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19 th XBRL International Conference “Reducing regulatory burden with XBRL: a catalyst for better reporting” June 22-25, 2009 Paris, France. Filing annual accounts in Germany how XBRL supports the reduction of costs for legal publications Sascha Heinig, 06/26/2009. Content.

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  1. 19th XBRL International Conference“Reducing regulatory burden with XBRL: a catalyst for better reporting”June 22-25, 2009Paris, France Filing annual accounts in Germany how XBRL supports the reduction of costs for legal publications Sascha Heinig, 06/26/2009

  2. Content • Bundesanzeiger PH • Electronic Federal Gazette • Filing annual accounts • The Datev Interface project • Additional XBRL activities • Conclusion • Next steps S. Heinig

  3. Historyofthe Publishing House • 1949 Founded through the Federal Republic of Germany • 1950 Introduction of the law for „legal publication” The newspaper „Bundesanzeiger“ gets official gazette for legal announcements and publications in Germany • 2003 Stepwise transformation to electronic publication and filing • 2007 Release of the law “EHUG” End of double publication of register data Foundation of the business register „Unternehmensregister“ S. Heinig

  4. Content • Bundesanzeiger PH • Electronic Federal Gazette • Filing annual accounts • The Datev Interface project • Additional XBRL activities • Conclusion • Next steps S. Heinig

  5. ElectronicFederal Gazette Development of the Federal Gazette • First significant change in Media in 2003 • The newspaper started loosing its importance • End of double publication since 2007 • lost of all publications of companies register data to companies registers, but • exclusive right for publication of annual accounts Publication instead of depositation for small and midsized companies caused an additional amount of publication (change in fining) S. Heinig

  6. ElectronicFederal Gazette • published:by Ministry of Justice • content: legal publication esp. • annual accounts • financial reports • public notifications • … S. Heinig

  7. average input of annual accounts 2007 / 2008 / 2009 450.000 400.000 350.000 300.000 250.000 200.000 150.000 100.000 50.000 0 Jul 07 Jul 08 Jan 07 Jan 08 Jan 09 Nov 07 Nov 08 Mrz 07 Mai 07 Sep 07 Mrz 08 Mai 08 Sep 08 Mrz 09 Electronic Federal Gazette main tasks: • check of Completeness and filing whithin prescribed time (4 Month - 1 Year) • transformation of heterogeneous data into a standardized internet format • publicationebundesanzeiger.de • transmission to business register  peak season December – March  business is driven by the production of annual accounts S. Heinig

  8. Content • Bundesanzeiger PH • Electronic Federal Gazette • Filing annual accounts • The Datev Interface project • Additional XBRL activities • Conclusion • Next steps S. Heinig

  9. Filingannualaccounts • Filing • Online • publications platform • other electronic interfaces • Offline • general posting • One electronic filing platform for legal gazette and business register S. Heinig

  10. formats for filing 100% 80% 60% 40% 20% 0% Jan. Mrz. Mai. Jul. Sep. Nov. Jan. Mrz. Mai. Jul. Sep. Nov. Jan. Mrz. 07 07 07 07 07 07 08 08 08 08 08 08 09 09 XBRL XML Other Filingannualaccounts currently accepted filing formats • legal gazette • XML / XBRL • MS-Office • PDF • paper (till 2009) • business register • XML • PDF (as a service) Filing mainly in XML / XBRL • price • usability S. Heinig

  11. Content • Bundesanzeiger PH • Electronic Federal Gazette • Filing annual accounts • The Datev Interface Project • Additional XBRL activities • Conclusion • Next Steps S. Heinig

  12. The Datevinterface Project • Main goal 2007 by Ministry of Justice: • provide an easy and cheap way to file annual accounts • high coverage • Subgoal: • reduction of filing costs to 50 Euro • reduction of administrativ complexity for SME´s (multiple use of accounting data) S. Heinig

  13. The Datevinterface Project • Project development of a filing-interface based on re-usable accounting data (XBRL) with DATEV* • Milestones • kickoff in spring 2007 • first productive version in autumn 2007 • Actual status • used by nearly all customers of DATEV • more than 800,000 accounts processed so long • more than 30,000 accounts processed per day during the peak season * The DATEV is the german market leader for accounting software and combined services . Their product is used by 2/3 of all companies in Germany (esp. SME´s) • d S. Heinig

  14. The Datevinterface Project Step 1 - 3: companyidentification S. Heinig

  15. The Datevinterface Project Step3 - 5: masterdata S. Heinig

  16. The Datevinterface Project Step 6: notes S. Heinig

  17. The Datevinterface Project Step 7: mapping (control) S. Heinig

  18. The Datevinterface Project Step 8: preview S. Heinig

  19. The Datevinterface Project Step 9: transfer S. Heinig

  20. Content • Bundesanzeiger PH • Electronic Federal Gazette • Filing annual accounts • The Datev Interface project • Additional XBRL activities • Conclusion • Next steps S. Heinig

  21. Additional XBRL activities • MS-Office based XBRL Tool (German AP, IFRS) • XBRL Upload via publications platform • German AP (individual taxonomy and bank extensions) • IFRS (individual taxonomy extensions) • US-GAAP S. Heinig

  22. Conclusion XBRL is a success story • internal reduction of costs through: • reduction of troughput times • reduced approval (technical, content) • accelerated production • external reduction of costs through • reduction of prices for filling (actual Euro 35 for SME´s) • reduced work on filing preparations through multiple use of accounting data S. Heinig

  23. Next Steps • Expanding the XBRL activities • add filing interfaces to more accounting software • rethink the layoutoriented xml strategy • external software • web forms • Upload strategy • focus on web-based interfaces for filing in XBRL S. Heinig

  24. Thankyouforyourattentionandinterest S. Heinig

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