Introduction to XBRL - digital business reporting standards


This webinar will provide you with an introduction to XBRL for finance. Our expert Dr Laura Rusu will present an overview of XBRL fundamentals and share her insights on sustainable XBRL compliance and digital financial and business reporting processes. Learn how organisations can derive maximum value and improve the effectiveness of their digital reporting, including benefits and capabilities.

This webinar provides an introduction to the application of XBRL (eXtensible Business Reporting Language).

XBRL was developed by XBRL International in consultations with the global accounting community as the single universal language for business data exchange. XBRL enabled accounting systems can communicate electronically with regulators, government and relevant stakeholders, thereby reducing costs and enhancing data access.

This introductory webinar will cover:

  • Overview of the XBRL – how the XBRL standard works and technical considerations
  • XBRL fundamental concepts (facts, taxonomies, contexts, element types, labels)
  • Creating and validating XBRL document instances - types of common errors, data quality issues and validation
  • XBRL versus Inline XBRL
  • Discussion of the current use of XBRL for financial reporting to ASIC

A look ahead into the future (XBRL for sustainability reporting, XBRL and LEI)

Learning Outcomes

Upon satisfactory completion of this activity you will be able to:

  • Explain what XBRL is, including regulatory and compliance requirements.
  • Describe how the XBRL preparation and validation works, common reporting errors and technical considerations.
  • Explain what XBRL capabilities may look like in the future.

Benefits

This introductory webinar is aimed at business, accounting, government and regulatory professionals. It provides the key concepts needed to understand the practically apply XBRL in your working life. It provides introductory materials for developers and software professionals. It is a useful way of understanding the business and technology context of the standard.

Dr Laura Rusu

Founder XBRL ADVANCE

Laura is a standardisation expert and founder of LENSELL®, a digital platform for corporate performance democratisation that makes finding and accessing corporate financial and sustainability data easy for consumers.

A lecturer and author with over 20 years’ experience in industry, academia and research, Laura’s passion is using technology to solve pressing problems. Her expertise in devising business intelligence systems that support decision making has earned Laura two patent awards from IBM for innovation in digital technologies, data analytics and AI. Laura also holds aPhD in Computer Science from La Trobe University and a Graduate Certificate in Professional Accounting from RMIT University.


EVENT DETAILS


Topic: Reporting

Sub-Topic: Information & Communication Technology, Sustainability

Format: Recorded Webinar

Proficiency Level: Foundation

CPD: Upto 1 hours