Date post: | 29-Jun-2015 |
Category: |
Technology |
Upload: | umanga-bista |
View: | 1,218 times |
Download: | 4 times |
Final Year Project PresentationIOE, Pulchowk Campus29th August, 2013
XBRL Implementation for
Financial Reporting to the
Office of Company Registrar
2
• Aayush Shrestha - Roll No. 16202
• Ashok Basnet - Roll No. 16202
• Sarvagya Pant - Roll No. 16234
• Umanga Bista - Roll No. 16245
• Supervised By :
Dr. Aman Shakya, Deputy Head of DoECE, IOE Pulchowk Campus
• Co-supervised By:
Er. Sansar Jung Dewan, Head of IT Department, Office of Company Registrar,
MoI Nepal
Team Members
3
• Introduction• Background and Existing Systems
• Introduction to XBRL
• Goals and Objectives of Project
• System Description
• Results
• Conclusion• Summary
• Limitations and Future Enhancements
Overview
4
Introduction
5
• Financial Reporting to Office Of Company Registrar (OCR)
• Major concern for Stakeholders
• Problems:• Everything on stacks of paper• Not computable• Lack of a common standard• Not readily available• Redundancy and Consistency
Background
Introduction
6
• eXtensible Business Reporting Language
• Dialect of XML for business and financial data
• Internationally accepted
• Taxonomy & Instance documents
• IFRS and GAAP
XBRL : A Global Standard
Introduction
7
• Initiative of OCR in Nepal to adopt XBRL
• Objectives• Creating tools to generate XBRL documents of
financial reports• Maintaining a data repository of XBRL filings• Demonstrating prospect of XBRL via analytics
generated over XBRL data• Facilitate Open Data Access
Goals and Objectives
Introduction
8
System Description
9
Overall System
System Description
Instance Creator Repository
Financial Statements
XBRL Submit
Analytics XBRL open data access
Companies
10
Instance Creator – MS Excel based
System DescriptionMapping Engine
Reference taxonomy
Financial Statements
XBRL file
Domain Expert
Mapping Definitions
• Macro program on MS Excel
• Wide coverage
• Needs Domain Expert
11
Results
Sample Financial Document
12
Results
MS Excel Based Instance Creator
13
Results
Explicit Mapping of Local Terms
14Instance Creator – Web Form based
System Description
Financial statements
Web Form Mapping EngineValidation XBRL
output
Reference Taxonomy
• Easier to create XBRL Document
• Limited to Balance Sheet (for now)
15
Results
Web Based Instance Creator
16
Results
Mapping Dictionary Management
17
Results
XBRL Output (validated)
18
Repository, Public Access and Analytics
System Description
• XBRL Document submission for authenticated users
• Analytics and Data Visualization for admin and verified users
• Open data access for public users
Repository
Submit acceptedWeb formUser
User Analytics
Web formPublic
XBRL files
19
Results
20
• Generated over 200 valid XBRL Documents
• Real world financial data from around 10 companies (over a period of 5 years)
• Over 50 XBRL documents archived at the repository
Experiment Setup
Results
21
Results
Dashboard
22
Results
Advanced Search Options
23
Results
Analytics and Reports
24
Results
xQuery Executor
25
Conclusion
26
• Creation Of Valid XBRL document from Financial Statements.
• Development of XBRL tool for end users.
• XBRL repository
• Analytics for Stakeholders.
• Contribution to Open Data Initiative.
Summary
Conclusion
27
• Lack of resources and reachable experts.
• Cross-domain issues
• Mapping IFRS terms according to Nepalese Accounting Standards
Limitations:
• Web form only for balance sheet generation.
• No full mapping between IFRS and NAS.
Conclusion
Problem Faced and Limitations
28
• Extension of Web form to support other Financial Statements.
• Localizations of IFRS in context of Nepal.
• Advanced Analytics for Stakeholders.
Conclusion
Future Enhancements
29
THANK YOU !!!