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XBRL Implementation in IDX

XBRL Implementation in IDX. Februari 2014. Today’s Discussion. Introduction to XBRL XBRL Implementation at IDX More Details about IDX Taxonomy Feedback Q & A. Introduction to XBRL. What is XBRL ?. XBRL – The “Bar Code” for Business Reporting World. An Information Standard.

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XBRL Implementation in IDX

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  1. XBRL Implementation in IDX Februari 2014

  2. Today’s Discussion Introduction to XBRL XBRL Implementation at IDX More Details about IDX Taxonomy Feedback Q & A

  3. Introduction to XBRL

  4. What is XBRL ? XBRL – The “Bar Code” for Business Reporting World An Information Standard

  5. How XBRL Works? The main purpose of XBRL is how business and financial data can be easily exchanged, compared and utilized without any constraints of Accounting Standard or language barrier. XBRL works by creating a sign (called “tag”) which can be identified specifically for each data. This Tag can be easily read by a computer software so that the data could be identified in any language. This method will simplify other parties in gathering and processing data electronically without the need to translate and re-keying of data. It will be easier in comparing data because of the similar tags used in reporting.

  6. XBRL Tagging • How to make computer understand the message? Tagging the information XBRL tags all the information, functioning like barcodes

  7. Reporting Before XBRL Financial System Explanatory Disclosure

  8. Reporting after XBRL XBRL generalizes all reporting languages into 1 standard report Financial System • Improves access to financial information • Facilitates comparison & analysis • Improves accuracy of financial data & reduces costs • Allows for open financial reporting frameworks Explanatory Disclosure

  9. The Advantages of XBRL Improve analysis  of reports Cost savings Faster, more accurate and reliable Decrease manual comparison among reports Decrease Data Re-Entry Improve dissemination of information on the Internet Standardized reporting format

  10. Who will benefit from using XBRL? Source: www.accountingweb.com Companies who prepare financial statements: More efficient preparation of financial statements because the reports will be created one time and rendered as printed reports, on Web sites or as other regulatory filings. Analysts, Investors, and Regulators: Enhanced distribution and usability of existing financial statement information. Automated analysis, significantly reduces re-keying of financial information from one form into another form, receiving information in the format that is more preferable for specific style of analysis. Financial publishers and data aggregators: More efficient data collection lowers operating costs associated with custom, idiosyncratic data feeds and reducing errors while concentrating on adding value to the data and increasing transaction capacity Independent Software Vendors: Virtually any software product that manages financial information can use XBRL for its data export and import formats, thereby increasing its potential for full-interoperability with other financial and analytical applications.

  11. XBRL Usage Currently XBRL has been adopted as standard reporting over the globe source: http://www.xbrl.org/knowledge_centre/projects/map

  12. XBRL Components

  13. XBRL IMPLEMENTATION at IDX

  14. Background Monitoring Perspective • Responsive monitoring requires better, faster, & reliable information management because : • More companies listed on IDX • More dynamics and complexities of corporate actions • More types of reporting and disclosure • More types of securities and type of issuer • Enhancing monitoring ability by creating Business intelegence. Quality of Disclosure Perspective • More reliable and informative disclosure of listed company needed by market and investor • Differences of languages and financial standards between global investors

  15. Listed Companies at IDX *) Number of Listed Companies until Feb 7, 2014

  16. Number of ListedSharesby Industry

  17. Electronic Reporting System IDXnet • IDXNet are electronic reporting system for listed companies, and monitoring of listed companies as well • IDXNet accessible through public internet • IDXNet 1st generation based on XML Form launch at January 2009, used only for equity issuer. • IDXNet 2nd generation based on both PDF Form and XML database launched on March 2013, also used for Bonds, Sukuk, ABS, ETF and SPEI Issuer. OJK is also targeting to implement an equivalent system as IDXnet in 2013.

  18. IDXnet 3rd Generation – XBRL Adoption (Plan)

  19. Planning of XBRL Implementation in IDX 2013 2014 2015 Notes Financial Statement without Disclosure Financial Statement Disclosure Financial Statement without Disclosure Financial Statement without Disclosure Financial Statement without Disclosure

  20. More Details About IDX Taxonomy

  21. XBRL Based Reporting

  22. BEI Taxonomy Folder Structure taxonomy {Release date} xbrl dic forms DEI dic: schema, label, reference, custom datatypes, ELR are located belong to “dic” folder. FIN DEI NOFIN general DEI: for document and entity information; FIN: for financial information; NOFIN: for non-financial information property infrastructure financing CorporateDisclosure rep financingsharia rep: all report components such as PRE, CAL, DEF, sector / subsector specific labels and formula are stored under “rep” folder. insurance securities ep FundDisclosure Collective ep ep common dimensionDefaults

  23. Explanations on IDX Taxonomy DEI IDX Taxonomy Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flow DEI 1. General 2. Property 3. Infrastructure 4. Finance & Sharia 5. Securities 6. Insurance 7. Collective 8. Financing

  24. References in IDX Taxonomy The overall format of the financial statements which have been prepared, has been through a review process by taking samples on 188 listed company’s financial statement in IDX, or representing 35% of all listed companies. Proposed IDX Taxonomy 2014 built by using several references and rules as follow: • Statement of Financial Accounting Standards (PSAK); • Statement of Sharia Accounting Standards; • Provision on Capital Market rule: • BAPEPAM-LK Rule No. VIII.G.7 about The Guidelines of Financial Report Presentation; • BAPEPAM-LK Rule No. VIII.G.17 about The Accounting Guidelines of Securities Companies; • BAPEPAM-LK Circular Letter No. SE-17/BL/2012 about checklist of Financial Statement Disclosure for All Industries in Indonesia Capital Market. The references are the provision that applied in December 31, 2013 and will be applied in January 1, 2015.

  25. Mapping Sector & SubSector in IDX Taxonomy Entry Point

  26. Mapping Sector & SubSector in IDX Taxonomy Entry Point - Continued

  27. Presentation Link Table in IDX Taxonomy

  28. Sample Chart of Accounts (COA)

  29. Creating Instance Document – Sample (1) PT Test Tbk, a company that operates in the basic and chemicals sector and in the pulp & paper sub-sector, needs to submit financial report for the year 2012. PT Test Tbk will need to follow the steps of creating the required instance document for XBRL reporting. These steps are explained below.

  30. Creating Instance Document – Sample (2) A Select entry point Sample of entry point PT Test Tbk

  31. Creating Instance Document – Sample (3) B Selectlinkbase (including form) 5 3 1 4 2

  32. Creating Instance Document – Sample (4) C Create Taxonomy Schema Based on Linkbase Test-FY2012.xsd

  33. Creating Instance Document – Sample (5) D Create Instance Document

  34. Creating Instance Document – Sample (6) E Validate Data

  35. Creating Instance Document – Sample (7) Formula Validation Existence Validation Obligation to fill selected account in the financial statement. Example: Current Asset, Non Current Asset, Total Asset, Total Equity, etc. Assertion Validation Interconnection validation of certain account in financial statement. Example: Cash balance in the Statement of Financial position must be equal with Ending Cash balance in the Cash Flow Statement.

  36. Creating Instance Document – Sample (7) After data validation, the instance document can be saved and ready to be submitted to IDX together with the schema file.

  37. Feedback

  38. Purpose of Socialization Introducing IDX Taxonomy and its development planning To obtain public reviews and feedback for IDX Taxonomy from Listed Companies

  39. Planning After Feedback Taxonomy Recognition Process Public Review Taxonomy Finalization

  40. XBRL Information - Website

  41. File for Public Review Review based on related Listed industry

  42. Guidance PublicReview Go towebsite : www.idx.co.id Download file from“XBRL taxonomy”  “Files and supporting materials”  “Proposed IDX Taxonomy 2014 full set” Review Chart of Account Review Formula Fill the public review form Submit public review form via email toxbrl@idx.co.id no later than March 14, 2014 *) IDX willrecap all feedback by the cut off date as part of theIDX Taxonomyrefinement process. The updated taxonomy after the review process will become the standard reporting format for financial statements which will be submitted by Listed Companiesto IDX through electronic reporting.

  43. Requested for review Chart of Account (Sample) Formula (Sample)

  44. Form Feedback Link

  45. Thank You

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