Current Developments in XBRL Financial Reporting – Training and Best Practice for Public Companies & Auditors
September 10 – 12 at the Downtown Hilton in Austin, Texas
Earn Over 14 CPE in NASBA’s Accounting Field of Study
Join public company preparers and auditors for two intensive days of training and education on XBRL for SEC reporting, plus updates on implementing new accounting standards in XBRL formatted financials. Sessions will be interactive and hands-on with an emphasis on practical case studies designed to ensure you walk away with knowledge and tools that can be applied immediately back at the office.
Hear keynote speakers:
Susan Yount, Office of Interactive Disclosure, U.S. Securities and Exchange Commission on regulator use of XBRL public company data
Mike Starr, former Deputy Chief Accountant for Policy Support and Market Monitoring, Securities and Exchange Commission on the growing importance of XBRL
Gary Hoover, Founder, Hoovers, Inc. and former Entrepreneur-in-Residence at the Herb Kelleher Center for Entrepreneurship at the McCombs School of Business at the University of Texas in Austin on the evolution in corporate reporting
Learn from panel sessions and participate in intensive, hands-on training sessions:
- FASB review of new ASUs and how to implement them in XBRL
- Public company case studies on establishing controls, detailed footnote tagging, bringing XBRL in-house, managing data quality, industry collaboration and more
- XBRL implementation considerations on how to improve the process with input from FASB, the SEC, the software and audit communities
- Practical training programs on modeling and tag selection in detailed footnote tagging and on how to review key areas in your XBRL financial statements
- In-depth discussion of best practice guidance
- Validation and data quality issues
This year we are introducing the XBRL Data Forum, a program for developers and IT investment professionals on how to use XBRL SEC data which is open to public company preparers as well. This program will cover:
- Technical presentations on the XBRL database and analytical applications
- The venture capitalist view of XBRL and businesses based on XBRL
- Building a business out of XBRL – challenges and opportunities
Agenda
Monday, September 10, 2012 |
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10:00 AM – 7:00 PM Registration
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5:15 PM – 6:45 PM Pre-Conference Networking Reception
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Tuesday, September 11, 2012 |
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7:30 AM – 7:00 PM Registration
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7:30 AM – 8:30 AM Breakfast with Exhibitors
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8:30 AM – 9:00 AM Conference Opening Teresa S. Polley, President and CEO, Financial Accounting Foundation (FAF)
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9:00 AM – 9:30 AM Keynote Presentation J.W. Mike Starr, Deputy Chief Accountant for Policy Support and Market Monitoring, Securities and Exchange Commission on regulator use of XBRL public company data
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9:30 AM – 10:00 AM Keynote Presentation Gary Hoover, Entrepreneur, Co–Founder, Hoovers Inc. on the evolution in corporate reporting
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10:00 AM – 10:50 AM The XBRL Value Proposition for Data Consumers (1 CPE)
How will XBRL change the ability of analysts, auditors, investors and other stakeholders to investigate and evaluate public companies? This panel features representatives from securities analysis, the buy-side and the audit community who will help you understand how your most critical stakeholders are using your XBRL-formatted financials. Find out how XBRL changes the dialogue between public companies and their stakeholders.
John Truzzolino, Director, Business Development, RR Donnelley (moderator)
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10:50 AM – 11:05 AM Break with Exhibitors
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11:05 AM – 12:00 PM Public Company Experiences – Challenges and Benefits of the XBRL Process (1 CPE)
Financial executives at public companies share their experiences in XBRL development covering topics such as managing data quality, in-house development versus outsourcing, detailed footnote tagging, leveraging XBRL data for internal purposes and more. This moderated discussion will bring you insights into the issues, concerns and successes of experienced public company financial executives who have learned through their XBRL process.
Mike Schlanger, VP, XBRL Strategy and Business Development, Merrill Corporation (moderator)
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12:00 PM – 1:00 PM Lunch with Exhibitors
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1:00 PM – 1:20 PM XBRL Essentials: Dimensions and Detailed Footnote Tagging Overview
Learn the basics of dimensions and how they apply to detailed footnote tagging, from axes, to domains, members and line items. Learn the terminology and see how they apply to simple and complex examples of footnote tagging.
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1:20 PM – 3:00 PM XBRL Essentials: Modeling/Tag Selection, Part I (2 CPE)
Presentation, exercises and discussion, using case studies to illustrate the process of detailed footnote tagging. Attendees will work through real-life tagging case studies, then see solutions presented. Examples will include Goodwill, PP&E and Acquisitions.
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3:00 PM – 3:30 PM Break with Exhibitors
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3:30 PM – 4:50 PM XBRL Essentials: How to Review Key Areas, Part I (1.5 CPE)
This session presents a framework for the XBRL review process with a focus on considerations for the review covering completeness and structure. This session will follow the guidelines of the AICPA Principles & Criteria for XBRL. Participant involvement through discussion groups.
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4:50 PM – 5:45 PM XBRL Essentials: Filer Case Study: Industry Collaboration (1 CPE)
Public company financial executives are working together to provide guidance to the FASB on ways to improve the US GAAP Financial Reporting Taxonomy for their industry. This panel of public company accounting professionals will share their experiences and provide tips on how you can initiate your own collaborative process. Find out how working together can ultimately help streamline your own XBRL reporting process.
Timothy Randle, Director of XBRL Solutions, WebFilings (moderator)
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5:45 PM – 7:30 PM Networking Reception with Exhibitors
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Wednesday, September 12, 2012 |
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7:30 AM – 12:00 PM Registration
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7:30 AM – 8:30 AM Breakfast with Exhibitors
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7:30 AM – 8:30 AM Breakfast Session: Integrating XBRL Into Your Financial Reporting Process – Sponsored by Oracle
While most organizations have outsourced the XBRL tagging process to third parties, many are now seeking to bring the process in-house in order to reduce costs and improve the accuracy of regulatory filings. Attend this session to learn about best practices and techniques for integrating XBRL into your financial close and reporting process. Learn what other companies are doing to reduce the complexity of XBRL tagging and create a repeatable process that delivers timely, accurate regulatory filings and reduced costs.
John O’Rourke – Vice President, Product Marketing, Oracle
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8:30 AM – 9:00 AM Open Source Analytical Tools that Use XBRL – a Review of Offerings Available for Use
Philip Engel, Lead Technologist, XBRL US
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9:00 AM – 9:50 AM XBRL Implementation Considerations: the Good, the Bad and the Ugly (1 CPE)
This panel will provide insights on implementation issues, considerations and opportunities for the reporting process and control enhancements. The discussion will address some of the issues and opportunities associated with the application of XBRL for reporting. What is being done to improve the taxonomy and make it easier to manage? What are the SEC and software providers doing to improve the process for filers? What kind of guidance is being developed to help filers and how are companies working to improve their own process?
Mike Willis, Partner, PwC (moderator)
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9:50 AM – 10:45 AM FASB Update: New ASUs and XBRL Application (1 CPE)
Join FASB experts as they discuss recently deployed ASUs including offsetting balance sheet, multi-employer plans, fair value measures and OCI. Learn best practice on modeling these ASUs in your own XBRL financials. Find out about new accounting standards under discussion that could be implemented in 2012 or 2013.
Jennifer Neglia, Director, PwC (moderator)
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10:45 AM – 11:00 AM Break with Exhibitors
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11:00 AM – 12:30 PM XBRL Essentials: How to Review Key Areas, Part II (2 CPE)
This panel will present a framework for the XBRL review process with a focus on considerations for the review covering accuracy/consistency, mapping and other controls. This session will follow the guidelines of the AICPA Principles & Criteria for XBRL. Participant involvement through discussion groups.
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12:30 PM – 1:30 PM Lunch with Exhibitors
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1:30 PM – 3:00 PM XBRL Essentials: Modeling/Tag Selection, Part II (2 CPE)
Presentation, exercises and discussion, using case studies to illustrate the process of detailed footnote tagging. Attendees will work through real-life tagging case studies, then see solutions presented. Examples covered will be pensions and segment footnotes.
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3:00 PM – 3:20 PM Break with Exhibitors
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3:20 PM – 4:10 PM XBRL Essentials: Checking your work: SEC validation, XBRL Validation, Consistency Suite (1 CPE)
Understanding XBRL validation methods – SEC validation, XBRL validation, XBRL Cloud, XBRL Consistency Checks. What do they mean? How do they work? What’s important for your own XBRL controls process.
Raul Varela, Vice President of Strategic Initiatives, Rivet Software (moderator)
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4:10 PM – 5:00 PM XBRL Essentials: Best Practice Guidance (1 CPE)
Best practice guidelines have been set in areas covering company extensions such as selection of elements, members and axes; instance document creation including the proper handling of dates, data types, units, decimals and fractions; and managing restatements in XBRL. The XBRL US Best Practice Committee has developed these guidelines over years of review, analysis of XBRL instances and discussion. Join several members of that committee as they discuss some of the more common topics and how you can incorporate these resolutions into your own XBRL.
Lisa Cousino, Manager of XBRL Professional Standards and Best Practices, Thomson Reuters (moderator)
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Delivery Method:
Group-Live
Over 12 CPE will be available for this event (Group-Live instructional delivery in NASBA Field of Study: Accounting). While there are no formal prerequisites or advance preparation necessary for CPE, attendees should be familiar with the SEC’s XBRL filing requirements and FASB’s accounting standards.
Podcasts
Lessons Learned from the XBRL Rollout – Lisa Cousino of Thomson Reuters Accelus discusses her perspective on the learning process in the XBRL rollout to date, and the importance of practice, practice, practice with respect to creating quality XBRL data. Click to listen or right-click to save as .mp3 for your player – Friday, September 07, 2012
Perspectives on the Cloud-Based Future of XBRL – TRS, Chairman and CEO of DataTracks, discusses the importance of emerging cloud-based services as a component to improving financial statement controls. Click to listen or right-click to save as .mp3 for your player – Friday, September 07, 2012
The Service Provider’s View of the XBRL Rollout – Brenda Bowman of Thomson Reuters Accelus discusses the importance of a well-defined process, proper training and the support of experts when working with XBRL filings. Click to listen or right-click to save as .mp3 for your player – Thursday, September 06, 2012
The Auditor’s View of the XBRL Rollout – Ted Uehlinger of PwC discusses important trends he’s seeing with clients and stresses that standardization that should make the XBRL process easier. Click to listen or right-click to save as .mp3 for your player – Wednesday, September 05, 2012
The Software Provider’s View of the XBRL Rollout – Dan O’Brien of IBM recaps important XBRL developments in 2012, and discusses what the next phase of XBRL development holds in financial reporting, software development, and academia. Click to listen or right-click to save as .mp3 for your player – Tuesday, September 04, 2012
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