For example, in a recent article on TIBCO’s blog, I attempt to use some a basic cost accounting principles (efficiency and effectiveness) to help Oil and Gas companies consider making the switch: http://spotfire.tibco.com/blog/?
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Great article in Fed Scoop about new legislation being introduced in Congress that would take the XBRL global data standard -- created by the accounting profession -- and build-out across all federal financial agencies for better transparency and accountability
Major search engines like GOOGLE are using structured data (XBRL is a version of structured data created by the accounting and auditing for business and financial data reported on the Internet) to better locate and process information: “Structured data use is increasing and is in approximately one-third of the commonly crawled web now and clicks increased by 43 percent using the structured data format
Several of these government agencies - like the Federal Reserve - use different accounting standards for financial reporting from other federal agencies
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Sixty percent of financial statement data is already being consumed electronically, and this figure will continue to grow, according to International Accounting Standards Board Chairman, Hans Hoogervorst.
Human capital disclosure is an important part of environmental, social and governance disclosures or what the accounting and auditing profession is calling “Integrated Reporting” which the IMA is an important member