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 !!!