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The XDIS/XBRL pilot project Giuseppe Sindoni Eurostat

I Technical Meeting of European XBRL implemented projects 5-6 October 2006. The XDIS/XBRL pilot project Giuseppe Sindoni Eurostat. Background. 2004: Feasibility analysis to a project for extraction of statistical data from XBRL reports

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The XDIS/XBRL pilot project Giuseppe Sindoni Eurostat

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  1. I Technical Meeting of European XBRL implemented projects 5-6 October 2006 The XDIS/XBRL pilot project Giuseppe Sindoni Eurostat

  2. Background • 2004: Feasibility analysis to a project for extraction of statistical data from XBRL reports • A pilot project feasible for extraction of raw economic data by NSIs • 2005: X-DIS, XML for Data Interoperability in Statistics • Funded by IDABC • Aimed at implementing XML standards in the ESS

  3. Objectives of the pilot project • Test: • Efficient use of XBRL in the statistical reporting chain • Chances of widespread acceptance by enterprises and institutions • Focus on • Reporting by enterprises to NSIs • Not on • Reporting by NSIs to Eurostat

  4. Tasks • Inventory of relevant existing taxonomies and mapping to statistical legislation • Monitoring XBRL developments • Creation of an extensible statistical taxonomy • Test the taxonomy in a live environment with suitable enterprise samples • Define if and how make it operational in enterprises • Feasibility analysis of the “pull” approach

  5. Reference groups • The Accounting and Statistics Task Force • To co‑ordinate work and identify possible needs for action w.r.t. IAS and Statistics • XBRL pilot reports to A&S TF • The XBRL pilot Task Force • To provide test environments and feedback • Composed of active members and observers • BE, ES and NL to be active members

  6. Task 3 • Creation of an extensible statistical taxonomy • First experiment: Taxonomy for SBS at INE • Effective collaboration • Many concepts to be defined from scratch • Draft IFRS based European Statistical Taxonomy • IFRS to be the future FR standard (?) • Taxonomy to be used by countries and extended with local concepts • Covers: Services/Trades, Industry and Construction

  7. Planning task 4 • Test the taxonomy in a live environment with suitable enterprise samples • To be performed with active members • Initial test plan prepared to test between June and September 2006 • Misalignment with local project schedules suggested to reschedule between October 2006 and February 2007

  8. Running task 4 • INE • Taxonomies to be tested against instances coming from three volunteer enterprises • Statistics Belgium • Development of XBRL based prototype data collection system to test with volunteer companies • CBS • Taxonomy to be tested against instances coming from accounting firm

  9. Task 1. Mapping Procedure (2) NSI Statistical frameworks (1) ENTERPRISES • SBS • STS • PRODCOM • LFS • … MAP VALUES TO ACCOUNTING CONCEPS FIND DATA MODEL SCOPE DEFINITION MODELIZATION MAKE INVENTORIES OF SBS CHARACTER-ISTICS PARAMETRIZATION DETERMINE VALUES TO COLLECT TO MAKE SBS CHARACTERISTICS • common • industry • services • trade • credit entities • insurance • pension funds REGULATIONS FIND OUT RELATED TAXONOMIES / ACCOUNTING PRINCIPLES • IFRS (sets of characteristics)

  10. Task 3. Taxonomy X-DIS/XBRL IFRS scenario • For IFRS scenarios (as a proof of concept and base for a future XBRL Statistical Taxonomy) IFRS-GP 2005 Char. Label xdis-eu-sbs-ci-characteristics-2006-09-01.xsd Char. Ref. Var. Label xdis-eu-sbs-ci-variables-2006-09-01.xsd Var. Pres.

  11. How to work with Statistical European Taxonomy? IFRS scenario for Member States • For National Statistical Taxonomies based on EuropeanStatistical Taxonomy will be necessary to extend, in XBRL sense, the taxonomy offered by Eurostat, including the new elements and linkbases. IFRS-GP 2005 Char. Label xdis-eu-sbs-ci-characteristics-2006-09-01.xsd Char. Ref. Var. Label xdis-eu-sbs-ci-variables-2006-09-01.xsd National GCD Var. Pres. Var. Pres. xdis-MS-sbs-ci-variables-2006-09-01.xsd Var. Calcul Var. Label

  12. Future activities • October 2006 – February 2007 • Prepare and perform tests • March 2007 • Acceptance analysis • April – November 2007 • Extension to other domains and countries (maybe IE, LU and SE)

  13. Lessons learned so far • Many different types of heterogeneities between countries and domains • Differences in local GAAPs • Different political approaches • Different rationales for XBRL introduction • Statistical taxonomy design could be driven also by technical/organisational considerations • XBRL acceptance by enterprises lower than expected

  14. Issues • Is it realistic to aim for extraction of statistical data from existing XBRL accounting and financial reports in the medium term (2008)? • Depends on countries • Is it a good choice to base European statistical taxonomies on IFRS? -> • No alternative • Are we really reducing the burden on enterprises? • Depends on countries

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