XBRL stands for ...

... „eXtensible Business Reporting Language“. This is a freely available electronic language used for internal and external „Financial Reporting“, and so exchange of information.

This language changes our regulatory registration and accounting world: the European COREP- and FINREP-, and also Solvency II-Reporting challenges the financial sector and insurance companies to transmit a great amount of reports in XBRL format to the national controlling authorities.

We „master“ XBRL and offer an intelligent, user-friendly and efficient solution with the SmartNotes EUROFILER Module. As a result you gain more time for real challenges, such as enquiring reporting figures.

The SmartNotes EUROFILER Module allows downloading any XBRL taxonomy (such as FINREP|COREP|Solvency II) and creating reports, based on the taxonomy Table Linkbase’s. At the same time table views are not „hard coded“, rather the generic XBRL processor can adjust input templates and reports by simply adding a new XBRL taxonomy. The EUROFILER Module provides the following functions:

  • Client|Server multi-user architecture for group-wide, parallel report creation.
  • Data import from any source-system (in particular dimensional databases)
  • Automated generation of report tables from the XBRL taxonomy (Data Point Model)
  • Automated update of table structures from the XBRL taxonomy in a new taxonomy version
  • Direct binding of table cells (Data Points) in report tables to pre-system
  • Automated data mapping from pre-systems in table cells, based on dimensional properties
  • Manual input of figures in tables
  • Versioning of all figure changes and|or modifications, such as roundings (who, what, when) for both mapped and manual figures, the entire „Audit Trail“ persists
  • Validation of reports using validation rules, provided by the XBRL taxonomy
  • Status and authorisation concept to project quality assurance process on report and table levels. A „Workflow“ can be defined, so that separate report parts can be approved by freely configurable quality assurance managers
  • Updating of figures mapped to source-systems with a single click
  • Creating XBRL Instance and validation with a single click
  • Direct sending of XBRL Instance to regulators (e.g. Bundesbank, BaFin)
  • Different Excel reports (complete workbook, difference report previous year|current year, etc.)
  • A possibility to document|comment each change )e.g. giving a reason for rounding|regrouping)

The SmartNotes EUROFILER Module for FINREP|COREP and Solvency II can be integrated into existing installations.

The EUROFILER Module uses AMANA XBRL Processor, which is checked for correct operation by official XBRL Conformance Testsuites.

Curious? Then contact us to get more detailed information!

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