XBRL
Overview:
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.
Agenda:
SEGMENT 1:
<strong id="ep-name-of-speaker">Rob Blake, Senior Director of Interactive Services and founding member of XBRL.ORG,</strong>
<em id="ep-speaker-firm">Bowne & Co., Inc. </em>
** Speaker Talking Points to be added soon.. **
SEGMENT 2:
<strong id="ep-name-of-speaker">David Blaszkowsky, Director, Office of Interactive Disclosure,</strong>
<em id="ep-speaker-firm">U.S. Securities and Exchange Commission </em>
- 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
SEGMENT 3:
<strong id="ep-name-of-speaker">Kurt Ramin, Chairman (Emeritus) of XBRL International; Advisor,</strong>
<em id="ep-speaker-firm">IASCF International Accounting Standards Committee Foundation </em>
- International Financial Reporting and XBRL
- IASB and IFRS
- Convergence of Financial and Business Reporting
- IFRS XBRL taxonomy
- Implementations around the globe
SEGMENT 4:
<strong id="ep-name-of-speaker">Mike Willis, CPA, Partner, Founding Chairman XBRL International,</strong>
<em id="ep-speaker-firm">PricewaterhouseCoopers LLP </em>
- 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.
Who Should Attend:
- CEOs, CFOs and Finance Professionals of public and private companies
- Investment Professionals and Analysts
- Regulators
- Software developers
- Accounting and audit professionals
- Controllers
- Assistant Controllers
As Senior Director of Interactive Services for Bowne & Co., Inc., Rob defines the strategic direction and solution offerings for …
David Blaszkowsky is the first Director of the Office of Interactive Disclosure at the Securities and Exchange Commission, named to …
Kurt Ramin is based at the International Accounting Committee Foundation (IASCF) and International Accounting Standards Board (IASB) in London. Consulting …
Mike Willis has more than 26 years of accounting and auditing experience and is a partner with PricewaterhouseCoopers. Mike served …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
83760
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
U.S. Securities and Exchange Commission
About Bowne & Co., Inc.
Website: https://www.bowne.com/xbrl
About U.S. Securities and Exchange Commission
About International Accounting Standards Committee Foundation
Website: https://www.iasb.org/xbrl/index.html
About PricewaterhouseCoopers LLP
Website: https://www.pwc.com/