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Dimensions and Formulas for Financial Professionals

Dimensions and Formulas for Financial Professionals. Charles Hoffman, CPA – UBmatrix. Agenda. Introductions Understanding XBRL Dimensions Overview of multidimensional analysis and XBRL Dimensions Dimensions impact on IFRS-GP taxonomy Dimensions and tuples discussion

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Dimensions and Formulas for Financial Professionals

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  1. Dimensions and Formulas for Financial Professionals Charles Hoffman, CPA – UBmatrix

  2. Agenda • Introductions • Understanding XBRL Dimensions • Overview of multidimensional analysis and XBRL Dimensions • Dimensions impact on IFRS-GP taxonomy • Dimensions and tuples discussion • Understanding business rules (formulas) • What are business rules • Business rules in financial reporting • Financial reporting in the future – impact of business rules • Questions and discussion

  3. Introductions • Who am I • Who are you?

  4. Understanding XBRL Dimensions

  5. Understanding XBRL Dimensions • Brief explanation of multidimensional analysis • Overview of XBRL Dimensions • Using an Example • Intentionally keeping it simple • Adding more complexity • Using a more complex example • Common dimensional use cases • Sales analysis (covered above) • Sector breakdown • Continuing, discontinued operations • Excluding specific dimensions • Implicit (typed) dimensions • Dimensions impact on IFRS-GP taxonomy • Dimensions and tuples discussion

  6. Brief Explanation of Multidimensional Analysis • Overview of XBRL Dimensions • Using an Example • Intentionally keeping it simple

  7. Adding More Complexity • Using a more complex example

  8. Common Dimensional Use Cases • Sales analysis (covered above) • Sector breakdown • Continuing, discontinued operations • Excluding specific dimensions • Implicit (typed) dimensions

  9. Dimensions Impact on IFRS-GP Taxonomy • Segmental breakdown

  10. Dimensions and Tuples Discussion • When to use tuples, when to use dimensions

  11. Business Rules (Formulas)

  12. Understanding Business Rules (Formulas) • What are business rules? • Syntax • Semantics • Metadata • Business Rules • Business rules in financial reporting • Financial reporting in the future – impact of business rules

  13. What are Business Rules? • Syntax • Semantics • Metadata • Business rules

  14. Syntax • Syntax is similar to “the order of the words” • This is a syntax • <foo:bar john=“doe”>345</foo:bar> • “foo”, “bar”, “john”, “doe”, “345” • [foo:bar john/doe/345/foo:bar] • XML parsers enforce syntax (not semantics) • XML Schema enforces syntax (not semantics)

  15. Semantics • Semantics is basically “meaning” • Fundamentally, XBRL is a method of expressing semantics or semantic meaning • This semantic meaning is expressed using XML syntax • Examples of semantic meaning • Concept name such as “CashAndCashEquivalents” • Concept is a “debit” and is “as of” a point in time • Its label is “Cash and cash equivalents” • It “contributes” to the value of “AssetsCurrent” • It shows up on the balance sheet and cash flow statement

  16. Metadata • Metadata is data about data • Consider an invoice • Data on the invoice might include: • Invoice number of “I-10001” • Invoice date of “July 1, 2005” • Total invoice amount of “$9000” • Metadata for the invoice might include: • The invoice number must start with the letter “I”, be followed by a dash, and must be 5 digest long • The invoice MUST have an invoice number, an invoice date, at least one line item, and a total • The sum of the line item amounts MUST equal the total invoice amount.

  17. Business Rules • Business rules are a way of expressing semantic meaning • Or “a formal and implementable expression of some user requirement” • For example: • “Assets MUST equal total liabilities plus total equity” • “If property, plant and equipment exists on the balance sheet, then a PPE policy and a PPE disclosure MUST exist and they MUST contain…” • May be definitional, express calculations, process oriented, regulations, instructional

  18. Business Rules in Financial Reporting • In a taxonomy • Movement analysis • Supplement a taxonomy • Ratios • Disclosure checklist • If this, then that…

  19. Financial Reporting in the Future – Impact of Business Rules • FDIC reduction of errors • 18,000 errors  0 errors • Applications of the future • Financial creation driven by business rules • Cash flow statement creation example • Disclosure checklist example

  20. Questions and Discussion

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