Filing annual accounts in Germany how XBRL supports the reduction of costs for legal publications Sascha Heinig, 06/26/2009

 Bundesanzeiger PH  Electronic Federal Gazette  Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities  Conclusion  Next steps 206/26/2009S. Heinig

 1949Founded through the Federal Republic of Germany  1950Introduction of the law for „legal publication” The newspaper „Bundesanzeiger“ gets official gazette for legal announcements and publications in Germany  2003 Stepwise transformation to electronic publication and filing  2007 Release of the law “EHUG” End of double publication of register data Foundation of the business register „Unternehmensregister“ 06/26/20093S. Heinig

legal gazettes  Bundesanzeiger -legal announcements  Bundesgesetzblatt -publication of federal laws  Electronic Bundesanzeiger since legal announcements business register  electronic business register since storage of all companies data from multiple sources -one-stop shop for companies information filing platforms  publications platform for electronic filing 406/26/2009S. Heinig legal publication media

 Bundesanzeiger PH  Electronic Federal Gazette  Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities  Conclusion  Next steps 506/26/2009S. Heinig

606/26/2009S. Heinig  First significant change in Media in 2003 ◦ The newspaper started loosing its importance  End of double publication since 2007 ◦ lost of all publications of companies register data to companies registers, but ◦ exclusive right for publication of annual accounts  Publication instead of depositation for small and midsized companies caused an additional amount of publication (change in fining) Development of the Federal Gazette

 published: by Ministry of Justice  content: legal publication esp. ◦ annual accounts ◦ financial reports ◦ public notifications ◦ … 706/26/2009S. Heinig

806/26/2009S. Heinig main tasks:  check of Completeness and filing whithin prescribed time (4 Month - 1 Year)  transformation of heterogeneous data into a standardized internet format  publication ebundesanzeiger.de  transmission to business register  peak season December – March  business is driven by the production of annual accounts average input of annual accounts 2007 / 2008 / Jan 07 Mrz 07Mai 07 Jul 07 Sep 07 Nov 07 Jan 08 Mrz 08Mai 08 Jul 08 Sep 08 Nov 08 Jan 09 Mrz 09

 Bundesanzeiger PH  Electronic Federal Gazette  Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities  Conclusion  Next steps 906/26/2009S. Heinig

1006/26/2009S. Heinig  Filing -Online publications platform other electronic interfaces -Offline general posting  One electronic filing platform for legal gazette and business register

1106/26/2009S. Heinig currently accepted filing formats  legal gazette ◦ XML / XBRL ◦ MS-Office ◦ PDF ◦ paper (till 2009)  business register ◦ XML ◦ PDF (as a service) Filing mainly in XML / XBRL  price  usability 0% 20% 40% 60% 80% 100% Jan. 07 Mrz. 07 Mai. 07 Jul. 07 Sep. 07 Nov. 07 Jan. 08 Mrz. 08 Mai. 08 Jul. 08 Sep. 08 Nov. 08 Jan. 09 Mrz. 09 formats for filing XBRLXMLOther

 Bundesanzeiger PH  Electronic Federal Gazette  Filing annual accounts ◦ The Datev Interface Project ◦ Additional XBRL activities  Conclusion  Next Steps 1206/26/2009S. Heinig

 Main goal 2007 by Ministry of Justice: ◦ provide an easy and cheap way to file annual accounts ◦ high coverage  Subgoal: ◦ reduction of filing costs to 50 Euro ◦ reduction of administrativ complexity for SME´s (multiple use of accounting data) 06/26/2009S. Heinig13

 Project development of a filing-interface based on re-usable accounting data (XBRL) with DATEV*  Milestones ◦ kickoff in spring 2007 ◦ first productive version in autumn 2007  Actual status ◦ used by nearly all customers of DATEV ◦ more than 800,000 accounts processed so long ◦ more than 30,000 accounts processed per day during the peak season * The DATEV is the german market leader for accounting software and combined services. Their product is used by 2/3 of all companies in Germany (esp. SME´s)  d 06/26/2009S. Heinig14

Step 1 - 3: company identification 06/26/2009S. Heinig15

Step3 - 5: master data Step 3 - 5: master data 06/26/2009S. Heinig16

Step 6: notes 06/26/2009S. Heinig17

Step 7: mapping (control) 06/26/2009S. Heinig18

Step 8: preview 06/26/2009S. Heinig19

Step 9: transfer 06/26/2009S. Heinig20

 Bundesanzeiger PH  Electronic Federal Gazette  Filing annual accounts ◦ The Datev Interface project ◦ Additional XBRL activities  Conclusion  Next steps 2106/26/2009S. Heinig

 MS-Office based XBRL Tool (German AP, IFRS)  XBRL Upload via publications platform  German AP (individual taxonomy and bank extensions)  IFRS (individual taxonomy extensions)  US-GAAP 06/26/2009S. Heinig22

XBRL is a success story  internal reduction of costs through: ◦ reduction of troughput times  reduced approval (technical, content)  accelerated production  external reduction of costs through ◦ reduction of prices for filling (actual Euro 35 for SME´s) ◦ reduced work on filing preparations through multiple use of accounting data 06/26/2009S. Heinig23

 Expanding the XBRL activities ◦ add filing interfaces to more accounting software ◦ rethink the layoutoriented xml strategy  external software  web forms  Upload strategy ◦ focus on web-based interfaces for filing in XBRL 06/26/2009S. Heinig24

06/26/2009S. Heinig25