All business have to report their financial results
• Essentially to shareholders, but also to
• Authorities and other interested parties like
– Australian Securities and Investment Corporation
– Australian Tax Office
– Investment analysts and managers
– Share brokers
– Etc
• Another problem domain is the consolidation of group accounts – some companies have thousands of subsidiaries in dozens of countries
• Financial report are often different for different users
Company AGL
Managementreports
XBRLstandards
ConsolidatedReporting
DB
Company BGL
Managementreports
XBRLstandards Group
Managementreports
XBRLstandards
ExternalFinancialReports
ASX
ASIC
StockBrokers
FundManagers
ATO
Share-holders
XSD – SchemaXSL – PresentationTaxonomies
These reports must
• Meet Australian Accounting standards• And now the International Accounting
Standards• These are complex and subject to
interpretation• So no two sets of accounts look the same• They are often big – over 300 pages –
Telstra accounts are 394 pages
<ifrs-gp:PropertyPlantEquipmentNet contextRef="Current_AsOf" unitRef="U-Euros" decimals="0">540000</ifrs-gp:PropertyPlantEquipmentNet>
<ifrs-gp:PropertyPlantEquipmentNet contextRef="Prior_AsOf" unitRef="U-Euros" decimals="0">400000</ifrs-gp:PropertyPlantEquipmentNet>
<tr> <td class="Label">Property, Plant and Equipment</td> - <td class="Value"> <xsl:value-of select="format-number(/xbrli:xbrl/ifrs-gp:PropertyPlantEquipmentNet,'#,##0','base')" /> </td> </tr>
XML
XSL
Formattedaccounts