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XBRL Adoption in Singapore: One Year On
Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What is XBRL? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What is XBRL?  Human Readable  v  XBRL <acra:ByLiquidityOrCurrentNon-CurrentClassification contextRef=&quot;Company_Current_AsOf&quot;>By Current/Non-Current Classification</acra:ByLiquidityOrCurrentNon-CurrentClassification> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Company_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>731000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Company_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>221000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Consolidated_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>12046000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Consolidated_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>22733000</acra:PropertyPlantEquipmentTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Company_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>0</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Company_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>0</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Consolidated_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>19820000</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Consolidated_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>938000</acra:IntangibleAssetsTotal>
What is XBRL?  Global Developments ,[object Object]
Why XBRL for ACRA? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
General Overview- Financial Reporting Process  Financial Statements (FS) Complies with the  Accounting Standards and gives a true & fair view Directors Auditor Audits the financial statements Directors- Responsible for the preparation and filing of the financial statements FS Prepared and Filed Using FS Manager Shareholders Other Consumers  & Users of  FS Promotes access to financial information Information flow
XBRL-Enabled Financial Information Marketplace Accounting Systems c Collection of XBRL Financial Information Public User ACRA Prepare FS XBRL Engine Storage Submit Data Interface Module File Upload FS FS Manager Bizhub Feedback  and data feed Government users Marketplace administrator Business community  users Feedback  and data exchange Distribution of XBRL Financial Information
Why XBRL for ACRA? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
ACRA Taxonomy ,[object Object],[object Object],[object Object],[object Object],Mandatory Data Type Period Type Line item Documentation Income Statement  By function Reference FRS 1 Yes Monetary Duration + Revenue User-described Items + Cost of Sales Yes Monetary Duration = Gross Profit `Gross Profit’= `Revenue’ + `Costs of  Sales’ (String) Other items of Income
How it is translated into  an Online  Spreadsheet  ,[object Object]
ACRA Taxonomy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
FS Manager Online tool
Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009
Using FS Manager to Prepare  FS ,[object Object],14 © Copyright Ecquaria Technologies Pte Ltd. All Rights Reserved. ACRA FS Manager Importing from accounting systems XBRL Data Entry XBRL Save as XBRL PDF Save as PDF
Filing Requirement in XBRL ,[object Object],[object Object],[object Object],[object Object],[object Object]
Filing Requirement in XBRL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Filing Requirement in XBRL
Filing Statistics (1 st  Year of XBRL) * Partial XBRL pertains to a minimum of the balance sheet, income statement and mandatory information. Public Company (Listed) Public Company (Unlisted) Private Company Exempt Private Company Total Period from 1 Nov 2007 to 31 Oct 2008 (1 Year) Full XBRL 65 99 6,114 3,653 9,931 Partial XBRL* 445 483 19,003 9,260 29,191 % Full XBRL 13% 17% 24% 28% 25% Period from 1 Nov 2008 to 28 Feb 2009 (4 Months) Full XBRL 22 25 1,726 1,282 3,055 Partial XBRL* 78 79 4,767 3,326 8,250 % Full XBRL 22% 24% 27% 28% 27%
[object Object],[object Object],[object Object],[object Object],[object Object],Current Initiatives with XBRL
Current Initiatives with XBRL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Learning Points on Implementing XBRL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Our Vision - Harmonised Corporate Financial Reporting to the Government Other  Government agencies Regulatory Forms (Based on a Harmonised Singapore Taxonomy) One-stop Filing Portal Public users of business information Businesses Companies (with assistance from their service providers) prepare and file their regulatory forms in a harmonised taxonomy in an open standard data format at only one location. Government agencies and the public refer to the one-stop filing portal for their regulatory information needs in one harmonised and open standard data format
Thank You Further details available at: http://www.acra.gov.sg/Services/Company/Filing_of_Financial_Statement_in_XBRL.htm

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Accounting and Corporate Regulatory Authority (ACRA) Presentation CRF 2009

  • 1. XBRL Adoption in Singapore: One Year On
  • 2.
  • 3.
  • 4. What is XBRL? Human Readable v XBRL <acra:ByLiquidityOrCurrentNon-CurrentClassification contextRef=&quot;Company_Current_AsOf&quot;>By Current/Non-Current Classification</acra:ByLiquidityOrCurrentNon-CurrentClassification> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Company_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>731000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Company_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>221000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Consolidated_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>12046000</acra:PropertyPlantEquipmentTotal> <acra:PropertyPlantEquipmentTotal contextRef=&quot;Consolidated_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>22733000</acra:PropertyPlantEquipmentTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Company_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>0</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Company_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>0</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Consolidated_Current_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>19820000</acra:IntangibleAssetsTotal> <acra:IntangibleAssetsTotal contextRef=&quot;Consolidated_Prior_AsOf&quot; decimals=&quot;-3&quot; unitRef=&quot;monetary_unit&quot;>938000</acra:IntangibleAssetsTotal>
  • 5.
  • 6.
  • 7. General Overview- Financial Reporting Process Financial Statements (FS) Complies with the Accounting Standards and gives a true & fair view Directors Auditor Audits the financial statements Directors- Responsible for the preparation and filing of the financial statements FS Prepared and Filed Using FS Manager Shareholders Other Consumers & Users of FS Promotes access to financial information Information flow
  • 8. XBRL-Enabled Financial Information Marketplace Accounting Systems c Collection of XBRL Financial Information Public User ACRA Prepare FS XBRL Engine Storage Submit Data Interface Module File Upload FS FS Manager Bizhub Feedback and data feed Government users Marketplace administrator Business community users Feedback and data exchange Distribution of XBRL Financial Information
  • 9.
  • 10.
  • 11.
  • 12.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19. Filing Statistics (1 st Year of XBRL) * Partial XBRL pertains to a minimum of the balance sheet, income statement and mandatory information. Public Company (Listed) Public Company (Unlisted) Private Company Exempt Private Company Total Period from 1 Nov 2007 to 31 Oct 2008 (1 Year) Full XBRL 65 99 6,114 3,653 9,931 Partial XBRL* 445 483 19,003 9,260 29,191 % Full XBRL 13% 17% 24% 28% 25% Period from 1 Nov 2008 to 28 Feb 2009 (4 Months) Full XBRL 22 25 1,726 1,282 3,055 Partial XBRL* 78 79 4,767 3,326 8,250 % Full XBRL 22% 24% 27% 28% 27%
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  • 23. Our Vision - Harmonised Corporate Financial Reporting to the Government Other Government agencies Regulatory Forms (Based on a Harmonised Singapore Taxonomy) One-stop Filing Portal Public users of business information Businesses Companies (with assistance from their service providers) prepare and file their regulatory forms in a harmonised taxonomy in an open standard data format at only one location. Government agencies and the public refer to the one-stop filing portal for their regulatory information needs in one harmonised and open standard data format
  • 24. Thank You Further details available at: http://www.acra.gov.sg/Services/Company/Filing_of_Financial_Statement_in_XBRL.htm