For several years the U.S. Securities and Exchange Commission (SEC) has mandated that filers apply eXtensible Business Reporting Language (XBRL) tags to their financial statements. XBRL was developed to make it easier for investors to use a company’s financial information. Now XBRL US has kicked off its second annual XBRL Challenge, a contest designed to encourage development of open source analytical tools that can use XBRL-formatted corporate financial data from the SEC’s EDGAR database....
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Topics:
Office of Finance,
Reporting,
closing,
XBRL,
Analytics,
Business Analytics,
Business Performance,
Financial Performance,
Information Management,
finance,
Financial Performance Management,
SEC
Host Analytics has added new analytics and reporting resources to its cloud-based performance management suite. Business Analytics will offer a broad set of built-in analytics and reporting capabilities or, for companies with an existing business intelligence infrastructure (from vendors such as IBM, Infor, Oracle or SAP), the option of a self-service approach. I believe these new analytics and reporting capabilities give companies considering only on-premises performance management deployments...
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Topics:
Planning,
Sales Performance,
Reporting,
Budgeting,
closing,
Consolidation,
Host Analytics,
XBRL,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Mobility,
Business Performance,
Cloud Computing,
Financial Performance,
Workforce Performance,
Data,
benchmark,
Decision Hub,
Financial Performance Management,
SEC
The mandate by the U.S. Securities and Exchange Commission (SEC) that requires its filers to apply eXtensible Business Reporting Language (XBRL) tags to their financial statements has been in effect for several years. (XBRL is a core element of our Office of Finance Research Agenda for 2012.) One of the most important ideas behind this “interactive data” requirement was to make it as simple as possible for investors to be able to consume and analyze corporate financial data filed with the SEC....
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Topics:
Office of Finance,
extended close,
US-GAAP,
XBRL,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Business Performance,
Financial Performance,
Governance, Risk & Compliance (GRC),
Information Applications,
Information Management,
CFO,
compliance,
financial reporting,
SEC,
Digital Technology
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Topics:
Office of Finance,
closing,
Controller,
FASB,
IASB,
IFRS,
XBRL,
financial performance,
Analytics,
Business Analytics,
Business Intelligence,
Business Performance,
Financial Performance,
Governance, Risk & Compliance (GRC),
CFO,
financial statement,
GAAP,
SEC
The melding of the world’s two main financial accounting standards – United States Generally Accepted Accounting Standards (US-GAAP) and International Financial Reporting Standards (IFRS) – continues apace. Initially, the idea was to converge the two into a single, global standard. Although there was general agreement that the concept was a noble one, there were enough differences to produce practical concerns about implementing these changes, especially in the United States. Then, in December...
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Topics:
Office of Finance,
Controller,
FASB,
IASB,
IFRS,
XBRL,
Financial Performance,
CFO,
financial statement,
GAAP,
SEC
Host Analytics is taking advantage of one of the inherent advantages that vendors of software as a service (SaaS) have compared to on-premises ones: It’s easier for them to offer their customers data services and shared data repositories. The company’s Decision Hub has been available since last summer. Although it doesn’t break new ground, it is a solid offering of this type and its value should be considered in any evaluation of Host’s offering.
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Topics:
Planning,
Sales Performance,
Reporting,
Budgeting,
closing,
Consolidation,
Host Analytics,
Operational Performance,
Business Analytics,
Business Collaboration,
Business Performance,
Cloud Computing,
Financial Performance,
Workforce Performance,
Data,
benchmark,
Decision Hub,
Financial Performance Management,
SEC
As the third calendar quarter draws to an end, most companies will be preparing their financial close, which is part of the ongoing accounting cycle. Periodic closing is a core finance function. Since companies found they could substantially shorten their closing intervals with computer-based accounting systems in the 1990s, there has be an ongoing focus to keep shortening the time it takes to close, and for good reason. For companies that must file financial statements with investors, closing...
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Topics:
Office of Finance,
Reporting,
closing,
Consolidation,
Fast close,
Business Performance,
Financial Performance,
benchmark,
Financial Performance Management,
financial reporting,
SEC
Hans Hoogervorst, who just succeeded Sir David Tweedie as the chairman of the International Accounting Standards Board (IASB), recently said he is “optimistic the SEC will move to fully incorporate IFRS [International Financial Reporting Standards] shortly.” I find it hard to see why, unless one has a fairly elastic definition of “fully,” “incorporate” and “shortly” (or at least two out of three). Then again, one shouldn’t fault the head of an organization for expressing undue optimism since...
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Topics:
Office of Finance,
Reporting,
Consolidation,
FASB,
IASB,
IFRS,
Business Analytics,
Business Collaboration,
Business Performance,
Financial Performance,
GAAP,
SEC
In July, Australia adopted what it calls "Standard Business Reporting" (SBR), which is designed to reduce the reporting burden imposed on businesses by the country's federal and state governments by streamlining the information submission ("lodging" for the Oz) process. In essence, the country is on its way to a file-once-use-many approach whereby companies provide data using a single secure sign-on known as "AUSkey" As of now, SBR reports include the Business Activity Statement, Tax File...
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Topics:
XBRL,
Business Performance,
Financial Performance,
finance,
SEC