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Items tagged with "Accounting"

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AccountingBenchmarkingIBORStandards

IFRS Standards Amended in Response to IBOR Reform

By Editor

The International Accounting Standards Board (IASB) has published proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the current reforms of interest rate benchmarks such as interbank offer rates (IBORs). After a series of scandals, the once-dominant LIBOR benchmark is being abandoned in favour […]

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AccountingAuditNon-Financial

Auditing Non-Financial Data

By Editor

For audit and accounting to build truly useful advisory services, they need to focus on more than just financial data, suggests a blogpost on the Accountancy Europe site. Wesley Shulte, from Finext, argues that moving beyond financial data will allow auditors and accountants to create valuable assessments for companies – for example, by auditing human […]

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News Item
AccountingAI

The Danish Business Authority

By Editor

The Danish Business Authority, Erhvervsstyrelsen, is exploring cutting edge ways to apply a number of machine learning techniques to predict possible corporate failures. It is using the XBRL financial statements that it collects from  the 240,000 or so private companies that operate in Denmark. The goal is to be able to provide early warning information to entrepreneurs […]

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Post
Accountinge-invoicingEstoniaTax

Estonia to Shed Paper with Reporting 3.0

By Dave Nitchman

An in-depth look at Reporting 3.0 in Estonia from a presentation by Margus Tammeraja, Chairman of the Board at the Association of Estonian Accountants at the Real Time Economy Conference in Finland.

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Post
Accounting

Industry Update – The future of data in the accounting industry

By Dave Nitchman

XBRL and structured data reporting is just one of the many ways that accounting professionals have had to adapt their approach to data. A new report from the IMA and ACCA – two global accounting professional organisations –   examines current and future trends in issues such as data management, governance and the data lifecycle. Read the report.

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Event
AccountingAutomationBlockchainEuropeFinlandXII News

Real Time Economy Conference

26th May, 2016

XBRL Finland and Aalto University are once again hosting Innovations in Europe, a conference aimed at advancing the development and use of real-time technologies in the area of financial processes.

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News Item
AccountingResearchUnited States

Measuring Accounting Complexity With XBRL

By Dave Nitchman

Using recent XBRL filings, Rani Hoitash from Bentley University and Udi Hoitash from Northeastern University attempt to prove that “high volume and more unique company-specific accounting information” as measured by the number of US GAAP XBRL Taxonomy tags reported in company annual filings, along with the number of customized XBRL tags, leads to poor financial reporting quality. Read the paper.

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