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

Step 1 - 3: company identification Step 1 - 3: company identification

06/26/2009S. Heinig 15

StepStep 3 - 5: master data 3 - 5: master data

06/26/2009S. Heinig 16

Step 6: notes Step 6: notes

06/26/2009S. Heinig 17

Step 7: mapping (control)Step 7: mapping (control)

06/26/2009S. Heinig 18

Step 8: preview Step 8: preview

06/26/2009S. Heinig 19

Step 9: transferStep 9: transfer

06/26/2009S. Heinig 20

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

06/26/2009S. Heinig 25