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XBRL Reporter allows users to create financial statements in XBRL and iXBRL format using MS Word. It is a plug-in for MS Word and enables tagging individual line items of the financial report with tags defined in ESEF taxonomy. The tool provides full compliance with ESEF.
Be prepared for new ESEF requirements implemented by the legislator
From 1 January 2020 companies which are listed on the EU capital markets and prepare their consolidated financial statements in compliance with IAS will be obligated to report in xHTML format and apply XBRL formattagging.
This new formal requirement related to the preparation and disclosure of financial information is intended to allow easier analysis and comparability of reported data. However, it puts in front of the people responsible for preparing the financial statements, the task of adapting reporting processes, staff training and implementation of all necessary technological solutions.
XBRL Reporter’s main functionalities are
Tagging of the financial report items with ESEF taxonomy tags, supported by step-by-step instructions and advanced tag search.
Easy and intuitive creation of extensions in taxonomy.
'Blueprint' report which summarises the marked items of the report and tags assigned to them, which significantly simplifies the verification.
Tagging validation to ESMA requirements in a transparent report, with the description of comments and warnings.
Generation and validation of the report in iXBRL and XBRL format.
Embedded link between Word and Excel files allowing for data refresh between them without losing the tagging done in Word, helpful with last minute value changes.
Application is available in Polish and English and can have additional interface language added. It supports ESEF taxonomy in all UE languages for easier search in local language.
Intuitive and quick tagging process supported by robust tag search engine. No special training required to start working with the app.
Data quality and easy control over tags using tagging report allowing for error-free reporting process.
100% visual coherence of iXBRL and Word documents.
Immediate and hassle free installation process requiring no IT support or additional resources.
We support you at every stage of XBRL implementation
As a part of implementation XBRL experts provide a solid understanding of the new requirements and answers to the key challenges that the new XBRL format introduces, allowing for proper reporting in compliance with ESEF.
Design and implementation of processes
We may additionally support XBRL Reporter implementation with services related to design and setup of appropriate internal controls to ensure that deadlines for the preparation of the annual report in a new electronic format are met.
Mapping of consolidated financial statements
As an addition to the tool implementation we may provide mapping services – matching financial statement items to ESEF taxonomy.
Full outsourcing of tagging by PwC
PwC also uses the XBRL Reporter tool to provide outsourcing services to client. PwC tags the financial statements with XBRL tags for the client and prepares a final ESEF compliant product.
- Initial license fee (per user – overall price depends on numer of licenses purchased)
- User training
- Renewal license fee calculated as 25% of initial license fee
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