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Re: IFRS & XBRL

by
David Arnold
- 08/15/2014 10:09:23
:) Thanks! I wasn't aware. This seems to be a good start/foundation contributed by Vauxoo. I wonder however, why it never was a topic in the recent accounting discussions. It will become important and is a future topic. In the accounting domain, especially, if looking at XBRL, there is potential for putting some additional competitive edge on Odoo. Accountants are an important target in the buying center decision making porcess (for the ERP part). Probably they are the key person in the buying center.

How can the ecosystem benefit from those standards?

- IFRS provides standardisation in the accounting domain on an international scale, already 80 jursidiction have adopted it or will adopt it in the near future.
- XBRL taxonomy provides autmatization and efficient financial reporting processes, a potential unique selling position, if correctly identified.

So are we still a bit sleepy about those two acronyms?