ECRF2006 XBRL: a new standard for financial reporting XBRL a new standard for financial reporting by Paola Fumiani (InfoCamere Italy)

ECRF2006 XBRL: a new standard for financial reporting XBRL ? An international standard information format that moves business reporting fully onto the Internet The core technology for XBRL (eXtensible Business Reporting Language) is provided by XML A collaboration among the business information supply chain participants. What is XBRL?

ECRF2006 XBRL: a new standard for financial reporting XBRL structure Taxonomy = Dictionary & Rules –A Standard semantic description for business information –Communication of business performance more effectively to analysts and investors Specification = Technology –Technical definition of how XBRL works

ECRF2006 XBRL: a new standard for financial reporting Standardization Validation XBRL – More Than Just Definitions Calculation Cash = Currency + Deposits Formulas Cash ≥ 0 Contexts US $ FY2004 Budgeted Label cashCashEquivalentsAn dShortTermInvestments References GAAP I.2.(a) Instructions Ad Hoc disclosures Presentation Cash & Cash Equivalents XBRL Item XML Item XBRL Item "400" Presentation Comptant et Comptant Equivalents Presentation Geld & Geld nahe Mittel Presentation Kas en Geldmiddelen Presentation Деньги и их эквиваленты Presentation Гроші та їх еквіваленти

ECRF2006 XBRL: a new standard for financial reporting XBRL International, independent non-profit consortium Japan United States Australia Germany Canada United Kingdom IASB China Sweden Denmark Switzerland Netherlands New Zealand Brazil South Africa Korea Colombia Argentina Singapore Spain Ireland Russia Italy France Belgium Poland United Arab Emirates Develops and maintains the XBRL Standard Recognizes and encourages XBRL best practices (approves taxonomies) Facilitates knowledge sharing with members & supports XBRL Jurisdictions

ECRF2006 XBRL: a new standard for financial reporting XBRL Italy: a case study XBRL by the Business Register: annual accounts filing pilot 2006

ECRF2006 XBRL: a new standard for financial reporting Unioncamere, the Union of the 103 Italian Chambers of Commerce, Industry and Handicraft InfoCamere, the technology provider - Hosts the Italian Business Register ‘Registro Imprese’, the public global registry of the enterprises in Italy storing data on the relevant company’s events: constitution, variations, cancellation. - The Italian ‘Registro Imprese’ lists about of enterprises - Receives annual accounts from more than businesses The Italian Company Registration Authorities network

ECRF2006 XBRL: a new standard for financial reporting Italian Company Registration Authority creates the XBRL working group gives life to the Italian GAAP XBRL taxonomy starts the XBRL filing pilot project becomes founding member for the Italian XBRL Jurisdiction 2007 commits for the global XBRL filing project

ECRF2006 XBRL: a new standard for financial reporting The XBRL filing project actors National Accountants association Assosoftware : accounting software developers Company Registration Authority

ECRF2006 XBRL: a new standard for financial reporting The pilot 2006 operational flow Accounting software output XBRL PDF excel GAAP taxonomy e-filing dossier InfoCamere legacy system mapping &converting process

ECRF2006 XBRL: a new standard for financial reporting The first outcomes from the pilot 1 running week in May Chambers of Commerce involved 6 volunteer accountants 32 instance documents..... and we are expecting more in July

ECRF2006 XBRL: a new standard for financial reporting Recommended link thanks for the attention