SlideShare a Scribd company logo
Use of AI/ML for automating
the XBRL tagging process
• Deepta Rangarajan
• IRIS Business Services
• Member of XBRL International,
XBRL US, XBRL Europe and XBRL
South Africa
Trends Around the World for Any New Mandate
 Do not want to take risk of getting it wrong.
23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
• Companies usually outsource the XBRL tagging process due to
 No understanding of XBRL or taxonomy.
 Time and efforts in converting Annual Financial Report to XBRL/iXBRL
iXBRL has additional complexity of layout and formatting to look pretty.
Existing process of First time XBRL tagging
• Maping exercise:
23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
Select the lineitem from the Financial Statement and look for appropriate
element in the taxonomy.
Map the appropriate element to the lineitem and XBRL attributes (date, unit,
scale)
• Create Company taxonomy
Create Company taxonomy based on mapped items
Estimated time: 5-10 hours
 ~ 3-6 hours for mapping Financial Statements
~2-3 hours for building taxonomy
Game Changer: AI/ML for iXBRL tagging
DEMO OF AI/ML
23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
AI/ML used one step beyond iXBRL reporting
Automated Press Releases using AI/ML
Smart Analytics and Comparisons
23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
Thank You !
Deepta Rangarajan
Co-Founder
IRIS Business Services Limited
23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019

More Related Content

Similar to Use of AI/ML for automating the XBRL tagging process

Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Corporate Registers Forum
 
South Africa - CIPC XBRL Project Journey and Update
South Africa - CIPC XBRL Project Journey and UpdateSouth Africa - CIPC XBRL Project Journey and Update
South Africa - CIPC XBRL Project Journey and Update
Corporate Registers Forum
 
Greycon Case Study - IBEMA
Greycon Case Study - IBEMAGreycon Case Study - IBEMA
Greycon Case Study - IBEMA
Constantine Goulimis
 
FYP2-Growth engine
FYP2-Growth engineFYP2-Growth engine
FYP2-Growth engine
Usama Husain
 
Resume Best Practices
Resume Best PracticesResume Best Practices
Resume Best Practices
SupportGCI
 
XBRL Implementation for Financial Reporting | NCASA
XBRL Implementation for Financial Reporting | NCASAXBRL Implementation for Financial Reporting | NCASA
XBRL Implementation for Financial Reporting | NCASA
Aayush Shrestha
 
XBRL Implementation for Financial Reporting
XBRL Implementation for Financial ReportingXBRL Implementation for Financial Reporting
XBRL Implementation for Financial Reporting
Aayush Shrestha
 
Spreadsheet hell to reporting heaven
Spreadsheet hell to reporting heavenSpreadsheet hell to reporting heaven
Spreadsheet hell to reporting heaven
Personiv
 
Oracle BI Publisher to Transform Cloud ERP Reports
Oracle BI Publisher to Transform Cloud ERP ReportsOracle BI Publisher to Transform Cloud ERP Reports
Oracle BI Publisher to Transform Cloud ERP Reports
Mahesh Vallampati
 
Accounts Outsourcing for Accoutants
Accounts Outsourcing for Accoutants Accounts Outsourcing for Accoutants
Accounts Outsourcing for Accoutants
QX Accounting Services Ltd
 
An Introduction To XBRL
An Introduction To XBRLAn Introduction To XBRL
An Introduction To XBRL
Dhiren Gala
 
Sppt chap009
Sppt chap009Sppt chap009
Sppt chap009
Awais Ahmed
 
Resume Best Practices
Resume Best PracticesResume Best Practices
Resume Best Practices
SupportGCI
 
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
Alok Singh
 
Resume bestpractices pgpm_im
Resume bestpractices pgpm_imResume bestpractices pgpm_im
Resume bestpractices pgpm_im
SupportGCI
 
Ml conference slides
Ml conference slidesMl conference slides
Ml conference slides
QuantUniversity
 
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docxChapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
robertad6
 
Ignite Internship Pilot Program
Ignite Internship Pilot ProgramIgnite Internship Pilot Program
Ignite Internship Pilot Program
Kelly P Perkins, CTS
 
Resume BestPractices
Resume BestPracticesResume BestPractices
Resume BestPractices
SupportGCI
 
Practical FinOps in Practice
Practical FinOps in PracticePractical FinOps in Practice
Practical FinOps in Practice
Petri Kallberg
 

Similar to Use of AI/ML for automating the XBRL tagging process (20)

Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
 
South Africa - CIPC XBRL Project Journey and Update
South Africa - CIPC XBRL Project Journey and UpdateSouth Africa - CIPC XBRL Project Journey and Update
South Africa - CIPC XBRL Project Journey and Update
 
Greycon Case Study - IBEMA
Greycon Case Study - IBEMAGreycon Case Study - IBEMA
Greycon Case Study - IBEMA
 
FYP2-Growth engine
FYP2-Growth engineFYP2-Growth engine
FYP2-Growth engine
 
Resume Best Practices
Resume Best PracticesResume Best Practices
Resume Best Practices
 
XBRL Implementation for Financial Reporting | NCASA
XBRL Implementation for Financial Reporting | NCASAXBRL Implementation for Financial Reporting | NCASA
XBRL Implementation for Financial Reporting | NCASA
 
XBRL Implementation for Financial Reporting
XBRL Implementation for Financial ReportingXBRL Implementation for Financial Reporting
XBRL Implementation for Financial Reporting
 
Spreadsheet hell to reporting heaven
Spreadsheet hell to reporting heavenSpreadsheet hell to reporting heaven
Spreadsheet hell to reporting heaven
 
Oracle BI Publisher to Transform Cloud ERP Reports
Oracle BI Publisher to Transform Cloud ERP ReportsOracle BI Publisher to Transform Cloud ERP Reports
Oracle BI Publisher to Transform Cloud ERP Reports
 
Accounts Outsourcing for Accoutants
Accounts Outsourcing for Accoutants Accounts Outsourcing for Accoutants
Accounts Outsourcing for Accoutants
 
An Introduction To XBRL
An Introduction To XBRLAn Introduction To XBRL
An Introduction To XBRL
 
Sppt chap009
Sppt chap009Sppt chap009
Sppt chap009
 
Resume Best Practices
Resume Best PracticesResume Best Practices
Resume Best Practices
 
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
ODSC18, London, How to build high performing weighted XGBoost ML Model for Re...
 
Resume bestpractices pgpm_im
Resume bestpractices pgpm_imResume bestpractices pgpm_im
Resume bestpractices pgpm_im
 
Ml conference slides
Ml conference slidesMl conference slides
Ml conference slides
 
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docxChapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
Chapter 7Lean Thinking and Lean SystemsMcGraw-Hill Ed.docx
 
Ignite Internship Pilot Program
Ignite Internship Pilot ProgramIgnite Internship Pilot Program
Ignite Internship Pilot Program
 
Resume BestPractices
Resume BestPracticesResume BestPractices
Resume BestPractices
 
Practical FinOps in Practice
Practical FinOps in PracticePractical FinOps in Practice
Practical FinOps in Practice
 

Recently uploaded

AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)
HarpalGohil4
 
What is an RPA CoE? Session 2 – CoE Roles
What is an RPA CoE?  Session 2 – CoE RolesWhat is an RPA CoE?  Session 2 – CoE Roles
What is an RPA CoE? Session 2 – CoE Roles
DianaGray10
 
Principle of conventional tomography-Bibash Shahi ppt..pptx
Principle of conventional tomography-Bibash Shahi ppt..pptxPrinciple of conventional tomography-Bibash Shahi ppt..pptx
Principle of conventional tomography-Bibash Shahi ppt..pptx
BibashShahi
 
Essentials of Automations: Exploring Attributes & Automation Parameters
Essentials of Automations: Exploring Attributes & Automation ParametersEssentials of Automations: Exploring Attributes & Automation Parameters
Essentials of Automations: Exploring Attributes & Automation Parameters
Safe Software
 
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge GraphGraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
Neo4j
 
Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |
AstuteBusiness
 
Y-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PPY-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PP
c5vrf27qcz
 
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
Fwdays
 
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeckPoznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
FilipTomaszewski5
 
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
AlexanderRichford
 
Introducing BoxLang : A new JVM language for productivity and modularity!
Introducing BoxLang : A new JVM language for productivity and modularity!Introducing BoxLang : A new JVM language for productivity and modularity!
Introducing BoxLang : A new JVM language for productivity and modularity!
Ortus Solutions, Corp
 
"Choosing proper type of scaling", Olena Syrota
"Choosing proper type of scaling", Olena Syrota"Choosing proper type of scaling", Olena Syrota
"Choosing proper type of scaling", Olena Syrota
Fwdays
 
Dandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity serverDandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity server
Antonios Katsarakis
 
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
AI in the Workplace Reskilling, Upskilling, and Future Work.pptxAI in the Workplace Reskilling, Upskilling, and Future Work.pptx
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
Sunil Jagani
 
Northern Engraving | Nameplate Manufacturing Process - 2024
Northern Engraving | Nameplate Manufacturing Process - 2024Northern Engraving | Nameplate Manufacturing Process - 2024
Northern Engraving | Nameplate Manufacturing Process - 2024
Northern Engraving
 
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectorsConnector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
DianaGray10
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving
 
GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)
Javier Junquera
 
Mutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented ChatbotsMutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented Chatbots
Pablo Gómez Abajo
 
A Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's ArchitectureA Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's Architecture
ScyllaDB
 

Recently uploaded (20)

AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)
 
What is an RPA CoE? Session 2 – CoE Roles
What is an RPA CoE?  Session 2 – CoE RolesWhat is an RPA CoE?  Session 2 – CoE Roles
What is an RPA CoE? Session 2 – CoE Roles
 
Principle of conventional tomography-Bibash Shahi ppt..pptx
Principle of conventional tomography-Bibash Shahi ppt..pptxPrinciple of conventional tomography-Bibash Shahi ppt..pptx
Principle of conventional tomography-Bibash Shahi ppt..pptx
 
Essentials of Automations: Exploring Attributes & Automation Parameters
Essentials of Automations: Exploring Attributes & Automation ParametersEssentials of Automations: Exploring Attributes & Automation Parameters
Essentials of Automations: Exploring Attributes & Automation Parameters
 
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge GraphGraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
 
Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |
 
Y-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PPY-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PP
 
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
 
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeckPoznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
Poznań ACE event - 19.06.2024 Team 24 Wrapup slidedeck
 
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
QR Secure: A Hybrid Approach Using Machine Learning and Security Validation F...
 
Introducing BoxLang : A new JVM language for productivity and modularity!
Introducing BoxLang : A new JVM language for productivity and modularity!Introducing BoxLang : A new JVM language for productivity and modularity!
Introducing BoxLang : A new JVM language for productivity and modularity!
 
"Choosing proper type of scaling", Olena Syrota
"Choosing proper type of scaling", Olena Syrota"Choosing proper type of scaling", Olena Syrota
"Choosing proper type of scaling", Olena Syrota
 
Dandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity serverDandelion Hashtable: beyond billion requests per second on a commodity server
Dandelion Hashtable: beyond billion requests per second on a commodity server
 
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
AI in the Workplace Reskilling, Upskilling, and Future Work.pptxAI in the Workplace Reskilling, Upskilling, and Future Work.pptx
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
 
Northern Engraving | Nameplate Manufacturing Process - 2024
Northern Engraving | Nameplate Manufacturing Process - 2024Northern Engraving | Nameplate Manufacturing Process - 2024
Northern Engraving | Nameplate Manufacturing Process - 2024
 
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectorsConnector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectors
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
 
GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)GNSS spoofing via SDR (Criptored Talks 2024)
GNSS spoofing via SDR (Criptored Talks 2024)
 
Mutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented ChatbotsMutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented Chatbots
 
A Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's ArchitectureA Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's Architecture
 

Use of AI/ML for automating the XBRL tagging process

  • 1. Use of AI/ML for automating the XBRL tagging process • Deepta Rangarajan • IRIS Business Services • Member of XBRL International, XBRL US, XBRL Europe and XBRL South Africa
  • 2. Trends Around the World for Any New Mandate  Do not want to take risk of getting it wrong. 23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019 • Companies usually outsource the XBRL tagging process due to  No understanding of XBRL or taxonomy.  Time and efforts in converting Annual Financial Report to XBRL/iXBRL iXBRL has additional complexity of layout and formatting to look pretty.
  • 3. Existing process of First time XBRL tagging • Maping exercise: 23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019 Select the lineitem from the Financial Statement and look for appropriate element in the taxonomy. Map the appropriate element to the lineitem and XBRL attributes (date, unit, scale) • Create Company taxonomy Create Company taxonomy based on mapped items Estimated time: 5-10 hours  ~ 3-6 hours for mapping Financial Statements ~2-3 hours for building taxonomy
  • 4. Game Changer: AI/ML for iXBRL tagging DEMO OF AI/ML 23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
  • 5. AI/ML used one step beyond iXBRL reporting Automated Press Releases using AI/ML Smart Analytics and Comparisons 23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019
  • 6. Thank You ! Deepta Rangarajan Co-Founder IRIS Business Services Limited 23rd XBRL Europe Day in Paris, FranceMay 28-29th 2019