report data (report on the work done with the FFEIC regulators in the U.S.); - Implement and adapt to external changes in reporting and disclosure requirements, such as the new Basel Capital Acco