Revised revenue recognition requirements become effective at the beginning of 2018, and early adopters are helping to expose the effect of the changes on amount, timing, and presentation of revenue.
Revised revenue recognition rules go into effect in 2018, but there is still uncertainty about the effects on companies reporting and investors will have to figure out company-specific implications.
With over 150 million data points in this structured database, XBRL has the potential to increase the volume, speed, and access to corporate financial reporting and analysis.
Increasingly, auditors are expected to have a bigger and more effective role in ensuring the integrity of a wider array of company reported information that is material to investment decision making.
Companies say they need relief from the heavy burden of financial reporting, but what about the impact on investors and their ability to make informed investment decisions?
Transforming regulatory reporting from documents into data can make markets more efficient, empower investors, and improve regulatory oversight while also reducing compliance costs.
Environment, social, and governance measures and non-GAAP financial measures are important to add to traditional financial statement information when analyzing a company’s value.
The use of data analytics in auditing is key for more effective and efficient overall financial reporting process, which better serves investors.
Structured data, data analytics, and technology can bring greater efficiency for all parties in the financial reporting chain.
The benefits of adopting IFRS that firms enjoy depends on when they adopt, what reporting standards were like in their jurisdiction, and how well those standards are enforced.
Survey finds that companies are not using structured data, such as XBRL, in their financial reporting except when they have to for reporting to regulators.
In support of the use of data in financial reporting, the SEC commissioner proposed creating a new office and task force to design a data strategy and reimagine how data is provided to investors.
The current financial reporting process is time consuming and costly. Structuring data could streamline the process and provide more transparent and timely information for investors.
Using demand-side thinking gives investors the information they want and achieves the best financial reporting.
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