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September 16, 2013
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Record to Report Takes Center Stage

Record to Report Takes Center Stage Recently, PwC released its “Close Cycle Report for 2013” – Rankings for the 2013 R2R External Reporting Process.  The results showed a general trend towards the acceleration of the group reporting cycle with many companies having regained their composure following the delays and uncertainty surrounding the 2007/8 financial crises....

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September 12, 2013
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XBRL Cage Match Round 1:  Congressman Issa vs. SEC Chair White

Timing is everything, and House Oversight Committee Chairman Darrell Issa (R-Calif.) sure seems to have that sorted out.  On the day that over 400 people (including Issa himself) attended the “Data Transparency 2013” conference in Washington DC focused on the DATA Act, Open Data Policy, and SEC Reporting, Issa throws down to the SEC about...

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September 4, 2013
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Continuous Control is Essential: Why is it Still Manual?

In the KPMG paper Continuous Auditing and Continuous Monitoring (CA/CM): The Current Status and the Road Ahead, KPMG highlights the board and regulatory compliance pressures, cost and efficiency considerations, and the business risks emerging that are having a lens focused on Internal Control teams. The CA/CM discussion has been around since the early 90s and...

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August 27, 2013
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The Buzz Abounds Around “GBS” – Global Business Services is the New “It” Term for SSC’s

Now I love a buzz term as much as anyone (no surprise as I work in Marketing) but the latest term on the rise is the acronym for Global Business Services – “GBS.” I know you are thinking… not another one! The fact is it’s much quicker to write brochures, respond to RFPs and keep...

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July 19, 2013
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Blog – Inline Support at the SEC: Just a Matter of (2014) Time

Taking a page from the “let’s not make Friday the only fun day of the week” playbook, the SEC yesterday released a request for proposal (RFP) regarding introducing support of Inline XBRL as part of its Interactive Data mandate.  Details of the RFP can be found on FedBizOpps with tactical highlights being as follows: Responses...

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July 11, 2013
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How to become a Top Performing Finance Group in Record to Report

(ENLARGE INFOGRAPHIC)  (EMBED INFOGRAPHIC) At first sight, the Record-to-Report (R2R) cycle may look like a stable process. But observers of financial reporting over the last decade know that it is actually in a constant state of flux, buffeted by heavy regulation, accounting standards, changing requirements and technical limitations. This has encouraged businesses to acquire so...

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July 1, 2013
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The Perfect Reconciliation Audit in 4 Easy Steps – Accounting Best Practices

With a perfect reconciliation audit you have the tools and safety net to stay compliant with even the strictest accounting regulation. The International Financial Reporting Standards are converging on the toughest regulatory act: the American Sarbanes-Oxley (SOX) Act of 2002. SOX, requires a company to have internal control mechanisms in place to catch any potential...

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July 1, 2013
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“Where’s the Beef?” in SEC XBRL Comment Letters?

Okay, yes, I’m a burger fan, and yes I’m from Wendy’s back yard in Akron, OH (just a trip up I-71 from the birthplace of the Frosty in Columbus, OH).  So it should come as no surprise that it’s with great fondness that I remember back to the Wendy’s marketing campaign in the mid-80’s with...

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June 25, 2013
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Mobile is a Game-Changer for the Record to Report Landscape

In the last couple of years there has been a dramatic shift in the way that individuals access the Internet. Desktop computing has given way to laptops, tablets and mobile devices. In fact the transition has been so dramatic that for the first time this year there are more mobile devices in the world than...

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June 13, 2013
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Avoid The Hidden Bear Trap – Benchmarks for Managing Interfaces and Data Complexity

Wrapping up this blog series, this is my fourth blog on Benchmarking as it relates to the Record-to-Report process. Managing Interfaces Interfaces between local ERP systems and the corporate reporting pack represent a hidden ‘bear trap’ for the unwary. Typically, automatic interfaces are managed by ETL (Extract, Transform and Load) tools, often under the supervision...

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