See a quick guide that explains what the XBRL format is, the Federal Energy Regulatory Commission's XBRL mandate, and what energy companies and utilities …
How advanced is your global statutory reporting cycle? Use this maturity model to assess current capabilities and conceptualise the stages along the way to getting to the ideal state.
Follow these tips to improve your global statutory reporting process: 1) Move away from traditional word processing spreadsheets and shift to a secure cloud reporting platform. 2) Centralize your entity reporting process to enable consistency, increase oversight, and improve team collaboration. 3) Save time by connecting data from your system of record directly to your system of work. 4) Connect your data, numbers, and narrative to ensure they are always up to date throughout financial statements and disclosures across different entities. 5) Have a smooth audit process by using a connected platform that makes record-keeping transparent and accurate.
Best practices for compliance reporting and how technology can help
5 best practices for preparing financial data
Regulation will not be simplified any time soon, so businesses need to raise the bar to ensure that their processes and technology enablers are robust and allow them to report with confidence.
Finance leaders can take steps along the modernization journey to deliver tangible results in months, not years
Key Takeaways - Performance reports and ad hoc analysis are critical to developing company strategies - securing finance's role as a business partner - Finance needs to be able to access, enrich, and apply data from across the enterprise in order to support informed decision-making - Modern tools for data preparation enable finance to create information-rich reports faster, easier, and on a repeatable basis