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Cost Accounting in Big Data Analytics

For those of you who don’t know me, most of my time is spent justifying why moving to Big Data and/or a Business Intelligence platform is a worthwhile investment


Blog Entry
TechTalk Blog - US Government Mandates Machine-Readable Government Financial Reporting Using Data Standard Like XBRL For Better Data Analytics

The law also incorporated the OPEN Government Data Act, which requires all non-sensitive government data to be made available in machine-readable formats which includes financial data using global standards like XBRL.




Blog Entry
TechTalk Blog - Need for Digital Assurance Services Grow As Structured Data (XBRL) Gains Momentum by Both Capital Markets & Governments For Better Decision Making

As regulators, investors, companies, government and analysts increasingly use XBRL data for their analyses the market need for digital assurance of the specific reported data elements using XBRL will increase – especially as data is separated from original disclosure documents and mashed into new reports and data analytic surveys. 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




Blog Entry
TechTalk Blog: The Status of the DATA Act & How it Can Revolutionize Government Reporting Using Possibly XBRL

Great background article from Nextgov about the DATA ACT and the upcoming May 9, 2015 deadline that calls on the US Treasury and the Office of Management and Budget (OMB) to adopt a government-wide data standard for all federal spending information and moving this tagged data into an Open Data format Cloud platform for public consumption and analysis


Blog Entry
TechTalk Blog -- 86% of Accounting Tasks Can Be Automated With Current Technology -- Management Accountants Need to Review New Technologies

Data creation, data governance, data analytics and Big Data according to the Accounting Today article.

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Blog Entry
TechTalk Blog: WSJ CFO Blog: XBRL for Capital Markets Transparency?

Can it happen now as new technologies and Big Data become more mainstream? As the mashing of various data sources in public and private domains accelerate for enhanced data analytics -- the need for structured, trusted, third-part verified tagged data from credible sources like the US SEC will become more significant. Financial statement data from the world’s largest corporations underscores the bedrock foundation of the capital markets. Without transparency/accountability of these entities and the ability to link and sync this data and mash with other data sources for enhanced data analytics there will continue to be perceived risk in the capital markets and “lack of confidence” by mainstream investors whose capital is critical to the creation of new jobs and opportunities