How to do your iXBRL conversion for the annual report
19th Sep 2021
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Is iXBRL one of your major concerns when making this year's annual report? And are you already planning to spend a big part of the budget on iXBRL consultants?
Then read on to learn how to do your iXBRL conversion in-house - save time and recourses while avoiding external consultants.
When making the annual report, the final step for most European groups is to convert the annual report into the XBRL format. It is now possible to use iXBRL, making your annual report readable for both humans and machines in one file.
iXBRL is the electronic reporting format in which issuers on EU regulated markets will need to prepare their annual financial reports from January 1st, 2021. First submissions in this new format will be required from January 1st, 2022.
Doing this conversion often requires time, financial resources, and external consultants. But you can remove all the extra cost and time spent by moving the conversion in-house.
Learn how you can live up to the required standards for uploading your annual report in an iXBRL format and cut the cost of external consultants.