XBRL Canada Seminar - Last chance to register!

Wednesday, October 29, 2014 – 9:00AM – 12:00 Noon

Offices of CPA Canada, 277 Wellington St W, Toronto, Second floor

XBRL Canada is sponsored and supported by CPA Canada

Presented by Ilya Vadeiko of Findynamics

Attracting Capital to Canadian Small Cap Companies with XBRL

It is a known fact that the Institutional analysts are not interested in covering young Canadian companies that fall under the category of Small Cap, i.e. having little to no revenue yet. This is oftentimes the reason why those companies are undervalued and present a great investment opportunity for retail investors. That is also the reason why the companies themselves struggle to raise capital in Canadian Capital Markets.

However, to unearth such great investment opportunities the analysts and retail investors need to spend a tremendous amount of time on collecting financial information of small cap companies in order to perform a peer group comparison and do valuation. XBRL presents the perfect affordable solution for that problem.

At the seminar, we will describe how the small cap companies and stock exchanges can leverage XBRL to provide analysts and investors with easy access to the financial data. We will also demonstrate how the analysts can automate the data collection and analysis process with XBRL.

Agenda:

      1)   Introduction in XBRL

      2)   Cost effective solution to providing key financial metrics in XBRL format

      3)   Performing Peer Group analysis and valuation of Small Cap Companies with XBRL platform

      4)   Transforming Investor Relations (IR) communications with XBRL for attracting capital to Small Cap Companies

      5)   Demonstration of financial and industry analysis using XBRLAnalyst by FinDynamics

Please Register at www.xbrl.ca 

Seminar - $30 for members, $60 for non-members

Data Act passes in the US House of Representatives

The landmark Data Act has passed in the House of Representatives and will now go to the President. That act calls for uniform data standards across the country in order to improve on the transparency of government spending. Uniform data standards will make it easier to transmit and analyze data.

There is a widely held belief that XBRL will form an important part of the data standards. This follows upon a recent suggestion by the Department of Commerce that Standard Business Reporting (SBR) using XBRL be adopted in the US.

CPA Canada has recommended to the Canadian Minister of Finance in pre-budget consultations that SBR be explored in Canada. The House of Commons Committee on Finance has reiterated that recommendation.

For a writeup on the Data Act, check this link.

Seminar - Attracting Capital to Canadian Small Cap Companies with XBRL

XBRL Canada Seminar

Wednesday, October 29, 2014 – 9:00AM – 12:00 Noon

Offices of CPA Canada, 277 Wellington St W, Toronto, Second floor

Presented by Ilya Vadeiko of Findynamics

Attracting Capital to Canadian Small Cap Companies with XBRL 

It is a known fact that the Institutional analysts are not interested in covering young Canadian companies that fall under the category of Small Cap, i.e. having little to no revenue yet. This is oftentimes the reason why those companies are undervalued and present a great investment opportunity for retail investors. That is also the reason why the companies themselves struggle to raise capital in Canadian Capital Markets.

However, to unearth such great investment opportunities the analysts and retail investors need to spend a tremendous amount of time on collecting financial information of small cap companies in order to perform a peer group comparison and do valuation. XBRL presents the perfect affordable solution for that problem.

At the seminar, we will describe how the small cap companies and stock exchanges can leverage XBRL to provide analysts and investors with easy access to the financial data. We will also demonstrate how the analysts can automate the data collection and analysis process with XBRL.

Agenda:

      1)   Introduction in XBRL
2)   Cost effective solution to providing key financial metrics in XBRL format
3)   Performing Peer Group analysis and valuation of Small Cap Companies with XBRL platform
4)   Transforming Investor Relations (IR) communications with XBRL for attracting capital to Small        Cap Companies
5)   Demonstration of financial and industry analysis using XBRLAnalyst by FinDynamics
 
Please Register at www.xbrl.ca 

Seminar - $50 for members, $100 for non-members

XBRL Canada is sponsored and supported by CPA Canada

Media Advisory – XBRL Canada Seminar – Wednesday, October 29, 2014

Toronto, Ontario – XBRL Canada is pleased to announce that it will be hosting a seminar on Wednesday October 29, 2014 at the Offices of CPA Canada, 250 Wellington St W, Toronto, Second floor.

The seminar will be geared towards public companies reporting to the SEC.

Eric E. Cohen of PwC (US) will be discussing how to improve processes and controls for XBRL filings with the US Securities and Exchange Commission

Ilya Vadeiko of Findynamics, will be discussing how XBRL is used for analysis

Topic	Time
Speaker: Eric E. Cohen, PwC (US)
Overview of the filing rules under SEC Rule 33-9002 The Rule The EDGAR Filer Manual Other Guidance and Best Practices	9:00 – 9:40
Understanding and applying the US GAAP Taxonomy	9:40 – 10:10
Break	10:10 – 10:20
Inhouse or outsource: compare and contrast	10:20 – 10:35
Bringing XBRL in-house	10:35 – 10:50
Tools for preparation, validation and analysis	10:50 – 11:10
Pitfalls to avoid: Common XBRL errors	11:10 – 11:25
Who (or what) is using your XBRL?	11:25 – 11:40
Process and control considerations	11:40 – 11:55
Call to Action/Q&A	11:55 – Noon
Lunch	Noon to 1:00PM
Speaker: Ilya Vadeiko, Findynamics, Creators of XBRLAnalyst
How XBRL is Used for Analysis	1:00PM – 2:30PM
Speakers: Eric Cohen, Ilya Vadeiko and Wasim Thaha
Q&A	2:30 – 3:30PM

The cost to attend is $50 for members, $100 for non-members. Also, attendees will receive a 50% discount for a 3 month subscription to XBRLAnalyst.

Be sure to reserve this date. Registration is available on the XBRLCanada website at www.xbrl.ca.

XBRL Canada is sponsored and administered by CPA Canada.

For further information, please contact: XBRL Canada, Gerald Trites, Project Director, (416) 602-3931, Email:gtrites@xbrl.ca

The Business Case for Membership in XBRL Canada

Membership in XBRL Canada costs $7500 per year for the largest firms, scaling down to $250 for individuals. (Full details are in the schedule at the end of this article.)

A question often asked by those considering membership is – what is the business case for this expenditure? This document outlines the business case for membership in XBRL Canada.

The Business Case

XBRL is an internationally recognized standard for reporting financial and business information in an electronic form that is platform independent and scalable. It enables information to be processed automatically without human intervention. It also enables users to download the information and present it and analyze it in their own tools and according to their own needs. At the same time, it allows a company to present its information in a standard instantly recognizable around the world, while still providing sufficient flexibility to enable it to “tell its own story”.

XBRL is a game changer. It provides a clear break from the past of reporting financial and business information on paper in a form that is designed for reading but not for analysis. Most users today are more interested in analysis than in reading. It sets the stage for a new era where corporate reporting is based on data rather than traditional paper forms - an era that is consistent with our environment of big data and data analytics. This has huge implications for the development of financial and business reporting standards in general.

XBRL has been adopted in most countries around the world. The SEC has required it for several years in its reporting rules as have many other regulators in other countries. All of the G-8 countries except Canada require it. Therefore XBRL is a growing force in international capital markets. Ultimately, the availability of data in XBRL format will be a determining factor in global securities markets.

Although the capital market regulators in Canada do not require XBRL, CPA Canada has recommended to the Minister of Finance for the past two years that Standard Business Reporting (SBR) be implemented using XBRL. Under SBR, all government filings and returns would be done in XBRL, to facilitate processing and sharing (within legislative restrictions) of the information.

Despite lack of a Canadian mandate, some 300 Canadian companies presently file in XBRL with the SEC, either as foreign or domestic filers. Moreover, the SEC will soon be approving the use of the IFRS Taxonomy for its filings, bringing into play the foreign filer rule for all cross-listed Canadian companies, another 400 companies.

Therefore, the presence of XBRL in Canadian financial and business reporting is developing and growing.

Membership in XBRL Canada offers the following benefits:

1. The opportunity to network with others involved in the XBRL community
2. The opportunity to have “the inside track” on current developments in XBRL.
3. An opportunity to participate more fully in XBRL events, such as the annual conference, webinars and seminars.
4. Ability to receive a discount where events are held with an admission charge.
5. Direct linkages with a strong international XBRL community.
6. Invitations to private events held periodically
7. Listing on our website of your company together with your logo
8. Timely notice of important events/trends

The Membership Dues for 2014-15 are as follows:

Corporate/Organizational Memberships	XBRL CA Dues
Commercial organization over $100m revenue	$7500
Company that qualifies for XBRL filing with the SEC or other similar regulatory agency regardless of size	$1000
Other Commercial organizations	$1000
Government  department or agency	$1000
Individual memberships (Individuals who are employed by companies with revenues over $100 million are not eligible for individual memberships.)	$250/year
Faculty of academic institutions	$100/year
Student of academic institutions	$50/year

To Join XBRL Canada: email to  info@xbrl.ca or gtrites@xbrl.ca