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.

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I xbrl accountants - v1.2

  1. 1. Twinfield accountancy portal Digital financial information exchange through SBR & XBRL v1.1
  2. 2. ‘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)
  3. 3. ‘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.
  4. 4. ‘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.
  5. 5. 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.
  6. 6. SCHEMATIC OVERVIEW (in Dutch)
  7. 7. SCHEMATIC OVERVIEW - Detail of the iXBRL viewer/editor (Dutch)
  8. 8. ‘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.
  9. 9. 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.
  10. 10. ‘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.
  11. 11. www.twinfield.co.uk www.twitter.com/twinfielduk