XBRL-based structured digital financial reporting - Blog: Digital Financial Reporting (using XBRL)

The Proof+Common+Rendering example representation is a new addition to my set of examples which can be used to master XBRL-based financial reporting. What this example does is show you the essence of an XBRL-based digital financial report and then reconcile that essence to a 10-K.

Key information for this example representation includes:

Files: Every file is available for your further analysis.
Documentation: This walks you through the example and helps you see what I am trying to get across.
Database: You can download the Microsoft Access database that I used to create the example. The only thing not included is the code that generates the disclosure mechanics and reporting checklist rules.
Pixel Perfect Rendering (Inline XBRL): This is an Inline XBRL instance document that was generated from the database above. This version references a web-based taxonomy that supports the XBRL instance.
Pixel Perfect Rendering (PDF): This is a PDF generated from the information in the XBRL instance using XSL-FO and a FOP to generate the PDF.

There is a wealth of knowledge in this information. This builds on the accounting process automation or record to report example. In essence, if you read through all the examples you can see that you can put transactions into a general journal and if that is done correctly you can generate a pixel perfect XBRL-based financial report and/or a human-readable PDF, HTML, Word, or other such representation.

Essentially, this points out that there is a completely new workflow possibility that can be employed for creating financial reports. Whether one of the outputs is XBRL or not makes no difference. In fact, this is bigger than just reporting; it impacts accounting, reporting, auditing, and analysis.

We live in a world where the questions remain the same; but the answers have changed. This TED Talk video, Why the majority is always wrong, explains. While 97% continue to do more or less of the same things over, and over, and over; 3% try new things.

Consider thinking outside the box. Why settle for normal when you can be exceptional! The digital transformation is about talent, not technology. Learn to leverage your tools effectively.