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Yesterday was the second annual BarCampBank San Francisco. There was a great turn out and spirited conversation about banks and innovation, Web 2.0 and social media, open transactional databases as a foundation for innovation, open source financial modeling for Wall Street and other investors, security as a product, mobile banking, and Open Money. Read on [...]
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At BI for Business People Tom Hudock describes my Internet dream:
Here's an idea for those who can navigate Web 2.0, mashup, and BI. The SEC is requesting company filings via XBRL and making them freely available online. What if BI was applied to analyze executive salaries across companies and industries. Or compare financial costs of [...]
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One of the key success factors in introducing wide scale change is to involve impacted stakeholders early and often. Open discussion of challenges and obstacles fosters collaboration to resolve issues. The SEC is welcoming criticism from financial managers which bodes well for it's XBRL effort.
[excerpted from CFO.com] The commission hopes to use such feedback to [...]
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The latest Treasury & Risk has a brief write up on two new XBRL tools from Enterprise Engineering, Inc. The first facilitates sharing information within an enterprise and with external parties (it maps data stored in separate systems and proprietary formats into XBRL so that it is easy to share for reporting and analysis). But [...]
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The SEC has completed the development of data tags for GAAP, a major milestone in moving financial reporting toward interactive XBRL format. The taxonomy includes 12,000 different data elements. The SEC will now focus on developing recommendations as to when use of the new format will be mandated, although a recommendation is not expected until [...]
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The SEC's internative data pilot is gaining traction – particularly after the Roundtable on March 19th. The new interactive platform, based on XBRL formatted filings from 36 companies participating in the pilot, is designed to replace the 20 year old Edgar database of SEC filings.
In the four months of the pilot over 10,000 visits [...]
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This month, Exchange, the monthly magazine of the Association of Financial Professionals (AFP), published a handy A to Z glossary of payment acronyms. Some are obvious, some were a stretch (K and Q), and you may already be familiar with most of these terms, but you just might learn something new:
Payment Acronyms, A-Z
ACH [...]
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Types of Process Improvement
Financial process improvement initiatives touch all aspects of transaction processing and reporting.
TYPICAL FINANCE PROCESS IMPROVEMENT AREAS
Working Capital Management
Order-to-Cash
Procure-to-Pay
Payroll
Risk Management enhancements
Business Intelligence /Corporate Performance Management
Regulatory compliance & efforts to automate compliance
Enhanced reporting via XBRL
Others
Increasing Reliance on Technology
Over the years, finance has become increasingly reliant on technology to streamline business functions and consolidate [...]
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CFO.com has consolidated its XBRL coverage in a special report
The SEC has poured $54 million into a new interactive reporting tool to
replace the retiring Edgar. Now the Big Four say it is time to scrap
quarterly reports in favor of real-time (read: daily) financial
reporting. If the phrase "XBRL" put you to sleep in the past, it's [...]
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The SEC announced Monday that it is planning a $53 million upgrade of its EDGAR database. The overhaul will rely on data tagging via XBRL to make it easier for investors, analysts, and the SEC to search for and compare data.
SEC chief Christopher Cox has ambitious plans to overhaul the entire financial reporting system [...]
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GLENBROOK PAYMENTS BOOT CAMPS
October 6-7, 2010, Santa Clara, CA
October 27-28, 2010, New York, NY
December 8-9, 2010, Santa Clara, CA
Custom Private Payments Workshops
Headlines from Payments News
