The general purpose financial report is getting a face lift, being updated for the 21st century.
The specific pieces necessary to enable the digital general purpose financial report will not spring into existence by accident. The pieces must be created with high intension, specific conscious effort, well-thought-out direction, making specific conscious choices, and skillful execution by professionals with resolve to achieve the goal.
To achieve this goal will take the effort of accounting professionals, financial analysts, software engineers, knowledge engineers, and others who come from different worlds but who must effectively communicate to decide on what the right goal is and collaborate to achieve that goal.
The document Important Issues, Considerations, and Opportunities for Accounting Professionals in Creating the Digital Financial Report summarizes important information accounting professionals and other business professionals need to understand to succeed in this undertaking.