Integrated XBRL Using Clarity FSR
Clarity FSR offers the most advanced XBRL solution on the market today. By integrating XBRL into the external reporting process, Clarity FSR makes the tagging, validation and creation of XBRL documents dramatically more efficient and less error prone.
Key XBRL Features in Clarity FSR:
- Unique Tag OnceTM technology
- Seamless integration with source data
- Audit trail
- Collaboration
- Workflow management
- Financial rounding
Clarify FSR fully aligns with the SEC’s XBRL requirements by making it easier to tag financial data and commentary and deliver output in any number of formats, including XBRL. By choosing Clarity FSR, companies not only address their XBRL tagging requirements but also reduce the risk and costs associated with their current external reporting process.
Seamless Integration to Source Data
- Clarity FSR provides an easy-to-use method to pull data from a wide variety of data sources including: the leading ERP systems, the leading financial consolidation applications, relational databases, and OLAP databases. Every number in the final report links directly back to a single data source ensuring that there are no conflicting numbers anywhere in the report
- And, changes to the source numbers automatically cascade through the report. For example, journals posted in the source system(s) automatically flow into the XBRL document
- This ensures there is only "one version of the truth"
Tag OnceTM Technology
- Tag the data with XBRL tags just once with Clarity FSR and future reporting periods automatically pick up the same tags. There is no need to re-tag the document as data changes within the same reporting period because the updated data automatically flows into the XBRL document. And, there is no need to re-tag the document for future reporting periods, because the tags are automatically retained for future reporting periods
Web-based Data Collection Flowing Directly into XBRL
- Web-based data collection provides the ability to collect statistical and operational data – with this information automatically flowing into the XBRL document
Business Rules
- Clarity Business Rules automatically ensure that all data in your documents tie out. Users can create any number of business rules to verify that summary numbers tie out to the detailed notes or to ensure that data is consistently presented across the document
Variables in Text
- Clarity FSR lets you place variables in text – to ensure that data in your financial statements tie out to the values that are embedded within paragraphs of text. If the data in your financial statements changes, then the values in your paragraphs of text also change – automatically
Tag Text and Data
- Clarity FSR users can easily tag financial data and commentary once and have it automatically flow to future reports
Support for the Latest Taxonomies
- Clarity FSR supports the latest XBRL taxonomies
- Users can also extend the standard taxonomies with company-specific tags using the Taxonomy Designer
Built-in XBRL Viewer
- Clarity FSR users can easily view the final XBRL report using the built-in XBRL viewer
...But XBRL Tagging is Only a Small Part of the Overall External Reporting Process
Clarity FSR delivers an integrated XBRL solution that also automates the external reporting process to make it more efficient, reduce risk and deliver output in multiple formats including XBRL, PDF and MS-Word. This creates a faster, less error prone process that gives investors a choice of report formats.
Clarity FSR aligns fully with the SEC direction, in that it makes it easier to tag financial data and commentary and output it in any number of formats, including XBRL. Clarity in fact helps companies address the pain they currently face in building their external reports and provides the XBRL output with no additional effort.
