I xbrl   accountants - v1.2
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I xbrl accountants - v1.2

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Approach of iXBRL by Twinfield, Online accounting. iXBRL is part of Twinfield online accounting from of the summer of 2010.

Approach of iXBRL by Twinfield, Online accounting. iXBRL is part of Twinfield online accounting from of the summer of 2010.

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I xbrl   accountants - v1.2 I xbrl accountants - v1.2 Presentation Transcript

  • Twinfield accountancy portal Digital financial information exchange through SBR & XBRL v1.1
  • ‘In 2005, Dutch Minister Donner promised the business sector a reduction of the administrative burden’ • Standardisation of the exchange of financial data through iXBRL. • What started off as the Dutch Taxonomy Project was later renamed the Standard Business Reporting program. • Parties involved: a.o. Belastingdienst (Tax Authority) | Kamer van Koophandel (Chamber of Commerce) | Banks | CBS (Statistics Netherlands)
  • ‘Where does SBR/iXBRL come in?’ •  SBR/iXBRL now comprises (the drawing up of) financial documentation and the concluding of accounts' processing. •  Efficiency is maximised when the entire financial chain's process is managed efficiently as well. •  Both the client and the accounting firm benefit from standardisation.
  • ‘What does Twinfield offer?’ •  An approach and extension that both accountant and entrepreneur benefit from. •  An approach for optimising not only the final stage, the financial report, but the processing of accounts as well. •  An extension that -at no extra cost- is an integral part of all of Twinfield's subscription formats.
  • What does the Twinfield extension look like? Current financial administration •  Standing data. •  Financial data. •  Reporting structure. Online accountancy portal •  iXBRL viewer/editor •  Importing of taxonomies. •  Linking to the financial administration. •  Enriching of data (manual, automated, external sources). •  Digitally archiving of documentary evidence. •  Workflow including audit trail and approval. •  Twinfield workflow •  Easily linked up with the accountant's program •  iXBRL portal control •  Portal control to various agencies. •  Certificate control.
  • SCHEMATIC OVERVIEW (in Dutch)
  • SCHEMATIC OVERVIEW - Detail of the iXBRL viewer/editor (Dutch)
  • ‘What are the advantages for the accountant?’ •  Enhanced efficiency through an (internationally) standardised and thus structured procedure for creating a financial report. •  Efficiency improvement is maximised when the Twinfield accountancy portal is combined with Twinfield's online accounting. •  An improved service to the client by delivering financial reports more frequently without any extra effort. •  Providing a new service by structuring taxonomies on behalf of a client. •  Modularly structured, made by and for accountants.
  • What are the advantages for the entrepreneur? •  Less of a paper fuss when preparing the financial statements. •  It takes less time to provide third parties such as creditors with the necessary financial reports. •  A better insight into the process with the possibility of intervening at an early stage. •  A clearer information provision may have a positive effect on preserving or obtaining credit. •  Option of summarised profit declaration without Belastingdienst (Tax Authority) intervention. •  The work is carried out completely online.
  • ‘Twinfield?’ •  Formed in 2000 by André Kwakernaat and Maurice Tijhuis. •  European market leader in online accounting. •  More than 80.000 accounts in 22 countries and over 40.000 users. •  ‘Double growth figures’, year after year. •  Accounts are accessible, always and everywhere. •  Certified by BDO Audit & Assurance.
  • www.twinfield.co.uk www.twitter.com/twinfielduk