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Presentation by Skip Falatko & Thomas Hood to the XBRL US Conference in Nashville.Maryland Association of CPAs case study on how we standardized our financial data down to the transaction level using XBRL GL. We were able to streamline our internal financial reporting, creating drill down financial statements and automating export to our KPI Analysis system across two different systems. The result? faster data for management decision making, increased accuracy, and freeing up finance team for more analysis and less checking of data.
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XBRL for Nonprofit Financials
Maryland Association of CPAs
• 8,500 CPA members• $6.5 million budget• 34 employees
Maryland Association of CPAs
• Global Ledger• Bottom up approach• “Free” the data• Faster information
What Intrigued us?
• It will change how they work!• Less compiling•More analysis and interpretation
Why is this important to CPAs?
• Mapping was a challenge• Non-Profits need their own taxonomy• XBRL would be beneficial in the non-
profit community
Initial work on XBRL
• Tagged at the transaction level• Tagged our membership database &
Dynamics• Pulled from both to populate reports• Drill down capability• Faster information
Recent XBRL work…...
• Difficult to quantify• More detail• Faster• Automation• Deeper information
Global Ledger Savings?
• Map accounting data to XBRL Global Ledger Taxonomy
• Use Dynamics and Am.Net• Use Excel data import for KPI analysis, other apps• Utilize Global Ledger data to automate internal
financial reporting process – KPIs, Audit, Freedom of Data
Technical Overview
• Membership database – AM.Net– A/R– A/P– Event Data– No Accruals accounted for
in reports
• Microsoft Dynamics– Accruals– Budgets– FRX Reports
MACPA’s Accounting System
• Accounting Systems Don’t talk to each other
• Staff require different data sets
• “Are the numbers right” – manual process response
Disconnects/Fix
• XBRL Global Ledger!• Alternative solution:– Give Dynamics and Am.Net
an Ultimatum: Stop ignoring each other or we are switching to QuickBooks until they start behaving.
• Altova Mapforce• Identify correct information – tables in DB• Use SQL to retrieve relevant data• Accounting Data to XBRL GL Taxonomy• Process XBRL GL Data using SQL• Create batch files to update instance documents
Mapping
AM.Net to XBRL GL
Dynamics to XBRL GL
Accounting Data Dynamics
Accounting Data AMNET
XBRL GL Data
Excel XML Import
Financial Scoreboard Graph
Audit Worksheet Budget vs. Actual
Drill Down Internal StatementsOperating Statement – Excel Pivot Table
Drill Down Internal Statements2nd Level Detail – Web Expenses
Drill Down Internal Statements3rd Level Detail – Web Expense
• Faster movement of data• Reduced manual effort• Reduction of errors• Comparability across other organizations• Deeper analysis– Transaction level detail availability– Annual, Quarterly, Monthly for past 11 years of data
Global Ledger Benefits?
• Non-profit taxonomy• Graphic representation• Form 990 population• SBR in Maryland?• Direct Cash Flow Statement - With drill down• Salesforce.com• Sharing data
Where are we going?
Consider Global Ledger
Set Your Data Free!
Copyright Paramount Pictures
• Eric Cohen – PwC• Mike Willis – PwC• Tara LeFave – Altova• Beth O’Brien - Altova• Taylor Hawes – Microsoft• Chethan Gorur – Trintech
Thanks to…….
• Our blog CPA Success– http://www.cpasuccess.com/XBRL
• Our podcasts– http://www.macpa.org
• Our XBRL webcasts in our learning center– http://www.macpa.org/Content/23333.aspx
• Case study on-linehttp://www.cpasuccess.com/2011/06/macpa-and-xbrl-a-small-biz-case-study.html
More XBRL resources from MACPA
• Skip Falatko• [email protected]• Linkedin
http://www.linkedin.com/pub/skip-falatko/4/14b/332
• Thomas Hood• [email protected]• Linkedinhttp://
www.linkedin.com/pub/thomas-hood/17/76a/5a1
Contact info………
