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April 23, 2013
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Why Automate the Record–to–Report (R2R) Process?

Recent research shows there are many reasons but first and foremost is: REDUCE COSTS The cost of finance is increasing due to the regulatory mandates that are being put in place globally, not just in the SEC filing space (see our XBRL International Blog post by Rob Blake following last week’s XBRL International conference in...

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March 14, 2013
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DATA Act and OFR… Modern Day Transcontinental Railroads?

The current state of XBRL in the U.S. reminds me a bit of the early days of the railroad industry.  Much like the 1840’s and 1850’s saw the local and quasi-regional build-up of train infrastructure, broad-base use of XBRL is pretty localized within the U.S. to the Securities and Exchange Commission (SEC) and Federal Deposit...

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February 25, 2013
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Wonderful (but Dangerous): Excel Spreadsheet Reconciliations

We all love Excel, especially in Financial Departments. Spreadsheets may seem flexible in tracking your accounts data and completing your month-end close process. – But do you really know the damage and cost Excel can cause in the month-end close process, to you and your team?

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January 29, 2013
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The Hackett Group’s Key Issues in 2013 for Global 1,000 Corporations

Recent findings by the Hackett Group in its 2013 Key Issues Study suggests that operating margin takes precedence over revenue growth in leading Global 1000 corporations this year.  To accomplish this, Hackett claims that business support services organizations must increase operational agility and flexibility in order to reduce costs and achieve margin goals. The report...

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January 8, 2013
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The Freon Effect and The XBRL Mandate

What makes a mandate good?  Yeah, I know, using the word “mandate” and “good” in the same sentence seems counter-intuitive.  Unless, of course, you are freon.  Now’s there’s a mandate on it’s way to success.  Starting back in the late 1980’s and continuing on until 2020, a global effort was put in motion to eradicate...

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December 10, 2012
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Getting What You Paid for – Reconciling Supplier Invoices

One of the main stresses a financial team will face comes from reconciling supplier invoices with purchase orders, delivery notes and actual inventory. Huge volumes of invoices pour in every month and each vendor or supplier usually wants paying immediately! Supplier reconciliation is, however, a rather important process which ensures your business gets what it...

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November 30, 2012
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XBRL Mandate to End at SEC?

If one were to believe all the recent headlines, it sure seems like this could be in play:  CFOs grow weary of XBRL.  Controllers find XBRL worthless and costly. Schapiro to step down as SEC Chair.  High Priests of XBRL told to stop touting XBRL as the end all/be all (See LinkedIn Group “XBRL Matters”...

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September 14, 2012
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FINAL UPDATE – XBRL US National Conference 2012: Day 2 Recap

While the Chuggin’ Monkey and Dizzy Rooster did their part to fill conference attendees’ heads with songs in the key of X, Day 2 focused primarily on discussing topics related to preparers and the end-game focus of high-quality, best practice-driven XBRL submissions to the SEC.  Key take-aways from the day included the following: SWEAT THE...

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September 12, 2012
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LIVE UPDATE: XBRL US National Conference 2012: Day 1 Recap

Austin, TX:  Home to 6th Avenue, the live music capital of the world, and for two days…XBRL experts and enthused financial disclosure professionals from around the US. The event focuses on both preparers (companies, full service providers) and consumers (government regulators, analysts) of XBRL by providing both best practice and technology updates relevant to the...

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September 7, 2012
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Exodus of SEC XBRL (Cheer) Leaders Continues

The past 18 months have seen the exodus of a number of the original SEC Office of Interactive Disclosure (OID) team members: David Blaszkowsky to the U.S. Treasury, Jeff Naumann to Deloitte, Ted Uehlinger to PwC and Tony Mealey to the PCAOB. For those that don’t remember, OID was the name given to the initial...

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