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On how to move widespread XBRL usage upstream to the point of first recording

On how to move widespread XBRL usage upstream to the point of first recording

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Philip kuxbrl2013 Philip kuxbrl2013 Presentation Transcript

  • KU XBRL ConferenceOn how to movewidespread XBRL usageupstream to the point of first recordingPhilip ElsasComputationalAuditing.comCanadaLawrence, Kansas April 27, 2013
  • 2On how to move widespread XBRL usage upstream● Connectivity perspective● Transferable FpML mechanisms● Industry packs & positioning
  • 3On how to move widespread XBRL usage upstream“XBRL in Tax& Government”,Terry Lutes, IRS& Eric E. Cohen,webinar 2005,xbrl.org,GL Taxonomy
  • 4On how to move widespread XBRL usage upstream
  • 5On how to move widespread XBRL usage upstream
  • 6Typology oftop-cycles-Integratedowner-ordered &management-orderedauditing,Starreveld et al.
  • 7Three exampletop-cycle models,represented asaudit equation sets,by Frielink et al.-Corresponds toequation-based &assertion-basedauditing,as introduced byLeslie et al.Owner-orderedaudit direction:equation parametersin bold face onunderstatement,in regular font onoverstatement
  • 8AUDIT EQUATION SET FOR FRANCHISOR ORDERED AUDITING - Frielink et al, §5.1.413(1S) Cash at franchisees ............. SGb + SAa×Pv − SGe → SGu(3S) Goods at franchisees ........... SAb×Pv + SAo×Pv − SAe×Pv → SAa×Pv(5H) Permanence sales prices ..... HAa×Pi + SAo×Pi + Wr + Tr → SAo×Pv(3H) Goods at central stock ........ HAb×Pi + HAo×Pi − HAe×Pi → HAa×Pi(2H) Accounts Payable ............... Cu − Cb + Ce − HAo×Pi − Ti → SAo×Pi(1H) Cash at corporate ................ HGb + SGu − Tu − HGe → Cu(8H) Value Added Tax ................. Tb + Tr − Tx − Ti − Tu → Te(9H) Profit ................................... Wr − Wx → WeRestricted to: cash-goods-cash top cycleOn how to move widespread XBRL usage upstreamParameters with two capitals:first capital is either H for headquarters,or S for store
  • 9SIKS Coney/ACL ZeeZor ComputationalAuditing.comOwner-ordered Auditing Symposiumwith: Limperg operational, Starreveld online, ...key note:Dutch Internal Revenue Servicefranchise projectGatineau, Quebec, CanadaSeptember 27-28, 2013On how to move widespread XBRL usage upstream
  • 10On how to move widespread XBRL usage upstream● Publishers are stepping in:● RR Donnelley● acquired Edgar Online, August 2012● acquired UB Matrix, June 2010● Wolters-Kluwer● acquired TwinField, June 2011● Others: online educational materials,“flight simulator setting”, MOOC
  • 11On how to move widespread XBRL usage upstream● Connectivity perspective● Transferable FpML mechanisms● Industry packs & positioning
  • 12On how to move widespread XBRL usage upstream● FpML: Financial product Markup Language● Digital channel for nexus micro-macro, with 2-way direction:Limperg, Carmichael & PCAOB blueprint● Macro level: Bookstaber indicators for systemic risk -leverage, crowding & market linkages● Meso level: financial institution, individually or as group● Micro level:● UPI - Unique Product Identifier● LEI - Legal Entity Identifier● UTI - Unique Trade Identifier
  • 13On how to move widespread XBRL usage upstream● Connectivity perspective● Transferable FpML mechanisms● Industry packs & positioning
  • 14On how to move widespread XBRL usage upstreamIndustry pack, in builder & player architecture (Deloitte):● XBRL Global Ledger taxonomy as base● Audit equation set is a tagged matrix (Nehmer):● Tagged account vector (row vector) ×● Tagged transaction vector (column vector)● Hosting close-to-real-time tagging & checking● Audit driven accounting: logging locations coverage● Tagging a stream of transactions● Checking tagged stream versus audit equation set
  • 15On how to move widespread XBRL usage upstream● Prefab industry packs● Digital infrastructure, with open up- & download facilities● Market verticals in:● Franchise industry● Dealer networks● Receiving end of royalties, in broad sense, incl. tax● Getting it right at entry level:● XBRL GL tagging at the source, close-to-real-time● E.g., Point Of Sales systems: new, attractive dynamics
  • 16On how to move widespread XBRL usage upstream● Connectivity perspective● Transferable FpML mechanisms● Industry packs & positioning