Understand the limitations of conventional technologies. Change the way you work with a cloud based productively platforms + Blockchain + XBRL + LEI's.

1. The Amsterdam Chapter
November 14, 2016
What Every Management
Accountants Needs to Know
About Cloud Computing

2. Learning Objectives
Understand the limitations of conventional
technologies.
Change the way you work with a cloud based
productively platforms + Blockchain + XBRL + LEI's.

3. The contents of this presentation are confidential. Copyright © 2016 Workiva.
Disclaimer
The views and opinions expressed in this presentation is that of the author
and do not necessarily reflect the official policy or position of Workiva, Inc.

4. Cloud + Blockchain + XBRL + LEIs
A Dynamic New Era for the Management Accounting Profession

5. "The practice of using a network of remote servers
hosted on the Internet to store, manage, and process
data, rather than a local server or a personal computer".
What is Cloud Computing?
noun

6. What is Blockchain?
The original concept of blockchain was published via a cryptography mailing list in November, 2008,
under the alias Satoshi Nakamoto.
A blockchain
distributed ledger is
essentially an asset
database shared
across a network
(private or public) of
multiple sites,
geographies or
institutions where the
underlying
transactions are
collected in digital
blocks.

7. What If the General Ledger Were to Become a Distributed Ledger?
"forward thinking leaders like
Don Tapscott,
say that the blockchain
technology creates a
paradigm shift, as computer
and spreadsheets and
accounting software changed
the very nature of
accounting."

8. What is XBRL?
1. The XBRL International Consortium
2. The XBRL Technical Specification
3. The XBRL Taxonomies

9. Resource

10. What is LEIs?
Source: https://www.workiva.com/blog/why-lei-should-be-your-vocabulary

12. Cloud + Blockchain + XBRL _ LEIs
A Dynamic New Era for the Management Accounting Profession

13. • Legacy processes and disconnected technologies are inefficient at helping users find,
understand and report the most critical and relevant information on a timely basis.
• The management accountant often struggle to manage, report, analyze and understand
their ever-expanding volume of data.
• The management accountant is required to report an increasing amount of disparate
information to a variety of regulators and other internal and external stakeholders,
straining organizations’ ability to produce consistent data and reports.
The Problem

14. Are conventional
spreadsheets
holding you back?

15. Source: http://www.kpmg.com/US/en/IssuesAndInsights/ArticlesPublictions/Documents/intelligent-finance-organizations-summary.pdf.

17. Are conventional
business processes
holding you back?

18. Process Complexity Increases Risk
Source: Workiva, Inc

19. A Universal Process Framework in the Cloud

20. Source: Workiva, Inc

21. Change the Way You Work in the Cloud

22. The Spreadsheet’s Business Environment
1. Determine what role spreadsheets
play in your business, and plan your
spreadsheet standards and processes
accordingly.
2. Adopt a standard for your
organisation and stick to it.
3. Ensure that everyone involved in the
creation or use of spreadsheets has an
appropriate level of knowledge and
competence.
4. Work collaboratively, share
ownership, peer review.

23. The Spreadsheet's Business Environment
Cloud based spreadsheets do more than
just digitize old ways of doing things; they
make new ways of doing things possible.
A CLOUD-BASED COLLBOARATIVE
PRODUCTIVITY PLATFORM WITH SIGLE
SOURCE OF TRUTH NOT JUST A SPREADSHEET

24. Change the Way You Work
Create trusted datasets that
are linked and aggregated
throughout documents,
spreadsheets, presentations
and reports.

25. Designing and Building Your Spreadsheet
5. Appropriate tool for the job.
6. Identify the audience.
7. Include an ‘About’ or ‘Welcome’ sheet.
8. Design for longevity.
9. Focus on the required outputs.
10.Separate and clearly identify inputs,
workings and outputs .
11.Be consistent in structure.
12.Be consistent in the use of formulae.
13.Keep formulae as short and simple.
14.Never embed in a formula anything that
might change.
15.Perform a calculation once and then refer
back to that calculation.
16.Avoid using advanced features.

26. Designing and Building Your Spreadsheet
• Develop consistent data collection workbooks.
• Develop consistent certification workflows.
• Dynamically assign section or document level permissions.
• Digitally set up data links to establish a relationships among
values.
• Easily share and understand complex formulas between
spreadsheets, documents and presentations.
• Monitor the process with a real-time dashboard.

27. Confidence in Your Data.
• Consistent data across all
reports by creating a single
source of data truth that's
live-linked to your financial
reports and presentations.
• Make a change once, and see
that update flow across all
documents, workbooks, and
reported with live-linked
data.
• Permission based.

28. Spreadsheet Risks and Controls
17.Have a system of backup and version
control, which should be applied
consistently within an organisation.
18.Rigorously test the workbook.
19.Build in checks, controls and alerts
from the outset and during the course
of spreadsheet design.
20.Protect parts of the workbook that
are not supposed to be changed by
users.

29. Spreadsheet Risks and Controls
• Never worry about a version control or backup.
• Digitally embed and annotate evidence in spreadsheets by integrating
for the purposes of risk identification, assessment, and control.
• Synchronized data and permission based collaboration.
• Dynamically manage format of the spreadsheets.
• Tracking and monitoring changes as all sources and progress are
tracked in dashboards with a full audit trail.

30. Streamline Your Audit Risk
Assessments for Timely Insight.
Simplify audit management. Increase
transparency, aggregate risk assessment data,
and improve collaboration between teams.
Accelerate feedback processes and better
mitigate operational and enterprise risks.
Easily distribute surveys and automate the
aggregation of audit information.
Facilitate collaboration between internal audit
and business owners.
Identify, analyze, and monitor risks
continuously with audit analytics.

31. The power
of cloud
linking

32. Results
An Integrated Business Productivity
Application
Not Just Stand Alone Applications!

33. Financial and Accounting Tools Have
Moved to Cloud Platforms.
Key Takeaway

34. The contents of this presentation are confidential. Copyright © 2016 Workiva.
Questions Questions ?
Presenter: Liv Apneseth Watson
Title: Senior Director of Strategic Customer Initiatives
Company: Workiva, Inc. (NYSE: WK)
E-Mail: liv.watson@workiva.com