XBRL-based Digital Financial Reporting

Think of the process used for creating a financial report.  Is there, perhaps, a way to improve that process?  Is there a completely new paradigm that could be used to create financial reports?  What I have found is that people tend to believe that the way they do something is the way they MUST do that thing.  As is said, "If it isn't broken, then don't fix it." Well, is the process of creating financial reports broken?  Is audit broken?  Is financial analysis broken?  Here is some information to consider: Problems caused by silos Problems caused by documents Problems caused by semantics Problems caused by spreadsheets I will look at each of those four bullet points in order. Problems caused by silos The first problem I see is the problem caused by silos. The problem is that information used to create financial reports, perform audits, perform financial analysis tends to be created by a number of different parties, the information tends to exist in its own little silo

The Seattle Method is a tested, proven, industrial strength, good practices-based, standards-based pragmatic approach to creating provably high quality XBRL-based digital information. A new version of the Seattle Method documentation has been made available. This new version provides the following enhancements: Added a few missing sections. References to the most current examples and prototypes. Incorporates feedback received from others. New version of Auditchain Luca provided. Production version on a significantly more powerful server. Enhanced version of Essentials of XBRL-based Digital Financial Reporting that uses Platinum examples and test cases. What I am realizing is that the ideas above are broader than just accountancy; pretty much every area of knowledge has similar issues related to the effective exchange of information and the quality of that information. Additional Information: PLATINUM Use Cases, Test Cases, Conformance Suite PROOF Auditchain Luca Production Version E