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Discussion of “SportsStuff.com—Reporting Financial Performance in XBRL with Assurance”. Uday S. Murthy University of South Florida. University of Waterloo-CICA Information Systems Assurance Symposium Toronto, Canada October 22, 2005. Introduction & Case Overview.
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Discussion of “SportsStuff.com—Reporting Financial Performance in XBRL with Assurance” Uday S. Murthy University of South Florida University of Waterloo-CICA Information Systems Assurance Symposium Toronto, Canada October 22, 2005
Introduction & Case Overview • XML and XBRL are key technologies that accounting students need to comprehend • Limited set of rich case-based instructional resources available for XML/XBRL • Debreceny and White SSC case is a much-needed addition • Case is well-written • Valuable hands-on assignments included • Complements Geerts and White (2004), which covered XML
Motivation & Setup • XBRL and information supply chains • “Pre-XBRL” mechanisms for exchanging information? • What problem is XBRL trying to fix? • LOAN reporting requirement • innovative way of “selling” the need for SSC to deploy XBRL • What about non-mandated reasons for using XBRL • B2B information exchange • Reengineering B2B processes • The X in XML • How can XBRL be “extended” to incorporate reporting requirements unique to SSC?
SSC Particulars • Courses in which case can be used • Positioning within AIS course • Sequencing relative to the Auditing course • Case objectives vs. learning objectives
SSC Particulars…contd. • Background reading • Auditing • XBRL attestation • CICA White Paper • PCAOB Staff Q&A • Key XBRL attestation issues • Tagging from internal acct system to XBRL • Using appropriate taxonomy • Point in time vs. real-time reporting
SSC Particulars…contd. • XBRL taxonomy used • us-pte vs. us-gaap-ci • Presentation & calculation linkbases • Potential use of calculation linkbases for ensuring internal consistency (validity) of an XBRL document
A model of XBRL attestation issues Official XBRL Taxonomy repository • Correct taxonomy used? Internal accounting System (XML-based) XBRL reports • Mapping accurate? • - Point in time • - Real time • Document well-formed & valid? • Document internally consistent?
Teaching Notes • Learning objectives for each individual assignment • Share authors experiences in using the cases • Tips and tricks • Student missteps • Assessment guidance • Tables showing key terms
Instructional Benefits • Assn 1: construct well-formed XBRL document -- reinforces XML concepts • Assn 2: issues in providing XBRL attestation – fuzzy, deliverables unclear • Assn 3: independent accountant’s report – copy and paste exercise? • Assn 4: combines 1 and 3 – rubber meets the road
Extensions • Case 1: Geerts & White • XML
Extensions • Case 1: Geerts & White • XML • Case 2: Debreceny & White • XBRL
Extensions • Case 1: Geerts & White • XML • Case 1.5: Geerts & Debreceny? • XML-based accounting system • Case 2: Debreceny & White • XBRL
Extensions & Conclusion • Assignment involving calculation linkbases • “calcRef” attribute? • Debreceny & White case a welcome addition for instructors seeking to incorporate XBRL into their courses