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Bridging the "GAAP"

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  • 1. XBRL GL and IFRS Working Together A Supply Chain Use Case Josef Macdonald IASC Foundation XBRL Practice Fellow Bartosz Ochocki IASC Foundation XBRL Team Maciej Piechocki IASC Foundation XBRL Team Harald Schmitt IASC Foundation XBRL Team Bridging the “GAAP”
  • 2. Agenda
    • Introduction
    • Financial Reporting Supply Chain
    • XBRL GL & XBRL FR
    • Consolidation of Financial Statements
    • Multi-GAAP Reporting
    • Audit Trail/ Verifying FS
    • Show Case
  • 3. Financial Reporting Supply Chain Business Operations Processes Internal Financial Reporting Participants Auditors Trading Partners Investors Financial Publishers and Data Aggregators Regulators Software Vendors Management Accountants Entities (Public Corporations, SMEs, Public Sector Entities) Central Banks External Financial Reporting Economic Policymaking Investment, Lending, Regulation XB RL Taxonomies and Extension Taxonomies (statistics, central banks, tax, others) XB RL GL Journal Taxonomies XB RL GAAP Taxonomies, IFRS-GP, US-GAAP, etc.
  • 4. XBRL GL & XBRL FR
  • 5. Consolidation of Financial Statements XBRL GL XBRL GL XBRL GL Subsidiaries AIS Holding AIS IFRS GP External Systems (external data collectors) XBRL GL
  • 6. Multi-GAAP Reporting IFRS GP XBRL FR XBRL FR XBRL GL Reporting System External Systems (external data collectors) Tax FS … Holding XBRL GL
  • 7. Audit Trail/ Verifying FS XBRL GL XBRL GL XBRL GL Subsidiaries Holding Audit Platform IFRS GP Auditor System
  • 8. Summary Subsidiaries AIS Subsidiaries Reporting Systems GL GL GL Holding AIS Holding Reporting System GL GL FR FR FR Other Holding Systems Decision Support Business Intelligence Databases GL GL GL Other Subsidiaries’ Systems Decision Support Business Intelligence Databases GL GL GL External Systems (authorities) FR FR FR IFRS Tax Local GAAP External Systems (authorities) IFRS Tax Local GAAP FR FR FR GL Infor- mation Internal Audit Internal Audit External Audit External Audit GL GL
  • 9. Presented by the IASC Foundation XBRL Team