XBRLSeattle Internal Reporting Session Streamlining Financial Reporting Audit
XBRL/Seattle Internal Reporting Session Streamlining Financial Reporting & Audit Analytics with XBRL 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Agenda • XML @ Corel – Introduction to XMeta. L Platform • Internal Reporting Today • Fundamentals of Re-Use • XBRL as Metadata – Empowers content creation and re-use – Enables content analysis 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
XMeta. L’s History of XML Innovation 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions 9/25/2020 Diane. Mueller@Corel. com 3
XMeta. L Products Corel Financial Report Console (free 30 day trial version available) – – – Based on XMeta. L Author 4. 0 and XBRL Integration Pack for XMeta. L Native XBRL Authoring for any level of user Full Instance Document Creation support Allows for complex Template Development and Deployment Seamlessly integrates with your existing Content Management Systems and XML-aware databases Infinitely Customizable to meet the needs of all levels of users within your organization! Corel Financial Statement Navigator (web-based) – – – – 11/2/2003 Based on XMeta. L for Active. X and XBRL Integration Pack for XMeta. L 4. 0 Native XBRL Authoring for any user Allows for web-based data-entry via templates Allows for web-based editing, review, and analysis of XBRL instances Small footprint, easy to deploy and manage Can be delivered as a hosted solution; infinitely customizable Can be private-label branded Can be embedded in a browser or any Windows application Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Corel’s strong Client base in Financial Services 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Visual Intelligence Products for Financial Reporting and Analysis 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
XMeta. L XBRL Work Flow 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Internal Financial Reporting Today Everyday… • Businesses generate thousands of internal reports, creating mountains of paper and e-content, • These mountains of data are then endlessly mined analyzed by a wide variety of tools, people and computerized systems. • And it is based on this information pool that business decisions are made. Mountains of Information 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Internal Financial Reporting Today • Most organizations already reuse financial content on a daily basis • Internal Reports are generated by acct system’s reporting engines • Copy and paste it into spread sheets and documents • Distributed via email with explanatory notes • And sent to decision makers on a daily basis • This works well until the finanical content - and everywhere it appears - has to be updated…. Mountains of Information 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Proprietary Data Format, Departmental Boundaries Cause Silos of Information occur. . 11/2/2003 • This content is the life blood of an organization – getting accurate, timely content out to the right people at the right time is critical to an organization’s success. • Internal financial reporting – Financial performance of Divisions, Subsidiaries, Joint Ventures – determines ability to react Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Financial Reporting Accounting System (accumulates both financial and managerial accounting data) Information for decision making and control of an organization’s operations. Published financial statements and other financial reports. Internal Users 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com External Users
A Growing Problem Organizations have exploding amounts of ever-changing financial content that must be delivered to different audiences in different forms 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Reduce the Cost and Time of Providing up-to-date, personalized content to multiple channels 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Fundamentals of XML Re-Use Reuse is not a new concept • Many industries have been using XML to enable reuse: – Improve quality – Increased consistency – Reduced development and maintenance costs – Rapid reconfiguration – Translation Re-New, Re-Use, Re-Cycle 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
Systematic Re-Use of Financial Data Structured Content • Allows Data reuse, comparability, aggregation • Enables transparent reporting • Allows for the use existing content components to develop new “documents. ” • Allows for planned reuse where content is automatically inserted from Managing Enterprise Content (Publisher: New Riders Publishing; ISBN: 0735713065) 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
XBRL Metadata …enables Re-Use and Analysis…hence Audit Tests. . XBRL-Specification Defines the technical standard for the composition of XBRL Taxonomies XBRL- Taxonomy Defines a set of data tags in a certain business reporting area (i. e. US GAAP, IAS) XBRL- Instance “Output” from tagging data using one or more taxonomies XBRL- Applications 11/2/2003 Software that uses “tagged” data for presentation, analytics, etc. Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
XMeta. L Functionality • • Support for Any XBRL Taxonomy – Specification 2. 0 and up Native XBRL Word Processing – Client end users never has to see underlying XBRL • • 11/2/2003 – Editing and Composition of XBRL-tagged Financial Statements – Industry-leading word-processing interface for XML – Support for Numeric and Prose editing of XBRL documents Template Building – One-Click Creation Data Entry templates for XBRL instance creation from any taxonomy Full Instance Document Creation – Using presentation & label linkbases – Publishing to Html, PDF and other XML standards such as News. ML, Rix. ML Analysis/Assurance – Leveraging Calculation and Formula Linkbases – Formula and Audit Test Building – Built-in Scripting capabilities Integration with Web-based Interactive Graphics – Deliver powerful web-based Scalable Vector Graphics – Tied directly to XBRL data in drill-down interactive graphics Diane Mueller Sr. Program Manager, XML Content Solutions 9/25/2020 Diane. Mueller@Corel. com 17
Demo Time – Reuse and Audit Tests • Leveraging – Financial Report Console – Linkbase Technology – Web-base Graphics – XBRL Integration Pack • To create new documents that can be reused • To consume existing documents • To review and examine XBRL content 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions Diane. Mueller@Corel. com
XMeta. L product Re-Cap The XMeta. L Platform for XBRL delivers a new set of tools designed to simplify the implementation of XML applications across the Financial Reporting Supply Chain – enables anyone to create valid XML content, and streamlines the process of distributing information to the Web, print and other media. – enables organizations to rapidly build and deploy XML applications that enable anyone to create valid XML content and streamlines the process of rendering and distributing information to the Web, print and other media. – provides the only rich XML editing and instance creation solutions that support dynamic validation for both W 3 C Schemas and DTDs. 11/2/2003 1 -27 -03 Diane Mueller Sr. Program Manager, XML Content Solutions 9/25/2020 Diane. Mueller@Corel. com 19
Questions? 11/2/2003 Diane Mueller Sr. Program Manager, XML Content Solutions 9/25/2020 Diane. Mueller@Corel. com 20
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