Rivet Software, a Denver-based company pioneering the future of global financial communications, announced that Patrick Quinlan has been promoted from President to Chief Executive Officer. Quinlan replaces Mike Rohan, who remains as Chairman, effective immediately.
Patrick Quinlan is the President of Rivet Software, a Denver, Colorado-based company that is pioneering the future of global financial communications. Patrick comes to Rivet as a business executive with a proven track record of startup development, funding strategies, and capital investment success. He brings experience in the small and emerging business space and is skilled in executing strategic planning, performing market analysis, and guiding new product development. As the CEO of several successful startups and as a consultant, Patrick has helped many companies build and manage effective sales teams, meet revenue goals, and achieve peak performance. He graduated from the University of Kansas and holds an MBA from Regis University.
The advancement of eXtensive Business Reporting Language (“XBRL”) technology along with the three-wave SEC mandate for submitting financial information as interactive data has created a tsunami for external reporting professionals at public companies. The first year interactive data SEC filing requirement has been commonly referred to as block tagging. This means that in addition to tagging the body of the financial statements the individual footnotes are each block tagged with an appropriate element from the company’s chosen XBRL taxonomy. The second year interactive data SEC filing requirement includes all the first year requirements, but then requires the additional three-levels of detail tagging for the financial statement footnotes.
When I first read the post The Economic and Regulatory Shadow by accounting professor David Albrecht, I thought I was reading a treatment for a movie.
The results are in from the November 2009 survey of XBRL Preparedness by the AICPA/XBRL US. The good news is that almost half the respondents (45%) said that preparing their XBRL filings was easier second time around.
If you are a newly hired financial reporting specialist at Megacorp Inc. you might soon feel that you’re on a production line, a constantly cranking supply chain responding to a never ending demand chain.
The process of preparing an interactive filing for mutual fund risk/return summary is not that different from preparing an interactive filing for a corporate financial report.
Some of the most intriguing functions in our new Controller package, are the data integrators and adapters. What they do is enable you to automatically transfer data early in the financial reporting process.
In a recent blog post, Reinventing the Business Intelligence Process, Michael Vizard highlights the importance of adding context to data as it is collected rather than after the fact. And preferably in a reasonably automated way.
The S.E.C recently updated its staff observations from their initial review of XBRL filings here.The observations address a number of issues relating to the body of filings examined by S.E.C. staff
