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Longview FXR
Financial, External & XBRL Reporting
The financial consolidation and reporting cycle, which includes
collecting and consolidating financial information from all corporate
entities, closing the books, reporting to management, receiving auditor
sign-off on the results, reporting to regulatory authorities and issuing
earnings releases and other statutory financial statements, is highly
complex and fraught with numerous potential problems. Despite a
predictable monthly, quarterly and annual schedule, this reporting
process is often chaotic.
The continuing intensity of regulatory requirements, including XBRL
reporting, and the sensitive nature of the published financial
information require a great deal of time and effort to create, review and
validate the public filing package. Driven by regulatory authorities
attempting to increase transparency and accountability of financial
information, these requirements compel companies to provide
increasingly deeper levels of disclosure without any additional time to
do so. Furthermore, new mandates for XBRL tagging and reporting are
forcing organizations to exceed the allowable time limits required to
fulfill external reporting obligations to their regulatory authorities.
Some of the common challenges facing External Reporting departments
include manual, disjointed and complex processes, last minute
adjustments requiring proliferation throughout multiple filings, and
increasing regulatory demands. As a result, organizations are exposed
to a myriad of risks, including delays, lack of data accuracy, material
errors, restatements, and limited transparency.
Longview FXR promotes an effective, efficient and coordinated process
to produce regulatory filing documents. By using a single, validated
repository of financial data supported by cross-check, version control,
and a detailed audit trail, customers can standardize and automate the
entire process, thus dramatically reducing risk inherent in financial
reporting.
“The financial reporting and disclosure tools offered in the
emerging financial governance market represent a major opportunity for enterprises
to improve their controls in the final steps of finance management.”
Gartner
Benefits At A Glance
n The most comprehensive, innovative and
easy-to-use solution for automating
internal, external, and regulatory
reporting
n Significantly shortens the financial
reporting cycle time
n Reduces corporate risk and liability while
improving regulatory compliance
n Provides visibility, control, and proactive
notification of issues
n Ensures sustainability, control, and
process optimization through embedded
workflow
n Ensures consistency of quantitative and
qualitative content across disclosures
n Ensures data integrity and process
control through role based security
n Enables real-time collaboration with
on-line and offline edits, reviews, and
certifications
n Satisfies regulatory filing mandates and
standardizes complex financial reporting
tasks with embedded XBRL functionality
n Maximizes re-use of prior period
documents and XBRL tags through
roll-forward
n Enables outputs in multiple electronic
formats
Longview FXR
Based on a single repository of accurate information from
across the organization, Longview FXR is a centralized
financial reporting solution with embedded support for
XBRL tagging and document creation that streamlines
financial report preparation and publishing to internal
stakeholders and external regulatory authorities.
Data Preparation – Rounding and Scaling
Longview FXR helps to easily create a regulatory filing area
and provides an easy to use interface for rounding and
scaling of the relevant data; thereby simplifying data
preparation needed to support the statutory filing of
financial reports.
Longview FXR
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2
Footnote Manager
Longview FXR automates the creation, approval, routing,
management and storage of footnote disclosures, ensuring
accurate and efficient footnote generation. It also delivers
a system of record to unify close tasks and internal controls
associated with footnote disclosures, minimizing
restatements due to error.
Disclosure Index
Longview FXR provides a comprehensive summary of all
critical period-end documents. Each disclosure item includes
a status indicator for relevant close tasks, internal controls
and management approval.
Distributed Document Management
Framework
Longview FXR offers advanced document management
features intended to save your financial reporting team time
and money, including the ability to:
n Create roll-forward report templates from previous
periods
n Capture "snapshots" using document versioning
n Allow multiple stakeholders to work on the same
document at once with document segmentation
n Leverage MS Word for collaboration and red-lining
n Format disclosures in XBRL, MS Word and “Edgar ready”
documents
n Export financial data from disclosures
n Automate the creation of 10-K, 10-Q and 20-F reports
Embedded XBRL Tagging
Longview FXR streamlines your reporting process with
embedded XBRL tagging that, unlike bolt-on XBRL tagging
products, allows you to tag financial data once and output
financial statements as often as required.
Leverage Existing Taxonomies
User-friendly features ensure easy selection and tagging of
content, tagging from existing taxonomies and fill-in
additional tag information. Intuitive reporting and export
features also help to view, validate, export and preview
tagged documents ensuring accuracy.
Cross-Check and SEC XBRL Compliance
The cross-check feature ensures that quantitative and
qualitative content is consistent across disclosures. Also,
Longview FXR automates tasks in the final steps of SEC
document preparation, reducing errors and delays, and
enables efficient collaboration across contributing groups
such as internal audit, general counsel, investor relations
and external auditors.
www.longview.com
! "
One-Button Financial Statement Publisher
Longview FXR automatically generates XBRL compliant
disclosures, producing draft 10-Ks, 10-Qs, audit committee
books and internal management reports in a variety of
output formats.
Process Management and Workflow
Longview FXR provides a comprehensive set of internal
controls, reducing urgent interruptions and streamlining
workload spikes. It also significantly reduces the possibility
of error with built-in version control and offers the ability to
segregate duties including review and approval tasks.
Adding workflow to the build process streamlines and
improves collaboration and control over the process of
gathering input and feedback from multiple stakeholders.
Adding workflow to the review process ensures that the
action plans are monitored and executed on a timely basis
by the appropriate stakeholders.
Audit Trail
Longview FXR helps compare any two versions of a
document to identify changes easily and provides a detailed
audit trail from the pre-consolidated close process forward.
Leverage XBRL as a Competitive Tool
Longview FXR provides quick visibility into the progress
of the period-end close and compliance testing processes.
It helps manage and track period-end close tasks with
visibility of associated dependencies, issues and related
control testing. Beyond being a compliance requirement,
XBRL can thus become a competitive financial tool;
improving management visibility and control into critical
financial processes.
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3
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11/2012
About Longview Solutions
Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies
such as Aon, Brunswick, Lexmark, The Home Depot and Trustmark use to drive performance with speed, visibility and financial integrity.
Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following
key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting,
statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning.
Longview is headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA), London (UK), and Amsterdam
(NL).
For more information please visit www.longview.com.
Division Headquarters US Headquarters UK Headquarters Netherlands Headquarters
65 Allstate Parkway, Suite 200
Markham, ON • L3R 9X1 • Canada
2 Radnor Corporate Center
100 Matsonford Road, Suite 230
Radnor, PA • 19087 • USA
Nexus House, Station Road,
Egham, Surrey
TW20 9LB• UK
WTC The Hague, 16th floor
Prinses Margrietplantsoen 46, 2595
BR The Hague, The Netherlands
Tel 905.940.1510 Tel 610.977.0995 Tel 905.940.1510 Tel +31 (0)854884 783
Fax 905.940.8310 Fax 484.367.1153 Fax 905.940.8310 Fax +31 (0) 854884 782
Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com
© Copyright 2012 Longview Solutions. All rights reserved.

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Longview FXR Financial Close Management

  • 1. Longview FXR Financial, External & XBRL Reporting The financial consolidation and reporting cycle, which includes collecting and consolidating financial information from all corporate entities, closing the books, reporting to management, receiving auditor sign-off on the results, reporting to regulatory authorities and issuing earnings releases and other statutory financial statements, is highly complex and fraught with numerous potential problems. Despite a predictable monthly, quarterly and annual schedule, this reporting process is often chaotic. The continuing intensity of regulatory requirements, including XBRL reporting, and the sensitive nature of the published financial information require a great deal of time and effort to create, review and validate the public filing package. Driven by regulatory authorities attempting to increase transparency and accountability of financial information, these requirements compel companies to provide increasingly deeper levels of disclosure without any additional time to do so. Furthermore, new mandates for XBRL tagging and reporting are forcing organizations to exceed the allowable time limits required to fulfill external reporting obligations to their regulatory authorities. Some of the common challenges facing External Reporting departments include manual, disjointed and complex processes, last minute adjustments requiring proliferation throughout multiple filings, and increasing regulatory demands. As a result, organizations are exposed to a myriad of risks, including delays, lack of data accuracy, material errors, restatements, and limited transparency. Longview FXR promotes an effective, efficient and coordinated process to produce regulatory filing documents. By using a single, validated repository of financial data supported by cross-check, version control, and a detailed audit trail, customers can standardize and automate the entire process, thus dramatically reducing risk inherent in financial reporting. “The financial reporting and disclosure tools offered in the emerging financial governance market represent a major opportunity for enterprises to improve their controls in the final steps of finance management.” Gartner Benefits At A Glance n The most comprehensive, innovative and easy-to-use solution for automating internal, external, and regulatory reporting n Significantly shortens the financial reporting cycle time n Reduces corporate risk and liability while improving regulatory compliance n Provides visibility, control, and proactive notification of issues n Ensures sustainability, control, and process optimization through embedded workflow n Ensures consistency of quantitative and qualitative content across disclosures n Ensures data integrity and process control through role based security n Enables real-time collaboration with on-line and offline edits, reviews, and certifications n Satisfies regulatory filing mandates and standardizes complex financial reporting tasks with embedded XBRL functionality n Maximizes re-use of prior period documents and XBRL tags through roll-forward n Enables outputs in multiple electronic formats
  • 2. Longview FXR Based on a single repository of accurate information from across the organization, Longview FXR is a centralized financial reporting solution with embedded support for XBRL tagging and document creation that streamlines financial report preparation and publishing to internal stakeholders and external regulatory authorities. Data Preparation – Rounding and Scaling Longview FXR helps to easily create a regulatory filing area and provides an easy to use interface for rounding and scaling of the relevant data; thereby simplifying data preparation needed to support the statutory filing of financial reports. Longview FXR ! " ! " ! $ " $ ! " " $ ! " $ ! " 2 Footnote Manager Longview FXR automates the creation, approval, routing, management and storage of footnote disclosures, ensuring accurate and efficient footnote generation. It also delivers a system of record to unify close tasks and internal controls associated with footnote disclosures, minimizing restatements due to error. Disclosure Index Longview FXR provides a comprehensive summary of all critical period-end documents. Each disclosure item includes a status indicator for relevant close tasks, internal controls and management approval. Distributed Document Management Framework Longview FXR offers advanced document management features intended to save your financial reporting team time and money, including the ability to: n Create roll-forward report templates from previous periods n Capture "snapshots" using document versioning n Allow multiple stakeholders to work on the same document at once with document segmentation n Leverage MS Word for collaboration and red-lining n Format disclosures in XBRL, MS Word and “Edgar ready” documents n Export financial data from disclosures n Automate the creation of 10-K, 10-Q and 20-F reports
  • 3. Embedded XBRL Tagging Longview FXR streamlines your reporting process with embedded XBRL tagging that, unlike bolt-on XBRL tagging products, allows you to tag financial data once and output financial statements as often as required. Leverage Existing Taxonomies User-friendly features ensure easy selection and tagging of content, tagging from existing taxonomies and fill-in additional tag information. Intuitive reporting and export features also help to view, validate, export and preview tagged documents ensuring accuracy. Cross-Check and SEC XBRL Compliance The cross-check feature ensures that quantitative and qualitative content is consistent across disclosures. Also, Longview FXR automates tasks in the final steps of SEC document preparation, reducing errors and delays, and enables efficient collaboration across contributing groups such as internal audit, general counsel, investor relations and external auditors. www.longview.com ! " One-Button Financial Statement Publisher Longview FXR automatically generates XBRL compliant disclosures, producing draft 10-Ks, 10-Qs, audit committee books and internal management reports in a variety of output formats. Process Management and Workflow Longview FXR provides a comprehensive set of internal controls, reducing urgent interruptions and streamlining workload spikes. It also significantly reduces the possibility of error with built-in version control and offers the ability to segregate duties including review and approval tasks. Adding workflow to the build process streamlines and improves collaboration and control over the process of gathering input and feedback from multiple stakeholders. Adding workflow to the review process ensures that the action plans are monitored and executed on a timely basis by the appropriate stakeholders. Audit Trail Longview FXR helps compare any two versions of a document to identify changes easily and provides a detailed audit trail from the pre-consolidated close process forward. Leverage XBRL as a Competitive Tool Longview FXR provides quick visibility into the progress of the period-end close and compliance testing processes. It helps manage and track period-end close tasks with visibility of associated dependencies, issues and related control testing. Beyond being a compliance requirement, XBRL can thus become a competitive financial tool; improving management visibility and control into critical financial processes. ! " " # $ 3 ! " " " #
  • 4. 11/2012 About Longview Solutions Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies such as Aon, Brunswick, Lexmark, The Home Depot and Trustmark use to drive performance with speed, visibility and financial integrity. Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting, statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning. Longview is headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA), London (UK), and Amsterdam (NL). For more information please visit www.longview.com. Division Headquarters US Headquarters UK Headquarters Netherlands Headquarters 65 Allstate Parkway, Suite 200 Markham, ON • L3R 9X1 • Canada 2 Radnor Corporate Center 100 Matsonford Road, Suite 230 Radnor, PA • 19087 • USA Nexus House, Station Road, Egham, Surrey TW20 9LB• UK WTC The Hague, 16th floor Prinses Margrietplantsoen 46, 2595 BR The Hague, The Netherlands Tel 905.940.1510 Tel 610.977.0995 Tel 905.940.1510 Tel +31 (0)854884 783 Fax 905.940.8310 Fax 484.367.1153 Fax 905.940.8310 Fax +31 (0) 854884 782 Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com © Copyright 2012 Longview Solutions. All rights reserved.