Post on 02-Jan-2016
Filing annual accounts in Germany how XBRL supports the
reduction of costs for legal publicationsSascha Heinig, 06/26/2009
Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts
◦ The Datev Interface project◦ Additional XBRL activities
Conclusion Next steps
206/26/2009S. Heinig
1949 Founded through the Federal Republic of Germany
1950 Introduction of the law for „legal publication”
The newspaper „Bundesanzeiger“ getsofficial gazette for legalannouncements 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“
06/26/2009 3S. Heinig
Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts
◦ The Datev Interface project◦ Additional XBRL activities
Conclusion Next steps
506/26/2009S. Heinig
606/26/2009S. Heinig
Amount of Publications
0,00
200.000,00
400.000,00
600.000,00
800.000,00
1.000.000,00
1.200.000,00
2003 2004 2005 2006 2007 2008
Paper
Online
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)
Development of the Federal Gazette
published:by Ministry of Justice
content: legal publication esp.◦ annual accounts ◦ financial reports ◦ public
notifications◦ …
706/26/2009S. Heinig
806/26/2009S. Heinig
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
average input of annual accounts 2007 / 2008 / 2009
0
50.000
100.000
150.000
200.000
250.000
300.000
350.000
400.000
450.000
Jan
07
Mrz
07
Mai
07
Jul 0
7
Sep 0
7
Nov 0
7
Jan
08
Mrz
08
Mai
08
Jul 0
8
Sep 0
8
Nov 0
8
Jan
09
Mrz
09
Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts
◦ The Datev Interface project◦ Additional XBRL activities
Conclusion Next steps
906/26/2009S. Heinig
1006/26/2009S. Heinig
Filing
- Online
• publications platform
• other electronic interfaces
- Offline
• general posting One electronic filing platform for
legal gazette and business register
1106/26/2009S. Heinig
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
0%
20%
40%
60%
80%
100%
Jan. 07
Mrz. 07
Mai. 07
Jul. 07
Sep. 07
Nov. 07
Jan. 08
Mrz. 08
Mai. 08
Jul. 08
Sep. 08
Nov. 08
Jan. 09
Mrz. 09
formats for filing
XBRL XML Other
Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts
◦ The Datev Interface Project◦ Additional XBRL activities
Conclusion Next Steps
1206/26/2009S. Heinig
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)
06/26/2009S. Heinig 13
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
06/26/2009S. Heinig 14
Bundesanzeiger PH Electronic Federal Gazette Filing annual accounts
◦ The Datev Interface project◦ Additional XBRL activities
Conclusion Next steps
2106/26/2009S. Heinig
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
06/26/2009S. Heinig 22
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
06/26/2009S. Heinig 23
02468
10
12
14
16
18
20
XML XBRLOffice
PaperPDF
avg. throughput time in days
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
06/26/2009S. Heinig 24