Maryland Association of CPAs makes case for practical benefits of technology. Featured in Journal of Accountancy 125th Anniversary edition, June, 2012 penned by our Chief Communications Officer. Bill Sheridan
Big-data analytics is the hot topic of 2012, with many predicting that the future success of organisations – big or small, public or private – will depend on their ability to capture, analyse and gain insights from it.
SALISBURY -- For Salisbury University senior Thomas Hood, winning the $5,000 top prize in the annual Bernstein Award competition stemmed from his work helping a nonprofit utilize data software in ways that cut costs and improved efficiency.
Transparency & Accountability and our Government - an idea whose time has come!
This is the latest venture from our friend, Hudson Hollister, former general counsel to the US House Government Oversight Committee (Issa). Hudson was at the epicenter of applying structured data and transparency concepts to the federal government. His work with the DATA Act and other key legislative issues is critical to getting a handle on government accountability. We (Maryland Association of CPAs) will be joining this group and helping to move ths iagenda forward.
Hudson will be speaking at MACPA's Innovation Summit on June 27th at Martin's West in Baltimore, Maryland - info http://cpa.tc/2012summit
The Maryland Association of Certified Public Accountants used Altova's MapForce graphical mapping tool and FlowForce Server to automate XBRL data transformation, collection and processing. Read how they did it.
Proponents of XBRL have been touting its potential for years. Now it is emerging as one of the most significant technology tools impacting every sector of business reporting, government, and even non-profits.
I don't usually look to accountants as a source of cutting-edge business innovation. After all, we want our accountants to be firmly rooted in reality and not prone to flights of fancy. But , no foolin', the Maryland Association of Certified Public Accountants (MACPA) is a global pioneer in an innovative reporting system ideally matched to today's challenges facing business and government.If yours is a publicly-traded company, you might have heard about XBRL, the eXtensible Business Reporting Language, because most of them must now file SEC reports using XBRL "tags" ( a system of "information about information" inserted to bracket a piece of data and give it context. For example, who knows what 6 refers to when seen by itself, but if we see it bracketed by an XBRL tag, 6 we know instantly). Or, if you're with a bank, you may know that banks have had to report to the FDIC using XBRL.
Score one for transparency. The U.S. House of Representatives has unanimously passed the Digital Accountability and Transparency Act, or DATA Act, an important piece of legislation that would bring greater transparency and efficiency to federal spending data.
The Data Transparency Coalition is a small but growing collection of private companies that want the federal government to establish a standard system by which agencies categorize similar sets of data.
Microsoft’s Bob Laux discusses the efforts to Build An Internal Integrated Report and shares his goals for more communicative reporting. This is the future of financial reporting and really features an integrated appraoch to disclosure. Many MACPA members will remember Bob presenting at several of our conferences. I enjoyed working with him on EBR (Enhanced Business Reporting) with the AICPA. here he is years later, and making progress! Worth a read...
We will be asking Bob and lots of other thought leaders to join us in our MACPA Innovation Summit on June 27th in Baltimore to move this conversation forward - join us - http://cpa.tc/2012summit
Op-ed from author and thought leader in Government 2.0, W. David Stephenson featuring our work (Maryland Association of CPAs) with XBRL and non-profits and small business. David is author of a terrific book, Data Dynamite and will be moderating a session on governmant transparency and accountability at our MACPA Innovation Summit on June 27th in Baltimore, MD - detail http://cpa.tc/2012summit