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 from March 4, 2018 - March 10, 2018
State of Florida to Require Cities, Counties, and Special Districts to Report Using XBRL
The state of Florida is passing legislation that would require about 1,600 cities, counties, and special districts in that state to report using XBRL. Florida is likely to be the first of many states that ultimately leverage the functionality of XBRL to improve their reporting systems.
In the United States there are about 90,000 state and local governmental entities.
I don't understand the process in the state of Florida; but what I can say is that the bill passed the House, it passed the Senate unanimously, and it is likely to be signed into law by the governor. I guess this will play out over the next several days or weeks.
Look at the legislation lines 319 to 350 (on the left hand side of the PDF). You can track the history of the legistlation here.
Reck and Snow paper:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2474922
Charlie
in Digital Financial Reporting
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