We highly recommend this online presentation that quickly covers the entire history of accounting-from the double entry method used by Venetian merchants to the predicted adoption of international accounting standards. First presented at the 16th Annual XBRL conference, the downloadable presentation by Neal J. Hannon gives the foundation and context for the latest technological changes in how businesses report their financial performance.
“No new technology will be right unless the basic accounting is right,” says Hannon. The presentation starts with the structure and nature of accounting and then fast forwards the viewer through the early global adoption of double-entry accounting, to the evolution of national differences, to U.S. mandates for financial disclosures and the creation of the SEC for oversight, to the proliferation of incompatible accounting software, to why GAAP drives computers crazy, to Sarbanes-Oxley, to today’s solutions of eXtensible Business Reporting Language and to tomorrow’s IFRS international standards.
We completely agree with Mr. Hannon that regardless of the technology, it the underlying accounting that matters most. To read the full presentation Click here and download the first tutorial, which is Hannon’s presentation titled “It’s All About The Accounting.”
Recent Comments