Digital Financial Reporting

Digital Financial Reporting Manifesto

The Digital Financial Reporting Manifesto proposes to the institution of accountancy and the global community of professional accountants that an option can and ought to exist to express a general purpose financial report digitally.  I would invite those who are interested to participate in the creation of the future of accounting, reporting, auditing, and analysis.  Good global standards that work are in the collective best interest of professional accountants. Both the syntax and the semantics need to work. Imagine the possibilities: algorithmic regulation; AI assisted audit; The Finance Factory; modern finance platform.

"I am enough of an artist to draw freely upon my imagination.  Imagination is more important than knowledge.  For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution."

--Albert Einstein

Here is a self guided tour of an XBRL-based digital financial report.

Here is a video that shows you a working proof of concept expert system for creating a financial report.  You can download this application and try it yourself.

Here is the open framework that I created in order to represent a digital financial report logically. That open framework is the basis for the OMG's Standard Business Report Model (SBRM) which is used by the working proof of concept application.

Here is a set of six prototypes that use a modern approach to representing a financial reporting scheme that (a) tests the open framework above, (b) proves that it works, and (c) demonstrates that all digital financial reporting schemes could share the same underlying framework.

Here are several real and prototype XBRL-based financial reports that provide human-readable information about the report.

Here is all the information from my blog organized, sumarized, and synthasized into a pretty useful resource, Intelligent XBRL-based Digital Financial Reporting.  I would invite others to create something better.

Here is Financial Report Semantics and Dynamics Theory that explains the logic of a financial report.

(Click image for larger view)

Finally, this is not just about accounting.  Think semantic spreadsheet.  See the Logical Theory Describing a Business Report.  There is a lot that business reporting can learn from financial reporting.