XBRL in the Cloud
Overview:
The integration of cloud computing and XBRL adoption has opened a new window for financial reporting. Companies must know how to take advantage of the benefits of taking XBRL into the cloud and how to keep the potential disadvantages at bay.This LIVE webcast will help CPAs, compliance professionals, chartered accountants, software vendors and finance executives master the important processes of XBRL in the cloud. Our panel of distinguished panel from the government and the private sector will discuss the latest developments and challenges in XBRL software. In addition, they will also offer valuable information for XBRL best practices and management. A Q&A session is also included in this event.
Agenda:
SEGMENT 1:
Hudson Hollister, Executive Director,
Data Transparency Coalition
- XBRL has become the global language of finance. It has already been adopted by financial regulators in scores of countries for public companies’ financial statements, including by the SEC.
- Legislative proposals in the U.S. and elsewhere would expand the use of XBRL. The Financial Industry Transparency Act, which was proposed in the U.S. Congress in 2010, would require the SEC to expand its current XBRL disclosure regime to cover all data reported under the securities laws, instead of just the financial statements. Current legislation in the European Parliament would require both public and non-public companies to report in XBRL.
- The governments of the Netherlands, Belgium, Australia, and the United Kingdom are using XBRL to combine regulatory reporting requirements so that companies do not need to report the same information repeatedly to multiple regulators. Forthcoming legislation in the U.S. Congress would commission a study on the feasibility of similar movement in the United States.
- The consistent adoption of XBRL and other data standards will facilitate the movement of many legacy reporting and compliance systems to the cloud.
SEGMENT 2:
Ariel Markelevich, Ph.D., CMA, Associate Professor of Accounting,
Suffolk University
- Embracing the XBRL requirement
- Bolt-on or built-in approaches to creating the XBRL documents
- Integrating XBRL and XBRL financial accounting data into other parts of the company (e.g., managerial accounting, GRC, corporate actions)
SEGMENT 3:
Paul Snijders, CEO,
Semansys Technologies BV
- Why cloud?
- Who need cloud and what benefits can you get from cloud?
- Why XBRL & cloud and why use cloud and not build it yourself?
- What cloud facilities are available in the world?
Who Should Attend:
- CEOs, CFOs and Finance/Compliance Professionals of public and private companies
- Investment Professionals and Analysts
- Regulators
- Software Developers
- Accounting and Audit Professionals
- Controllers
- Assistant Controllers
Hudson Hollister is the founder and Executive Director of the Data Transparency Coalition. Prior to founding the Data Transparency Coalition, …
Ariel Markelevich is an Associate Professor at Suffolk University’s Sawyer Business School, located in Boston, MA. Dr. Markelevich is a …
Paul was amongst the first members of XBRL is co-founder and vice chair of the Dutch jurisdiction of XBRL International …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
124272
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About Data Transparency Coalition
The Data Transparency Coalition is the only trade association that advocates data reform for the U.S. government. The Coalition brings together companies, nonprofit organizations, and individuals to support policies that require federal agencies to publish their data online, using standardized, machine-readable, nonproprietary identifiers and markup languages.
Website: https://datacoalition.org/
About Suffolk University
Ariel Markelevich is an Associate Professor at Suffolk University’s Sawyer Business School, located in Boston, MA. Dr. Markelevich is a member of IMA’s XBRL Advisory Committee. He also serves as the Director of the Structured Data Lab at the Center for Complexity and Global Leadership and is a Fellow at the Center for Innovation and Change Leadership. He has published numerous papers primarily in the areas of XBRL and IFRS. Dr. Markelevich’s primary interests in the research of XBRL are the study of the different ways countries have adopted XBRL and the choices they have made. Dr. Markelevich has also been studying the benefits of XBRL to users of financial information and to other stakeholders. Another focus has been on the impact of the adoption of both IFRS and XBRL on companies’ financial statements and on the users of this financial information.
Website: https://theknowledgegroup.org/wp-content/uploads/2013/11/stufolkimage.jpg
About Semansys Technologies BV
Semansys Technologies is a leading vendor of software solutions for financial reporting and business monitoring based on semantics and XBRL. The company offers a uniquely comprehensive solution set that increases speed, quality and transparency in the exchange of information throughout ‘the financial supply chain’. The software helps regulators reduce risks and administrative burden. For preparers of XBRL based business reports, Semansys provide easy to use and efficient reporting solutions.Semansys is the global main XBRL technology provider for the software industry. The XBRL technology from the company is used by companies around the world including; Microsoft, IBM-Cognos, Unit4 Business Software, UNIT4, UNIT4 Consist, FRSGlobal, Prophix, Infine, Pro Management, Accept, Cash, Muis, and many others using our desktop XBRL OEM components, desktop solution and or the xbrlOne SaaS platform.The use of open standards allows users of this software to deploy innovative real time business monitoring techniques such as daily balance sheets and continuous auditing. Semansys is closely involved in the development and global adoption of XBRL and realized the world’s first implementation of this standard. Semansys is based in The Netherlands. For more info, please visit: www.semansys.com.
Website: https://www.semansys.com/
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