XBRL Wizard IFRS Version
XBRL Wizard IFRS is an expanded version of XBRL Wizard Standard and holds all the functionality from the standard version.
You get all the standard functions:
- Automatic Quality Assurance – The system checks the balance sheet against the profit and loss statement, and the XBRL file against the original file both on the retail level and on all sum levels
- Automatic Reconciliation – The system performs reconciliation between the content of the notes and income statement / balance sheet
- Instant Notification – You will be informed if part of the content in the accounts that are not mapped to XBRL file
- Easy Comparison – You can print an XBRL report, so you can validate it against the original accounts.
Plus, XBRL Wizard IFRS offers this expanded functionality:
- More Taxonomies: Available with both the Danish Gap taxonomy as well as IFRS taxonomy
- Easy to Customize: Expansions to the IFRS taxonomy can be done very fast and easy (making it possible to fit the taxonomy the precisely your accounts)
- A Perfect Fit: Extended parameter functionality to set up the system, so that it fits exactly to your accounts
How is this done?
You start by loading your final Annual Report into the XBRL Wizard.
By advanced word recognition methods, the system will find and tag the relevant parts of the Annual Report with the correct lines in the IFRS Taxonomy. If word recognition is not possible you can easily make a new tag at the correct place in the taxonomy.
If the taxonomy does not hold all the elements you need to correctly tag your Annual Report, you can just make extensions to the taxonomy. You just press “Set up new element”, give it a name and place it in the right content in the taxonomy. Then you can use the new element just as you do with the rest of the elements in the taxonomy.
A number of quality assurance checks as well as a user friendly log function gives you total control over the mapping process and makes it easy to fix any errors.
When the tagging is done, you just press print and you can see all the tags in a control report. This report can be compared with the original Annual Report making sure that everything is OK. And then you just press “create XBRL file” and you are done.
Call +45.42.41.42.01 to contact us and get started with your XBRL Wizard® solution.
Related Products
XBRL Wizard Standard – for local GAAP Annual Reports
XBRL Wizard ESMA version – for local GAAP, IFRS and ESMA Annual Reports
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