Deloitte Anjin-Korea Listed Companies Association Successfully Holds 'XBRL Financial Disclosure Precautions Seminar'

XBRL Financial Disclosure Applied from This Year's Business Reports
Lecture by Financial Supervisory Service and Deloitte Anjin Experts
"We Will Fulfill Our Role as an XBRL Leading Firm"

Deloitte Anjin Accounting Corporation and the Korea Listed Companies Association announced on the 17th that they successfully completed the "XBRL (eXtensible Business Reporting Language) Financial Disclosure Precautions Seminar" held on the 14th for accounting and disclosure officers of major domestic listed companies.

On the 14th, during the 'XBRL Financial Disclosure Guidelines Seminar' held for accounting and disclosure officers of major listed companies in Korea, Lee Hyung-nam, Head of the XBRL Center at Deloitte Anjin, presented the basic concepts of XBRL, the process of preparing XBRL financial statements, and the composition of the XBRL Taxonomy applied domestically.
[Photo by Deloitte Anjin]

This seminar was organized to enhance understanding of the new disclosure system as XBRL financial disclosure expands to the notes of financial statements for listed companies with total assets exceeding 500 billion KRW starting from the 2024 business reports. The event, jointly planned by Deloitte Anjin’s ‘XBRL Center’ and the Listed Companies Association, was held offline at the main auditorium of the Listed Companies Association building. Additionally, for members unable to attend in person, the seminar will be available online on the Listed Companies Association website (https://www.klca.or.kr/) from July 1 to August 9.

Following the Financial Supervisory Service’s presentation on the “Overview of the XBRL Financial Disclosure System,” Lee Hyung-nam, head of Deloitte Anjin’s XBRL Center, delivered a presentation. Experts from Deloitte Anjin’s XBRL Center conducted lectures related to XBRL financial disclosure. In particular, various practical and meaningful topics necessary for listed companies to disclose XBRL notes were covered, including ▲the basic concepts of XBRL ▲XBRL Taxonomy ▲XBRL structuring ▲basic functions and usage of the XBRL editor ▲and FAQs for XBRL editor users.

Lee Hyung-nam, head of Deloitte Anjin’s XBRL Center, presented the basic concepts of XBRL, the financial statement preparation process, and the composition of the XBRL Taxonomy applied domestically. Following this, Director Jang Jae-sung explained the basic functions and usage of the XBRL editor and demonstrated step-by-step how to prepare notes. After the lecture, a Q&A session was held for practitioners to discuss the new disclosure system, how to utilize the XBRL editor, and difficulties encountered when preparing XBRL reports.

Lee Hyung-nam, head of Deloitte Anjin’s XBRL Center, stated, “Deloitte Anjin continuously operates educational programs to reduce the burden on companies due to the introduction of the new disclosure system and to ensure the stable establishment of the XBRL disclosure system in Korea. Efforts to standardize financial information providers’ data will enhance the information utility for financial information users and contribute to the sustainable growth of companies. Deloitte Anjin will fulfill its role as the leading XBRL firm to ensure that listed companies fully recognize these mutual benefits.”