ENHANCING IFRS EXTERNAL
REPORTING USING XBRL
Presented by:
Denis DUPRIEZ & Stéphanie ROBERT-LEMARRE
Capgemini Group Information Systems
Declan JONES
Fujitsu Software Corporation, Ireland
Session Overview
 Why implement XBRL and Why now?
 Compliance and regulatory reporting pressures on companies
 Why is XBRL important for IFRS ?
 What was the XBRL project undertaken?
 Proof of Concept project
 IFRS/XBRL Project Objectives and phases
 How the project was implemented
 XBRL Implementation and tools
 Issues encountered
 Conclusions and next steps
Clients of external reporting
Banks
Stakeholders
Customers
Markets
Regulators
Information
Exchange
Competitors
Governments
Auditors
Investors
Suppliers
Why XBRL ?
“It is exciting to be involved with a truly global
web-based solution for capturing and transferring
business reporting information, particularly at a
time when financial reporting is subject to such a
high degree of public scrutiny and change. I am
particularly encouraged by the levels of
comparability IFRS and XBRL offer.”
IASCF Commercial Director & Chair of XBRL
International, Kurt Ramin
Why XBRL is important for IFRS
 XBRL and IFRS objectives are mutually compatible in
that:
 XBRL facilitates the transfer and exchange of financial
information
 XBRL makes comparability, transparency and
benchmarking far more achievable
 Using XBRL companies can make their IFRS reports in
a more timely fashion
A key tool : the IFRS-GP Taxonomy
 XBRL tags for IFRS financial data
 Typically reported in annual, semi-annual or quarterly financial
disclosures
 Balance Sheet
 Income statement
 Statement of Cash Flows
 Statement of Changes in Equity
 Accounting Policies and Explanatory Disclosures
 IASCF initiative with representatives from the “Big 4”
accounting firms and XBRL tool vendors
 But IFRS taxonomy is not endorsed in any way by the IASB
IFRS Taxonomy presents key benefits
 Major IFRS needs covered
 Automatic benchmark between IFRS companies
 Identify the relationships between IFRS elements
 Specific “customization” for company needs
 “X” (Extensible) BRL taxonomy allows company
extension
 XBRL reinforces data consistency through validation
links for internal business rules, cross-checks…
The proof of concept project
Objectives of the Project
 Experience
 Gain real world practical XBRL implementation experience
 Build the knowledge to exploit XBRL within the company
 Assess Viability and future value
 Demonstrate viability of XBRL
 Investigate an approach for future implementation
 Investigate future uses and opportunities for XBRL
 Be at the leading edge
 Be ready and able to publish XBRL data to stakeholders
 Limited to:
 External reporting only
How this XBRL experience was achieved
 XBRL Implementation Phases
 Phase 1 – Buy-in
 Phase 2 – Preparation & Tool Selection
 Phase 3 – Taxonomy extension
 Mapping from CoA to XBRL
 Taxonomy Extension
 Phase 4 – Create XBRL output
Buy-in
Preparation
Taxonomy Extension
XBRL Outputs
Buy-in
Phase 1- Buy-in
 Key players
 CFO and Board
 Communication Department
 Auditors
 Others
Preparation
Phase 2 - Preparation & Tool Selection




Consolidation tools
Taxonomy tools
XBRL Report (Instance) tools
End user analysis tools
Taxonomy Extension
Phase 3- Taxonomy extension
 The IFRS Taxonomy “Space”
Bound Volume
Industry Extensions
Jurisdiction Specific Extensions
Company Specific Extensions
Taxonomy Extension
Phase 3- Taxonomy extension
 Different Approaches to publish in XBRL
 Standard: Use the “official” Taxonomy
 Extended: Create a company customized referential
and map it with official IFRS taxonomy
 Specific: Build a new XBRL taxonomy for company
accounts and reports to be published “from scratch”
Phase 3 – Taxonomy extension
Taxonomy Extension
 Focus on “Extended” Approach
 Selection of published consolidated data
 Collection of consolidated data
 Mapping with official IFRS-GP Taxonomy
 Creation of the extended taxonomy using a taxonomy
editor tool
XBRL Output
Phase 4 : Create instance documents
Instance document
XBRL Output
Period not appropriate to context
Taxonomy
view according
to presentation
linkbase
Instance creator; view of values according to contexts
FOCUS ON FUJITSU TOOLS
 Right tools for the right person
 Different roles have differing requirements
 Fujitsu provide XBRL products (Interstage family) and
tools aimed at
 End Users in the “Taxonomy business” (Defining
and Modifying)
 End Users of XBRL reports (Reading and Writing)
 Software Developers
 System Integrators and Solution builders
 Interstage XWand comes in Developer, Server and
Personal editions
Roles and Tools for XBRL
ROLE
ACTIVITY
TOOL
Report Designer
e.g. Standards body
or report owner
Define reporting “concepts” and key
inter-relationship. Ensure report meets
the needs of users and the business
Taxonomy Editor with
full link base support
Report Creator
(Human)
People enter facts based on the
previously defined report definition /
design
Instance Creator
Report Creator
(Computer)
Computers generate facts that adhere
to previously defined report definition
(taxonomy)
API
Report Usage
(Human)
People read / view report
Instance Viewer
Report Usage
(Computer)
Computers process reports
API (Java or C#)
Taxonomy Editor & Instance Creator
 Suitable for end users in the “Taxonomy
business” (Defining and Extending)
 Suitable for users to do “data entry” i.e. create
Report Instances and also for viewing reports.
 Intuitive GUI tool
 Drag and drop support
 WebDav support
 Import and Export from Excel/CSV
The Fujitsu taxonomy tool
Linkbase views
Schema
Elements
Element
attributes
Link information
Status/errors
Conclusions
Assessment of Project Objectives
 Experience
 Project successful within limits set
 Knowledge and confidence to go further achieved.
 Viability proven
 Full life cycle from tools selection, taxonomy extension, mapping
and report creation achieved.
 Efficiency of XBRL for IFRS disclosure
 Map to XBRL once but exploit many times for different reports
 Allow automatic processing of financial data
 Future value possibilities
 Ready and able to publish XBRL data to external parties.
 Data collection process from subsidiaries i.e. “internal financial
supply chain”
Summary
 XBRL and IFRS objectives are mutually compatible
 During (or soon after) the IFRS project is a good time
to implement XBRL
 Use of XBRL leads to efficiencies of reporting
throughout the organization
 The tools available in the market are mature enough
to allow you to start your projects today.
Thank you.