19 th XBRL International Conference Reducing regulatory burden
19 th XBRL International Conference “Reducing regulatory burden with XBRL: a catalyst for better reporting” June 22 -25, 2009 Paris, France Filing annual accounts in Germany how XBRL supports the reduction of costs for legal publications Sascha Heinig, 06/26/2009
Content Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities Conclusion Next steps S. Heinig 06/26/2009 2
History of the Publishing House 1949 1950 2003 2007 Founded through the Federal Republic of Germany Introduction of the law for „legal publication” The newspaper „Bundesanzeiger“ gets official gazette for legal announcements and publications in Germany Stepwise transformation to electronic publication and filing Release of the law “EHUG” End of double publication of register data Foundation of the business register „Unternehmensregister“ S. Heinig 06/26/2009 3
Content Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities Conclusion Next steps S. Heinig 06/26/2009 5
Electronic Federal Gazette Development of the Federal Gazette First significant change in Media in 2003 ◦ The newspaper started loosing its importance End of double publication since 2007 ◦ lost of all publications of companies register data to companies registers, but ◦ exclusive right for publication of annual accounts Publication instead of depositation for small and midsized companies caused an additional amount of publication (change in fining) S. Heinig 06/26/2009 6
Electronic Federal Gazette published: by Ministry of Justice content: legal publication esp. ◦ annual accounts ◦ financial reports ◦ public notifications ◦ … S. Heinig 06/26/2009 7
Electronic Federal Gazette average input of annual accounts 2007 / 2008 / 2009 450. 000 400. 000 350. 000 300. 000 250. 000 200. 000 150. 000 100. 000 50. 000 09 rz 08 09 M n Ja ov 08 N 8 8 l 0 Se p Ju 08 ai 0 M rz 07 08 M n Ja ov 7 07 N Se p 7 l 0 Ju 07 ai 0 M rz M Ja n 07 0 main tasks: check of Completeness and filing whithin prescribed time (4 Month - 1 Year) transformation of heterogeneous data into a standardized internet format publication ebundesanzeiger. de transmission to business register peak season December – March business is driven by the production of annual accounts S. Heinig 06/26/2009 8
Content Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities Conclusion Next steps S. Heinig 06/26/2009 9
Filing annual accounts § Filing - Online • publications platform • other electronic interfaces - Offline • general posting § One electronic filing platform for legal gazette and business register S. Heinig 06/26/2009 10
Filing annual accounts formats for filing 100% 80% 60% 40% 20% 0% Jan. Mrz. Mai. Jul. Sep. Nov. Jan. Mrz. 07 07 07 08 08 08 09 09 XBRL XML Other currently accepted filing formats legal gazette ◦ XML / XBRL ◦ MS-Office ◦ PDF ◦ paper (till 2009) business register ◦ XML ◦ PDF (as a service) Filing mainly in XML / XBRL price usability S. Heinig 06/26/2009 11
Content Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts ◦ The Datev Interface Project ◦ Additional XBRL activities Conclusion Next Steps S. Heinig 06/26/2009 12
The Datev interface Project Main goal 2007 by Ministry of Justice: ◦ provide an easy and cheap way to file annual accounts ◦ high coverage Subgoal: ◦ reduction of filing costs to 50 Euro ◦ reduction of administrativ complexity for SME´s (multiple use of accounting data) S. Heinig 06/26/2009 13
The Datev interface Project development of a filing-interface based on re-usable accounting data (XBRL) with DATEV* Milestones ◦ kickoff in spring 2007 ◦ first productive version in autumn 2007 Actual status ◦ used by nearly all customers of DATEV ◦ more than 800, 000 accounts processed so long ◦ more than 30, 000 accounts processed per day during the peak season * The DATEV is the german market leader for accounting software and combined services. Their product is used by 2/3 of all companies in Germany (esp. SME´s) S. Heinig 06/26/2009 14
The Datev interface Project Step 1 - 3: company identification S. Heinig 06/26/2009 15
The Datev interface Project Step 3 - 5: master data S. Heinig 06/26/2009 16
The Datev interface Project Step 6: notes S. Heinig 06/26/2009 17
The Datev interface Project Step 7: mapping (control) S. Heinig 06/26/2009 18
The Datev interface Project Step 8: preview S. Heinig 06/26/2009 19
The Datev interface Project Step 9: transfer S. Heinig 06/26/2009 20
Content Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities Conclusion Next steps S. Heinig 06/26/2009 21
Additional XBRL activities MS-Office based XBRL Tool (German AP, IFRS) XBRL Upload via publications platform German AP (individual taxonomy and bank extensions) IFRS (individual taxonomy extensions) US-GAAP S. Heinig 06/26/2009 22
Conclusion XBRL is a success story internal reduction of costs through: ◦ reduction of troughput times reduced approval (technical, content) accelerated production external reduction of costs through ◦ reduction of prices for filling (actual Euro 35 for SME´s) ◦ reduced work on filing preparations through multiple use of accounting data S. Heinig 06/26/2009 23
Next Steps Expanding the XBRL activities ◦ add filing interfaces to more accounting software ◦ rethink the layoutoriented xml strategy external software web forms Upload strategy ◦ focus on web-based interfaces for filing in XBRL S. Heinig 06/26/2009 24
Thank you for your attention and interest S. Heinig 06/26/2009
- Slides: 24