BLOG: Digital Financial Reporting
This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.
Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.
Entries in integrated reporting (2)
Integrated Reporting
Integrated reporting seems to be gaining more and more traction, particularly in Europe. One major proponent of integrated reporting is the International Integrated Reporting Council (IIRC). The IIRC states their purpose on their web site as:
The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession and NGOs. Together, this coalition shares the view that communication about businesses’ value creation should be the next step in the evolution of corporate reporting.
As I understand it, the IIRC is in the process of getting an XBRL taxonomy acknowledged by XBRL International. It seems that the XBRL taxonomy has to do with the "integrated scorecard".
Here is additional information related to integrated reporting:
- Executive overview. This overview which is about 18 pages long explains integrated reporting very well.
- Integrated Reporting: The Integrated Scoreboard (IS-FESG) and its XBRL Taxonomy. This 128 page document provides additional details and explains the XBRL taxonomy being created.
- Integrated Reporting Taxonomy: Extending IFRS & COREP. This is a presentation made at XBRL Europe recently.
Charlie
in Digital Financial Reporting, integrated reporting
|
Post a Comment
| 
Email
| 
Print
Integrated Reporting
Integrated reporting is defined on Wikipedia as:
Integrated reporting refers to a holistic and integrated representation of a company’s performance in terms of both financial and non-financial results.
The vision of integrated reporting is described on the http://www.integratedreporting.org/ web site.
One Report: Integrated Reporting for a Sustainable Strategy is a book written by Robert G. Eccles and Michael Krzus which explains in detail what integrated reporting is all about. Chapter 3 of the book talks about XBRL's role in integrated reporting.
It seems like things such as enhanced business reporting, triple bottom line, sustainability reporting, ESG, and such are all being rolled into the over-arching concept of integrated reporting.
######################
Charlie
in General Information, XBRL General Information, integrated reporting
|
Post a Comment
| Email
| Print
