About XBRL and XBRL Implementation at IDX · –More dynamics and complexities of corporate actions –More types of reporting and ... Planning of XBRL Implementation at IDX Build

30 April 2014

About XBRL and XBRL Implementation at IDX

Contents

• Introduction to XBRL

• XBRL Implementation at IDX

• Details on IDX Taxonomy

• Additional Information

Source:

World’s Listed Companies

21,585 21,323 21,357

23,070 24,201

25,052 26,368

27,054 27,574 27,896 29,353

30,679

33,083 32,790

39,314 40,447

45,552 46,883 46,409

45,434 45,508

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Number of World’s Listed Companies

How to Analyze All The Listed Companies?

Introduction to XBRL

What is XBRL ?

Allows Customization

of Concepts

Uniquely Defined

Concepts

Computer Understandable

Language

An Information Standard

XBRL – The “Bar Code” for Business Reporting World

How XBRL Works?

• The main purpose of XBRL is how business and financial data can be easily exchanged, compared and utilized without any constraints of Accounting Standard or language barrier.

• XBRL works by creating a sign (called “tag”) which can be identified specifically for each data. This Tag can be easily read by a computer software so that the data could be identified in any language.

• This method will simplify other parties in gathering and processing data electronically without the need to translate and re-keying of data. It will be easier in comparing data because of the similar tags used in reporting.

XBRL Tagging

• How to make computer understand the message?

Tagging the information

Asset 1,000 <Asset>1000</Assets>

XBRL tags all the information, functioning like barcodes

XBRL Usage

source: http://www.xbrl.org/knowledge_centre/projects/map Currently XBRL has been adopted as standard reporting over the globe

Reporting Before XBRL

Source Formats Receivers

Financial System

Explanatory

Disclosure

Reporting after XBRL

Source Formats Receivers

Financial System

Explanatory

Disclosure

XBRL generalizes all reporting languages into 1 standard report

• Improves access to financial

information

• Facilitates comparison & analysis

• Improves accuracy of financial

data & reduces costs

• Allows for open financial

reporting frameworks

The Advantages of XBRL

• Improve analysis of reports

• Cost savings

• Faster, more accurate and reliable

• Decrease manual comparison among reports

• Decrease Data Re-Entry

• Improve dissemination of information on the Internet

• Standardized reporting format

Who will benefit from using XBRL?

• Companies who prepare financial statements: More efficient preparation of financial statements because the reports will be created one time and rendered as printed reports, on Web sites or as other regulatory filings.

• Analysts, Investors, and Regulators: Enhanced distribution and usability of existing financial statement information. Automated analysis, significantly reduces re-keying of financial information from one form into another form, receiving information in the format that is more preferable for specific style of analysis.

• Financial publishers and data aggregators: More efficient data collection lowers operating costs associated with custom, idiosyncratic data feeds and reducing errors while concentrating on adding value to the data and increasing transaction capacity

• Independent Software Vendors: Virtually any software product that manages financial information can use XBRL for its data export and import formats, thereby increasing its potential for full-interoperability with other financial and analytical applications.

Source: www.accountingweb.com

XBRL Components

Illustration (1)

Case: Simple taxonomy contains primary Balance Sheet Item

Regulators (IDX) • Taxonomy

Preparer (Listed

Company) • Instance Document

Investor or User • Extract XBRL Data

1

2

3

Illustration (2)

The Taxonomy

# Regulator prepares the taxonomy – ex: IDX

Illustration (3)

Instances

context

value

unit

XBRL Instance Document

# Listed Company Prepares Report as Instance Document – ex: SMGR

Illustration (4)

User

# All users can directly extract the value from instance document – ex: Investor, IDX

Direct Extract

Direct Extract and Process

XBRL Implementation

at IDX

Background

Monitoring Perspective • Responsive monitoring requires better, faster, & reliable

information management because : – More companies listed on IDX – More dynamics and complexities of corporate actions – More types of reporting and disclosure – More types of securities and type of issuer

• Enhancing monitoring ability by creating Business intelegence. Quality of Disclosure Perspective • More reliable and informative disclosure of listed company needed

by market and investor • Differences of languages and financial standards between global

investors

Electronic Reporting System IDXnet

• IDXNet are electronic reporting system for listed companies, and

monitoring of listed companies as well

• IDXNet accessible through public internet

• IDXNet 1st generation based on XML Form launch at January 2009, used only

for equity issuer.

• IDXNet 2nd generation based on both PDF Form and XML database launched

on March 2013, also used for Bonds, Sukuk, ABS, ETF and SPEI Issuer. OJK is

also targeting to implement an equivalent system as IDXnet in 2013.

Jan 2009

1st generation IDXnet

Mar 2013

New generation IDXnet

Future Development

XBRL Form Support

Growth of Regulatory Filings at IDX

9,717 8,419 8,695

4,257

13,457 15,590 15,853

20,757

23,174 24,009 24,548 25,014

-

5,000

10,000

15,000

20,000

25,000

30,000

2010 2011 2012 2013

Manual Announcements Direct Announcements

58.1% 64.9% 64.6%

73.0%

41.9% 35.1% 35.4%

17.0%

Number of Filings

Manual filings announcement reduced significantly following the implementation of IDXnet enhancements in 2013.

IDX Current Reporting and Issues (IDX Perspectives)

No standardize comparable format

Manual validation

Simple format not comprehensive

Re-keying information

No readily available in multiple language

More complex business environment

Increasing number of listed companies and disclosure

The Issues

Current Reporting

IDX Net

Copy

(Optional)

IDX Data

warehouse

IDX Website

IDX

Internal User

Public

Listed

Companies

Financial

Service

Regulator

Current Reporting and Issues (Industry Perspectives)

Multiple filings

No standardize comparable format

Less data sharing within regulator

Listed Companies

Other Capital Market Fillings

Industry Regulatory Fillings

Self Disclosure

The Issues

Current Reporting

Tax Authority Fillings

OJK

IDX XLS

PDF

DOC

Paper format

Proprietary

method

Other formats

The Future Reporting Expectation

Potential for full-interoperability with other financial and analytical applications

Reduces inaccuracies

more interactive reporting

Enhanced usability of information

Automated data analysis

Reduces re-keying of data

Reduces processing time associated with data validation and extraction

Improves timely dissemination of reported information to the public

Deeper transparency

Future Reporting

Benefit

Other Capital Market Fillings

Industry Regulatory Fillings

Self Disclosure

Tax Authority Fillings

OJK

IDX

Companies

IDXnet 3rd Generation – XBRL Adoption (Plan)

BEI

taxonomy

Company information

for general information

Input Application & validation

Server

Manual input

Generate Excel

form

Upload

Excel form

Upload user created

extension taxonomy and

instance document

IDXnet Web interface

Submit to

IDXnet

Planning of XBRL Implementation at IDX

Build Taxonomy

Expand Scope of XBRL Adoption

Provide Solution

Publication and Recognition

Implementation

2013 2014 2015

Financial Statement

without Disclosure

Notes

To be defined

Financial Statement

without Disclosure

Financial Statement

without Disclosure

Financial Statement

without Disclosure

IDX Taxonomy Public Review

• Period – Public Review: 14 Feb 2014 – 14 Mar 2014 – Socializations :

• Jakarta: 20, 21, 24 Feb 2014 (Listed Companies, Data Vendor, Other Regulators) • Surabaya: 27, 28 Feb 2014 (Listed Companies)

• Purposes – Introducing IDX Taxonomy and its development planning – To obtain public reviews and feedback for IDX Taxonomy from Listed

Companies

• Stakeholders – Listed Companies, Other Regulators, Public Accountant, Data Vendor, and

Public

• Comments – Total Institutions: 269 institutions (266 from Listed Companies) – Total Comments: 961 comments (949 from Listed Companies) – Element update: 101 elements

Details on IDX Taxonomy

XBRL Reporting Scheme at IDX

Regulator

• Reporting and Accounting Standards

IDX Taxonomy

• IDX creates Taxonomy based on Reporting and Accounting Standards

Issuer

• Issuer input reporting information into the Instance Document

Instance Document

create output

IDX Taxonomy Folder Structure

{Release date}

dic

rep

FIN

DEI

NOFIN

forms

insurance

DEI

Corporate Disclosure

ep ep

ep

dic: schema,

label,

reference,

custom

datatypes, ELR

are located

belong to “dic”

folder.

rep: all report components such as

PRE, CAL, DEF, sector / subsector

specific labels and formula are

stored under “rep” folder.

DEI: for document

and entity

information; FIN:

for financial

information;

NOFIN: for non-

financial

information

securities

property

financing

general

infrastructure

taxonomy xbrl

Fund Disclosure

Collective

financingsharia

common dimensionDefaults

Formula

Explanations on IDX Taxonomy

DEI

1. General

2. Property

3. Infrastructure

4. Finance & Sharia

5. Securities

6. Insurance

7. Collective

8. Financing

IDX Taxonomy

DEI

1. Statement of Financial Position

2. Statement of Comprehensive Income

3. Statement of Changes in Equity

4. Statement of Cash Flow

Presentation Link Table in IDX Taxonomy

After Tax Before Tax After Tax Before Tax

1 General 1000000 1210000 1220000 1311000 1321000 1312000 1322000 1410000 1510000 N/A

2 Property 1000000 2210000 2220000 2311000 2321000 2312000 2322000 2410000 2510000 N/A

3 Infrastructure 1000000 3210000 3210000 3311000 3321000 3312000 3322000 3410000 3510000 N/A

4

Financial and

Sharia 1000000 N/A 4220000 N/A N/A 4312000 4322000 4410000 4510000 N/A

5 Securities 1000000 N/A 5220000 5311000 5321000 N/A N/A 5410000 5510000 N/A

6 Insurance 1000000 N/A 6220000 N/A N/A 6312000 6322000 6410000 6510000 N/A

7

Collective

Investment

Contract 1000000 N/A 7220000 N/A N/A 7312000 7322000 7410000 7510000 7520000

8 Financing 1000000 N/A 8220000 N/A N/A 8312000 8322000 8410000 8510000 N/A

By Function By Nature

Statement of Comprehensive IncomeStatement

of Changes

in Equity

Statement of Cash

Flow

Direct

Method

Indirect

Method

Entry PointNo DEI

Statement of Financial

Position

Current

and Non-

current

Liquidity

References in IDX Taxonomy

The overall format of the financial statements which have been prepared, has been through a review process by taking samples on 188 listed company’s financial statement in IDX, or representing 35% of all listed companies.

IDX Taxonomy 2014 was developed using several references and rules as follow:

• Statement of Financial Accounting Standards (PSAK);

• Statement of Sharia Accounting Standards;

• Provision on Capital Market rule:

BAPEPAM-LK Rule No. VIII.G.7 about The Guidelines of Financial Report Presentation;

BAPEPAM-LK Rule No. VIII.G.17 about The Accounting Guidelines of Securities Companies;

BAPEPAM-LK Circular Letter No. SE-17/BL/2012 about checklist of Financial Statement Disclosure for All Industries in Indonesia Capital Market.

The references are the provision that applied in December 31, 2013 and will be applied in January 1, 2015.

XBRL Validation

Formula Validation

• Existence Validation

Obligation to fill selected account in the financial statement.

Example: Current Asset, Non Current Asset, Total Asset, Total Equity, etc.

• Assertion Validation

Interconnection validation of certain account in financial statement.

Example: Cash balance in the Statement of Financial position must be equal with Ending Cash balance in the Cash Flow Statement.

Additional Information

XBRL Information - Website

International References

Sumber Website

XBRL International http://xbrl.org

XBRL US http://xbrl.us

SEC http://www.sec.gov/spotlight/xbrl.shtml

IASB http://www.iasb.org/xbrl

Thank You