SEC is determined to amend the existing EDGAR system and replace it with XBRL. Otherwise known as data tags, this format intends to promote a more systematic, effective and efficient reporting and analysis of business information. It enables the SEC to look into spreadsheets directly in Excel format, making it easier to compare data between companies. A number of key regulators around the world are already using the said format, while others are still contemplating on adopting it.
The Knowledge Congress is producing a two-hour webinar to discuss the key features, the advantages and disadvantages, and the impact of XBRL in various financial reporting processes. Experts from the government and the private sector are scheduled to speak in this event.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect
to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code: 083760
Rob Blake
Senior Director of Interactive Services and founding member of XBRL.ORG
Kurt Ramin
Chairman (Emeritus) of XBRL International
Advisor, IASCF
David Blaszkowsky
Director, Office of Interactive Disclosure
Mike Willis, CPA
Partner, Founding Chairman XBRL International
Rob Blake, Senior Director of Interactive Services and founding member of XBRL.ORG, Bowne & Co., Inc.
** Speaker Agenda to be added soon.. **
David Blaszkowsky, Director, Office of Interactive Disclosure, U.S. Securities and Exchange Commission
- Why the SEC sees interactive data, particularly xbrl, as being so important
- How filers and investors alike will benefit from interactive data
- Why now is the right time to consider an interactive data standard
- What the SEC is proposing
- How filers and others can begin to get smart on interactive data
Kurt Ramin, Chairman (Emeritus) of XBRL International, International Accounting Standards Committee Foundation
- International Financial Reporting and XBRL
- IASB and IFRS
- Convergence of Financial and Business Reporting
- IFRS XBRL taxonomy
- Implementations around the globe
Mike Willis, CPA, Partner, Founding Chairman XBRL International, PricewaterhouseCoopers LLP
- XBRL is a business reporting supply chain standardization effort and is applicable to external AND internal reporting processes.
- XBRL is specifically designed to enable automation of a wide range of currently commonly manual and/or inefficient processes, process problems that literally every
company suffers from.
- Common manual compliance process areas are a primary target for the XBRL standard including: manual report assembly and review, manual spreadsheet aggregation,
manual data access, lack of internal transparency across a wide range of disparate data stores, manual and redundant automated controls, and many others.
- Where XBRL has been applied to the targeted process areas the cost and time reductions have ranged from 80% to 25%.
- Viewing XBRL only as an external reporting compliance requirement limits the process efficiency and effectiveness enhancements available.
- CEOs, CFOs and Finance Professionals of public and private companies
- Investment Professionals and Analysts
- Regulators
- Software developers
- Accounting and audit professionals
- Controllers
- Assistant Controllers
This is a must attend event for anyone interested in understanding XBRL.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A