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XBRL Sweden

Today SRF has around 4.000 members active all over Sweden, engaged by more than 200.000 Swedish and overseas companies. SRF strives towards continual ...

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XBRL Sweden

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    Slide 1:

    XBRL Sweden Presentation… Lars Berglöf            Kalin Konsulteri AB, Mattias Asplund AB Members in XBRL Sweden

    Slide 4:XBRL Sweden

    Boardmembers Åke Danielsson Chairman, FARSRS John Eriksson vice chair, SRF Anders Hult Deloitte Annica Lundblad Ö PwC Björn Rydberg E & Y Ulf Carlsson LGT

    XBRL Sweden SRF Presentation…. Lars Berglöf The association of Swedish Accounting consultants was formed in 1936, and is the country’s leading organization in the field of Financial and Accounting Consultancy. Today SRF has around 4.000 members active all over Sweden, engaged by more than 200.000 Swedish and overseas companies. SRF strives towards continual growth and development within the field, carefully monitoring the latest trends in the area of Finance and Accounting, as well as playing an active roll in government legislation through close co-operation with government authorities and organisations which has motivated SRF to be one of the founders of XBRL Sweden SRF

    Slide 6:The association of Swedish Accounting consultants was formed in 1936, and is the country’s leading organization in the field of Financial and Accounting Consultancy. Today SRF has around 4.000 members active all over Sweden, engaged by more than 200.000 Swedish and overseas companies. SRF strives towards continual growth and development within the field, carefully monitoring the latest trends in the area of Finance and Accounting, as well as playing an active roll in government legislation through close co-operation with government authorities and organisations which has motivated SRF to be one of the founders of XBRL Sweden The association of Swedish Accounting consultants was formed in 1936, and is the country’s leading organization in the field of Financial and Accounting Consultancy.

    XBRL Sweden SRF eReport Presentation… Lars Berglöf

    Slide 8:The Development of an transparent national Financial Information Infrastructure > 30 years

    Look After Your Firm (SME business analys) BAS-Chart of accounts + Annual accounts SCB-National Financial Key Ratios SRU tax information SIE-format (flat text file) New BFL (BAS 76) New ÅRL (EU-BAS) 1970 1980 1990 2000 ST-format (Statistics) IFRS-reg XBRL-std New ABL 2006

    Thirty years with BAS Chart of Accounts in Sweden supported by the SIE-standard format ….. In the 40-ties - the M-Chart of Accounts 1976 - the BAS-Chart of Accounts with Instructions 1980 - the BAS-Chart of Accounts was declared an approved standard for Sweden by the Swedish Standards Association At present, the BAS-system is used by more than 90% of Swedish entities. Standardization the Swedish way… Thirty years with BAS chart of accounts in Sweden supported by the SIE-format standard….. 1992 - SIE – Standard Import Export-format At present used by more than 90% of Swedish Software Vendors Standardization the Swedish way! Implemented in >90 % of Swedish accounting software SIE-standard - a plattform for XBRL! No one understood in the beginning the immense benefits from the SIE-format Now in use in >90 % of Swedish SMEs no one can imagine not to have it implemented! SIE-standard - a plattform for XBRL! Fifteen years with Interactive Data in Sweden – now completed with XBRL Updating national standardization!

    Slide 14:The Swedish market for XBRL

    Bank & Finance DB, OMX, Nordea, SEB, SHB, SwB Biznode, UC….. Industry org ALMI, FR, Nutek, SvN… Accounting/ auditing FARSRS,SRF…. Software Ind Sw Big Co vendors (~ 20) SME vendors (>200) The public sector BVE, ESV, Fi, Kfb, RB, SKV, SCB…. Standards: BAS Chart of accounts ÅRL Annual accounts SIE File format standards ~1.000 enteties>250 emp 300.000 ltd ~900.000 Acs/Aud, SME-consultants BDO, D&T, E&Y, KPMG, LGT, LRF, LRR, PWC…

    Slide 15:Targets in the Swedish market

    300.000 Annual Accounts 26.000 Group Parents 72.000 Subsidiaries Basel II Bolagskoden (SOX) etc

    Slide 16:The Swedish taxonomy development work

    In 2004-2005 different experts worked together to find out about the necessary content for a Taxonomy for Swedish SMEs (approx 300.000 entities) The content was transformed into XBRL code by member experts Quality assurance 2005-2006 of the Swedish AR-taxonomy containing appr 1000 concepts. Bolagsverket entered the quality assurance faze and added their interests and comments A Taxonomy for Auditors report is also available July 1st 2006 - a Swedish AR taxonomy was up running (AR stands for Annual Report for non listed companies under the Swedish GAAP

    Slide 17:

    Electronic Financial Reporting in Sweden Navision B A S and S I E – s t a n d a r d s ”SIE” Automatic Transformation SIE >>>XBRL. ”XBRL” Compile Annual Accounts ”Instance doc” Interactive data Interactive data Annual Reports Swedish Stakeholders: Signatures                                   Swe d i s h Ac c o u n t i n g S W From General Ledger to Bankers Crédit Decisions

    XBRL demo XBRL demo APPLICATION1 >>sie>auto>xbrl>>APPLICATION2>>Electr Signatures>>Users XBRL demo APPLICATION1 >>sie>auto>xbrl>>APPLICATION2>>Electr Signatures>>Users

    Enterprise Review of Accountant Preparation Regulatory Body Chairman Board Member 1 Board Member 2 Board Member 3 Data Multipart Signing of XBRL + PDF file Annual Meeting Public Accountant Public Accountant Public Servant Bolagsverket, SCB, SKV… Signing Parties Auditors statement Optional Multipart signing Statement from Annual Meeting, final Sign-off Organisation Information Feedback to initiator Processing Annual Accounts

    Slide 23:Efficient Annual Electronic Accounts!

    The unique Swedish financial reporting infrastructure has taken a vital step forward when Bolagsverket - the Swedish Companies Registration Office - opened up for complete annual accounts in XBRL-format to be transmitted electronically. The first Swedish Taxonomy contains 1000 elements and is “linked” directly with the standard BAS-Chart of Accounts. Bolagsverket collects approx. 300.000 annual reports each year which today are scanned and stored as pictures in .gif format. The 1 of July 2006 a new era began when Bolagsverket collected the first complete annual accounts incl. auditor’s report in XBRL-format. This means financial data stored in XML-format and no more scanning. Interactive Data are made available instantly!

    Simplify accounting Speed up the process Increase security SRF view on XBRL!

    Slide 25:Financial Information the modern way!

    Board less Interactive data to save the Forests and Human Work Hours

    Slide 26:

    Any questions? Information!

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