10 th International Conference Brussels November 17, 2004 Aad Bergman

Agenda Introduction The Challenge The Solution Summary

About Pro Management Pro Management Group –Pro Management Accountants –Pro Management Administrations –Pro Management Education Support –Pro Management Accountancy Software Since employees in three locations (Rotterdam, The Hague and Brussels) Pro Management Accountancy Software since 1996

PM Accountancy Software Fully integrated, organisation wide software solutions for accountancy and professional services organisations Software is developed based on our own knowledge and experience as an accountancy organisation Plus the knowledge and experience of over 400 organisations using our software Pro Management is pro actively involved in new developments like XBRL, Taxonomies, Audit Files We are very eager to bring benefits to our customers based on these new technologies and standards

Target market Auditing firms Accountancy firms Financial and tax advisors From 1 to 100+ users Standard solution –Out of the Box –Short implementation cycle –Minimal training req’s –Low Total Cost of Ownership Single body 10 – – 10 employees

PM FIXED ASSETS PM TAX LINK PM ONLINE PM REPORT ANNUAL REPORTS PM DOCMAKER PM MAIL COMMUNICATION PM CONSOLI- DATION PM FINANCIAL REPORTING PM BALANCE BASE PM PERFORMANCE MANAGEMENT FINANCIAL REPORTING PM TIME PM AUDIT PLAN PM PROGRESS PM AOIC PLANNING, PROGRESS, TIME RECORDING, INVOICING PM PLANNING PM INVOICE RELATIONS DIGITAL FILE INTEGRATION EMPLOYEE PM-RECORD

Accountancy firms face Multiple Challenges !!!

Accounting Firm Personnel Customer Debtors Time Recording Invoices Prof. Assoc. WTA Digital Files Corres- pondence Liability TAXRevenueCosts NL Taxonomy Digital Tax Declaration CompetitionKnowledge Audit Programs Banks InternetASP XBRL Audit Files EducationProductivity IASUS GAAPIFRS Sabanes Oxley

XBRL Challenges General feeling: XBRL - Not for me! Dutch Situation –7.000 to accountancy firms – companies – (??)+ Finance professionals How many would know what XBRL stands for? Toy for business consultants??? Only for internationally operating corporates???

XBRL Challenges What is the impact on small and medium enterprises (SME’s) and how can we minimize the impact Main driver: regulation and legislation Majority of companies is not obliged to comply (for the short term) Does this mean there is no impact for 95% of the market NO External parties will require information based on XBRL standards –Banks, Tax Authorities, Shareholders, …….. So, get prepared!

XBRL Benefits for SME’s External Financial Reportin g Business Operations Internal Financi al Reporti ng XBRL CustomerAccounting Firm Tax Authority Tax Reportin g XBRL Stakeholders Future situation

XBRL Benefits for SME’s External Financial Reportin g Business Operations Internal Financi al Reporti ng Scheme Ledger Scheme CustomerAccounting Firm Tax Authority Tax Reportin g TAX Scheme Stakeholders Current situation

XBRL Benefits for SME’s Ledger Schemes 200+ Financial Applications 7 tax applications Variety of other information requirements Reporting Scheme Ledger Scheme TAX Scheme TAXONOMYXBRL 2.1AUDIT FILE ………

Benefits for SME’s Open and clearly defined standards based on taxonomies Independence of (versions of) taxonomies Better understanding of information Improved flow of data through the information supply chain Audit trail facilities Less reporting time Less internal and external costs

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