Philips XBRL
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care.
Philips was interested to understand how to incorporate XBRL Financial Reporting requirements for IFRS for the future.We have led the XBRL project which answered this question with the design of an Integrated Approach. This means that XBRL is implemented within the Corporate Reporting landscape and the Corporate Datawarehouse can fulfil both Management Reporting and Financial Reporting including XBRL tags. A prototype has been delivered to show the feasibility of the Integrated Approach.