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XBRL Financial Statement Case Study

XBRL Financial Statement Case Study. Bob Laux Director, Technical Accounting and Reporting Microsoft Corporation. Microsoft’s Use of XBRL in External Reporting. Financial statements included with quarterly earnings release formatted in XBRL

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XBRL Financial Statement Case Study

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  1. XBRL Financial Statement Case Study Bob Laux Director, Technical Accounting and Reporting Microsoft Corporation

  2. Microsoft’s Use of XBRL in External Reporting • Financial statements included with quarterly earnings release formatted in XBRL • Posted to Investor Relations site on the same day as earnings release • 10-K/10-Q Income Statement, Balance Sheet, Cash Flows Statement, and Stockholders’ Equity Statement formatted in XBRL • Filed with the SEC via an 8-K • Currently looking at potentially tagging MD&A and the footnotes

  3. Microsoft’s Use of XBRL in External Reporting • Pain Points • Some manual tagging, but increasing use of Office Tool for XBRL prototype • Present EDGAR system does not allow the receipt of XBRL/XML files unless it is in an altered form • Why Bother? • Shows leadership • Benefits our stakeholders • Benefits Microsoft’s internal and external reporting

  4. Microsoft’s Use of XBRL in External Reporting • Benefits to our Stakeholders • Enhanced analytical capabilities • Performance versus others • Performance versus multiple prior periods • Lower cost of consuming information • Faster access to information • More timely, accurate data for decisions • Enhanced functionality

  5. Microsoft’s Use of XBRL in External Reporting • Benefits to Microsoft’s Internal and External Reporting • Data integrity • Decrease/elimination of the reentering of data • Ability to streamline processes for collecting and reporting financial information • Linking of information from disparate systems • Ability to enhance monitoring of internal controls

  6. Microsoft’s Use of XBRL in External Reporting • Looking forward • Enhanced Business Reporting • Framework to put structure around external reporting of information not currently covered under GAAP, including a discussion of management strategy and plans, risks and opportunities faced by a company, as well as industry-specific, process-oriented value drivers and financial and non-financial key performance indicators • XBRL is an important enabler for this effort

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