Blog Purpose

The purpose of this blog is to identify and examine (i) ways of improving financial reporting standards (both international and national) and (ii) the way that those standards are developed.

Contributions are welcome from anyone with an interest in the subject.  They should be submitted to mail@21cfrs.com.

The hope is to engender and encourage novel solutions.  But the first part of finding solutions has to be defining problems.  There is an old engineering adage that if you can clearly define the problem you are 80% of the way to finding a solution.  This holds true in accountancy too.

Some blog posts will just identify problems.  Such posts will hopefully inspire others to contribute ideas for possible solutions.

Also included in this blog is a 2015 pamphlet considering how financial reporting could be brought into the 21^st century.  Many of those ideas still hold good today but need to be brought up to date taking into account developments over the last decade.  Reading this pamphlet may spark some ideas that posters to this blog can expand upon.

Posting of divergent views is encouraged.  There is unlikely to be one perfectly right answer.  All solutions are likely to come with trade offs.  The only requirement is that contributors must be respectful of opinions expressed by others.