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 […]

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 […]

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 […]

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