Digital Financial Reporting

XBRL-based structured digital financial reporting

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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due. If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.

The author of this web site assumes all responsibility for this web site and it's content. The views expressed on this web site are the views of the author and may not represent the views of his employer.

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 July 19, 2020 - July 25, 2020

Negative Attitudes and the Four Horsemen of the Data Apocalypse

As described by Robert S. Seiner in All in the Data: Negative Attitudes and the Four Horsemen of the Data Apocalypse, the four horsemen can be used to describe the negative attitudes organizations have toward data that have prevented these organizations from addressing the need to improve and gain value from their most valuable asset.

Here are those negative attitudes (the four horsemen) explained in a bit more detail:

Ignorance: The ignorance attitude can be best described as thinking that seeking value from data is not that important.
Arrogance: The arrogance attitude can be described as the thinking that management knows more than the people that own and are responsible for the data.
Obsolescence: The obsolescence attitude can be described as thinking that the present data, in the present systems, will never die and that, if it carried the organization this far, and there is no reason to change.
Power: The power attitude can best be described as the feeling that projects owned by the most influential members of management are more critical than other projects.

You can watch the presentation referred to in the article here on YouTube.com.

Posted on Sunday, July 19, 2020 at 06:58AM by

Charlie in Digital Financial Reporting |