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Institute of Management Accountants Support for XBRL

Institute of Management Accountants Support for XBRL. Neal J. Hannon, CMA IMA Board of Directors University of Hartford. Agenda. Who is the IMA? Support for Accountants Worldwide Initiatives for Re-balancing the Profession Support for Technology and XBRL. Who is the IMA?. Founded in 1919

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Institute of Management Accountants Support for XBRL

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  1. Institute of Management AccountantsSupport for XBRL Neal J. Hannon, CMA IMA Board of Directors University of Hartford

  2. Agenda • Who is the IMA? • Support for Accountants Worldwide • Initiatives for Re-balancing the Profession • Support for Technology and XBRL

  3. Who is the IMA? • Founded in 1919 • Mission: To provide a dynamic forum for management finance and accounting professionals to develop and advance their careers through certification, research and practice development, education, networking, and the advocacy of the highest ethical and professional practices. • Vision: The world’s leading association for management accounting and finance professionals. • Approximately 65,000 Members • 83% U.S. • 17% International

  4. Agenda • Who is the IMA? • Support for Accountants Worldwide • Initiatives for Re-balancing the Profession • Support for Technology and XBRL

  5. There are many critical roles in the world of Accountancy, but …. The Externally-focused role is not the only game in town! • External Accounting • Auditors • Assurance Services • Tax Accountants Environment Regulators/ Analysts/ Investors External Reporting Financial / Taxes < 15% Value Creating Operations Decision support, Planning and Control • Internal Accounting • Everyone else Suppliers Customers input output > 85%

  6. The Business Information Supply Chain Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Processes XBRL-GL XBRL-FR XBRL XBRL Companies Financial Publishers and Data Aggregators Investors Central Banks Participants Trading Partners Auditors Regulators Management Accountants Software Vendors

  7. The Business Information Supply Chain Business Operations Internal Financial Reporting External Financial Reporting Investment, Lending, Regulation Economic Policymaking Processes XBRL-GL XBRL-FR XBRL Companies: Management Accountants Financial Publishers and Data Aggregators Investors Central Banks Management Accountants Participants Trading Partners Auditors Regulators Software Vendors

  8. International Demographics Germany Employment in Financial, renting and business activities - 6,500,000 Accounting/Controlling university graduates per year – 19,000

  9. Agenda • Who is the IMA? • Support for Accountants Worldwide • Initiatives for Re-balancing the Profession • Support for Technology and XBRL

  10. International Demographics India Indian Cost and Works Accountant membership – 25,000 Chartered Accountants of India Membership – 124,000 Accounting university graduates per year – 55,000 University graduates per year – 2,500,000

  11. International Demographics China – 2003 statistics Total employment – 744 million Employment at state owned enterprises – 69 million Employment at urban private enterprises – 43 million University students – 19 million Number of people who are attending non-degree adult education courses – 58 million Employees receiving job related training while employed – 34 million

  12. International Demographics China – 2003 statistics University professional graduates – 9,600,000 Professional support staff employed – 97,000,000 MBA’s per year – 47,000 Young finance and accounting professionals – 200,000 CPA’s in public practice – 60,000 CICPA Membership – 130,000 Government estimate of required accountants – 300,000 CPA exams written per year – 500,000

  13. Agenda • Who is the IMA? • Support for Accountants Worldwide • Initiatives for Re-balancing the Profession • Support for Technology and XBRL

  14. IMA’s Role in New Accountancy Landscape • IMA is “rebalancing” the accountancy profession • Developing significant group professionals inside organizations who are properly qualified to drive ethical and responsible corporate governance, and decision support, planning, and control over value-creating operations • CMA and CFM Certification Programs • Professional Development • Research • Students/Academics

  15. Ongoing Research Projects Research Driven Partnerships • CFO Panel to drive innovation - Horvath Partnership • Enterprise Risk Management - Paisley • Resource Consumption Accounting – RCAInfo.com • XBRL Consortium Applied Research • GPK in America Research - Krumwiede • GPK & ABC Comparative - Friedl • Beyond Budgeting – Libby and Lindsay • China Haier case study – Lin. • China vs Global costing methods – Horvath IPRI, Biddle & China MoC

  16. Agenda • Who is the IMA? • Support for Accountants Worldwide • Initiatives for Re-balancing the Profession • Support for Technology and XBRL

  17. XBRL Support • Strategic Finance Magazine • Over 60 articles and columns on XBRL since 2000. • XBRL Webinars • FDIC November 2005 • XBRL-GL July 2006 • Future XBRL Training Session Support • IMA Conferences with XBRL Featured Speakers • Wayne Harding, Sam Mok in Las Vegas June 2006 • Kurt Ramin, Liv Watson, Eric Cohen in Dubai May 2006 • Sponsor for Global XBRL Student Competition

  18. Contact Neal J. Hannon, CMA hannon@hartford.edu

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