Whether data comes through more traditional legacy systems or from a smart refrigerator or vending machine, the data challenges are the same or similar, including those that impact accounting
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Just came back from an accounting conference in London about the United Nation’s Sustainability Development Goals...[6] [7] (WIKIPEDIA) What does all this mean for sustainability accounting?
Great article in Accounting Today by Michael Cohen (Technology Reporter) about the United States Securities and Exchange Commission looking more closely at XBRL data tagging of financial statement & footnotes of public company disclosures more closely now
She has worked tirelessly behind the scenes to gain support and adoption of XBRL global data standard by the accounting profession to support the management accountant
The same is now being applied to food services – but what about medical services or other professional services liking accounting, management consulting, public relations, auditing, public service not is use?
SO WHY NOT MOVE STRUCTURED DATA TO MAINSTREAM ACCOUNTING, TAX, AUDITING AND BUSINESS INFORMATION? -- moving the use of structured data beyond what public companies are disclosing to the capital markets on the Internet t o other business areas in the world of management accounting? How can the management accounting profession become more relevant as we continue to move into the digital age?
Several of these government agencies - like the Federal Reserve - use different accounting standards for financial reporting from other federal agencies
US GAAP does not include non-financial accounting metrics. Key question in the United States: will the capital markets stay relevant to meeting both the needs of investors and the public if this non-financial information is not disclosed and/or the accounting standard bodies don’t recognize non-financial data from an accounting perspective?
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