Discussion of “SportsStuff.com—Reporting Financial Performance in XBRL with Assurance” Uday S. Murthy University of South Florida University of Waterloo-CICA Information Systems Assurance Symposium Toronto, Canada October 22, 2005

2 Introduction & Case Overview  XML and XBRL are key technologies that accounting students need to comprehend  Limited set of rich case-based instructional resources available for XML/XBRL  Debreceny and White SSC case is a much-needed addition  Case is well-written  Valuable hands-on assignments included  Complements Geerts and White (2004), which covered XML

3 Motivation & Setup  XBRL and information supply chains  “Pre-XBRL” mechanisms for exchanging information?  What problem is XBRL trying to fix?  LOAN reporting requirement –innovative way of “selling” the need for SSC to deploy XBRL  What about non-mandated reasons for using XBRL –B2B information exchange –Reengineering B2B processes  The X in XML –How can XBRL be “extended” to incorporate reporting requirements unique to SSC?

4 SSC Particulars  Courses in which case can be used  Positioning within AIS course  Sequencing relative to the Auditing course  Case objectives vs. learning objectives

5 SSC Particulars…contd.  Background reading –Auditing –XBRL attestation  CICA White Paper  PCAOB Staff Q&A  Key XBRL attestation issues –Tagging from internal acct system to XBRL –Using appropriate taxonomy –Point in time vs. real-time reporting

6 SSC Particulars…contd.  XBRL taxonomy used –us-pte vs. us-gaap-ci  Presentation & calculation linkbases  Potential use of calculation linkbases for ensuring internal consistency (validity) of an XBRL document

7 A model of XBRL attestation issues Internal accounting System (XML-based) Official XBRL Taxonomy repository XBRL reports Correct taxonomy used? Mapping accurate? -- Point in time -- Real time Document well- formed & valid? Document internally consistent?

8 Teaching Notes  Learning objectives for each individual assignment  Share authors experiences in using the cases –Tips and tricks –Student missteps  Assessment guidance  Tables showing key terms

9 Instructional Benefits  Assn 1: construct well-formed XBRL document -- reinforces XML concepts  Assn 2: issues in providing XBRL attestation – fuzzy, deliverables unclear  Assn 3: independent accountant’s report – copy and paste exercise?  Assn 4: combines 1 and 3 – rubber meets the road

10 Extensions  Case 1: Geerts & White –XML

11 Extensions  Case 1: Geerts & White –XML  Case 2: Debreceny & White –XBRL

12 Extensions  Case 1: Geerts & White –XML  Case 1.5: Geerts & Debreceny? –XML-based accounting system  Case 2: Debreceny & White –XBRL

13 Extensions & Conclusion  Assignment involving calculation linkbases –“calcRef” attribute?  Debreceny & White case a welcome addition for instructors seeking to incorporate XBRL into their courses