ANALITICA iXBRL is the solution to reliably prepare consolidated financial statements for your listed company in compliance with ESMA requirements.
ANALITICA's financial management expertise is combined with industry-leading iXBRL technology, CoreFiling, to provide a unique integrated solution that ensures flexibility, accuracy, and compliance.
iXBRL ANALYTICS features
- Automatic tagging of tables and text thanks to a machine learning engine that allows auto-tagging in Word and Excel.
- Ability to migrate and reuse TAGs used in previous years to tag the current year.
- Possibility of automatically reviewing and validating tagging before submitting the document.
- Compliance with the Inline XBRL (iXBRL) standard for ESEF.
- ANALITICA integrates iXBRL by CoreFiling certified by XBRL International, which ensures correctness and compliance of tagging and iXBRL files generated according to ESEF specifications.
- CoreFiling automatically updates the taxonomy in case ESMA makes any changes, always ensuring correct compilation.
- Possibility to extend the taxonomy with machine learning.
Directive 2013/50/EU - which amends Directive 2004/109/EC (the "Transparency Directive") - stipulates that from 1st January 2020, all consolidated annual financial reports of companies listed on regulated markets in the EU and the European Economic Area must be prepared in a single European electronic format, ESEF (European Single Electronic Format), which aims to ensure better comparability and greater transparency.
These companies are therefore obliged to convert their consolidated financial statements into an XML language, the "inline eXtensible Business Reporting Language" (iXBRL), an enhancement of the XBRL markup language, with the aim of facilitating the accessibility, analysis and comparability of consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS).