Börsen-Zeitung: Structured and uniform data format from 2020 – IFRS consolidated financial statements soon with iXBRL
Digital transformation of financial reporting with obstacles Börsen-Zeitung, June 10, 2017. The digital transformation is ahead of traditional processes, starting with the preparation of the consolidated financial statements, the audit, the publication and right up to their use by investment professionals. Sure, there are consolidated financial statements available for download in PDF format, balance sheets […]
ZfCM: Potential of XBRL for corporate controlling, for venture capital companies and for BSC projects
Extracts: “…Despite the existence of ERP systems, XBRL offers advantages: When standardizing processes and data across company groups and reducing manual processes When redesigning the creation processes of consolidated financial statements using XBRL …The systematizing assessment by Ramin/Kesselmeyer/Ott about the possible applications of XBRL in internal company reporting shows that the following two controlling areas […]
ZCG: Corporate Governance & eXtensible Business Reporting Language – How the transparency of external accounting can be increased and organizational risks can be reduced
“XBRL technology is becoming increasingly widespread on international stock exchanges and regulatory authorities. XBRL significantly increases the transparency of external accounting in terms of content and time. In addition, XBRL offers further potential when used within the company: The organizational risks of financial processes and data can be reduced using XBRL. Because XBRL expands the […]
die bank: Frank (DVFA)/Kesselmeyer, Capital market communication – key technology XBRL
“XBRL is a language for electronic communication of financial and business data. It is an open data format that can automatically transport the data flow from general ledgers, balance sheets, cash flow statements or business reports. Computer applications can read data in XBRL format and import it into analytical models at the same time it […]
GoingPublic: Frank (DVFA)/Kesselmeyer, Waiting reduces the alternative courses of action later
Excerpt from the conclusion of the article: “XBRL is the key technology for capital market communication in the coming years. Due to developments in the USA, application conventions are being developed there, particularly for company-specific taxonomy extensions. Regulators, software experts and auditors are currently leading the discussion. What is largely missing from the discussions are […]
GoingPublic: Frank (DVFA)/Kesselmeyer, XBRL a small step for regulators…a big one for the capital markets
“Electronic reporting in XBRL (eXtensible Business Reporting Language) format is spreading worldwide. Following increasing mandatory use in Asia, the U.S. Securities and Exchange Commission (SEC) formally issued a draft on May 30, 2008 resolution template for mandatory reporting using interactive data – XBRL –. The key point is that all US-listed issuers – domestic and […]
Leibfried (Uni St. Gallen)/Kesselmeyer, Standardize reporting through XBRL
Excerpt: “Without wanting to paint a black picture: not only in small and medium-sized companies, the technological processes used to manage financial reporting often seem like relics from a bygone era. Simply fulfilling the external reporting obligations represents an obstacle course: numbers are transferred from a wide variety of local environments into central consolidation systems […]
KoR: Ramin (IASB)/Kesselmeyer, XBRL as an internet-based standard for financial reporting
Excerpt from the conclusion: “XBRL has the entire reporting supply chain in mind, from the creation of financial data, to internal and external reporting, use by investors, financial analysts and banks to tax and regulatory authorities. Current XBRL implementations are being implemented by stock exchanges and other authorities worldwide. The breakthrough of XBRL is the […]
GoingPublic: Kesselmeyer, XBRL as a global standard for financial reporting – just a matter of time?
“For the disclosure of the annual financial statements in the electronic Federal Gazette, XBRL (eXtensible Business Reporting Language) is the operator’s preferred format with effect from January 1, 2007. For the interim reporting of listed companies, XBRL was introduced by the company register in 2007 as the exclusive format – surprising for most of those […]
FBNEWS: Kesselmeyer, Practical XBRL applications on international stock exchanges – corporate financial reporting
Excerpt from the conclusion: “Use of XBRL technology in the USA and Asia – with all its advantages for financial analysts and investors – will lead to the remaining internationally important exchanges following suit. This will further reduce the reaction times of capital market participants. With XBRL, the international capital markets will receive information much […]