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The new challenge is the so-called text block tagging of the notes, which can also have a significant impact on the reporting process. Due to the new challenges, the current ESEF process should be reviewed. Read our blog post about the advantages, challenges and implementation options of text block tagging with Word and PDF.
The good news is:
No matter what you decide, our AMANA products support both and tagging does not have to be redone manually.
Tagging PDF documents with bolt-on products such as our AMANA XBRL Tagger has been the most common way to create an ESEF report over the last two years. A significant advantage is that the creation process can remain unchanged. The PDF document can be created by an agency or another upstream process. Tagging then takes place after the document has been created. In addition, the visual quality is much better because the HTML file looks 1 to 1 like the PDF file.
Unlike PDF, Microsoft Word is a creation format. It offers the advantage that the tagging information can be stored in the document and does not have to be restored from previous versions. In Word, so-called content controls are available for this purpose. These grow with the content. With our own proprietary Word-to-HTML converter the layout of the output also knows how to impress.
In parallel to the many advantages of using PDF, there are some things that need to be considered when creating text block elements. As a rule, the structure of the main financial statements hardly changes. The texts in the appendix, on the other hand, are much more volatile. The implementation is now that the first version of the PDF file can be transferred to the second version, which is possible with the AMANA solutions in a user-friendly way.
The current implementation of the AMANA solution now allows for the first version of the PDF file to be transferred to the second version, which is possible with the AMANA solutions in a user-friendly way.
This exact functionality was a focus of our development work for the XBRL Tagger 1.9.
The solution of the conversion of PDF files of our AMANA XBRL Tagger 1.9 includes the following functions:
The creation in Word should be provided with "grow with" content controls, so that the tagging information is stored in the document and does not have to be restored.
It should also be noted that if a switch is made from PDF to WORD, the layout will be taken from the WORD file in the future. Even when converting from WORD to HTML, the layout may deviate from the original layout of the WORD file. The layout should be tested at an early stage.
With one of the best HTML converters in the world and integrated autotagging, AMANA minimises the problems of creating business reports from the WORD file.
The solution of the conversion of WORD files of our AMANA XBRL Tagger 1.9 includes the following functions:
In addition to bolt-on tagging of PDF or Word documents with the AMANA XBRL Tagger, AMANA also offers hybrid tagging as well as a built-in solution. Learn more in our detailed white paper on text block tagging. In addition to the new challenges, we look at the user-friendly implementation with AMANA. We are also happy to share important practical tips to solve ESEF in 2022 without any problems.
Lucanet
Lucanet is a global software provider for financial consolidation, planning, and reporting. Our user-friendly CFO Solution Platform is designed to match the exact requirements of finance teams by providing accurate and consistent information effectively. For more than 20 years, 6,000+ customers in 50 countries have already trusted Lucanet.