Taylor Hawes Taylor Hawes Controller – Global Platforms & Operations Microsoft Corporation SEC Voluntary Filing Program SEC Voluntary Filing Program
Dec 31, 2015
Taylor HawesTaylor HawesController – Global Platforms & Operations
Microsoft Corporation
SEC Voluntary Filing ProgramSEC Voluntary Filing Program
SEC Voluntary Reporting Program on the SEC Voluntary Reporting Program on the EDGAR SystemEDGAR System
Effective date March 16, 2005 Allows companies to “furnish” XBRL tagged
financial statements Added Rule 401 to Regulation S-T allowing filers to
furnish supplemental information using XBRL Allows for company flexibility in filing financial
statements, with or without footnotes and MD&A Can submit XBRL tagged document either with the
official filing or as an amendment, however, there is no submission deadline
Must correlate to a standard GAAP Taxonomy Relief for liability if error is not materially
misleading or false
SEC Voluntary Reporting Program on the SEC Voluntary Reporting Program on the EDGAR SystemEDGAR System
SEC would like to study: Search capability of EDGAR database Capability to perform financial comparisons
amongst registrants Ability to perform financial analysis (ratios, etc.) Impact on staff’s ability to review filings more
timely and efficiently Use of tagged data for risk assessment Compatibility of XBRL with other Commission
requirements
Financial Reporting ProcessFinancial Reporting Process
Extend the taxonomy if Extend the taxonomy if necessarynecessary
Financial Reporting XBRL Project
Create an instance Create an instance document and validate document and validate
calculationscalculations
Publish Instance Document & TaxonomyPublish Instance Document & Taxonomy
Compare & map Compare & map 10K/10Q to GAAP 10K/10Q to GAAP
TaxonomyTaxonomy
Assess Scope of Assess Scope of Reporting & Download Reporting & Download
TaxonomyTaxonomy
Review & Review & Validate Validate Instance Instance
DocumentDocument
Identify a team: Accountant & Identify a team: Accountant & Developer (XMLDeveloper (XML))
Microsoft Facts…. Was one of the first companies to make XBRL tagged
financials available on www.microsoft.com March 2002 Was the first company to furnished complete 10Q March
2005 quarter (MD&A, Financial Statements and Footnotes) in anticipation of Voluntary Filing Program
Was the first company to furnish complete 10K FY2005 80+ Hours for first effort Used 4 different programs to extend, tag and validate Instance document totaled 92 pages Over 8,000 tagged items Over 20 Taxonomy extensions Most significant challenge was footnote tables for “Segment
Reporting” Instance document was reviewed 3X by two different people Did not request audit of tagged document
Internal Value PropositionInternal Value Proposition
Business Business Performance Performance ManagementManagement
Competitive Competitive AnalysisAnalysis
Risk Risk ManagementManagement
Auditor toolsAuditor tools
404 Monitoring404 Monitoring
Real-time Real-time ConnectionConnection
Enterprise Use of XBRLEnterprise Use of XBRL
DataData
Business Business OperationsOperations
Acquisition Acquisition IntegrationIntegration
ExternExternal al ReportReportss
SEC SEC FilingsFilings
SEC SEC DisclosurDisclosure e ChecklistChecklist
Dept of Dept of CommercCommercee
BanksBanks
Internal Internal ReportsReports
DatDataa
DataData
General General Ledger Ledger ConsolidatioConsolidationn
Drill Drill downdown