On June 26, 2019 the Financial Services Authority (OJK) invited PT Niagaprima Paramitra as a speaker in a sharing knowledge session titled “Understanding Extensible Business Reporting Languange (XBRL)” which was carried out in the Office of the Financial Services Authority (OJK).
This sharing knowledge session aims to obtain information about how XBRL works in the financial reporting system and the implementation of XBRL in the current Indonesian Capital Market industry.
Having the understanding of how XBRL works is crucial for OJK to control and make proper standard and regulation. Results of the discussion are used as references in the preparation of studies related to the understanding of XBRL. Content of presentation includes:
- How XBRL is implemented in the world?
- Is there any difference between implementation of XBRL at IDX and in the world?
- What are the pros and cons for these differences?
- What is the ideal development of XBRL in IDX or in Indonesia Capital Market?
- What are the cost & benefits of implementing XBRL?
- How can XBRL exchange information with a standardized electronic format?
- How can XBRL change the presentation of financial statements to be interactive in accordance with the wishes of the user?
- Can we take advantage of the IDX’s taxonomy if we want to implement XBRL for regulator purposes?
- What are the features of XBRL including processing automated data?
- What are the weaknesses and strengths that XBRL will provide?
- How do you make XBRL according to your needs?
- Can XBRL bridge the information gap between existing business systems and how are they implemented?