The UK’s Financial Reporting Council (FRC) has published a thought-leadership piece, A Matter of Principles: The Future of Corporate Reporting.[1] Does it portray the future of corporate reporting as you see it? Comments are due by February 5, 2021.
Before I start in my thoughts on the paper here, I wanted to tell you (remind you) of a vision of the future that has stuck with me for a very long time. It was first presented to me at an AICPA technology conference by perennial keynote speaker Dana R. (Rick) Richardson, who strongly contributed to my own presentation style.
In 1987, Apple Inc. produced a video[2] about the interactive, personal future of computers, known as the “Knowledge Navigator.” Thirty-three years later, it is fascinating to compare and contrast the vision as detailed in the epilogue to John Sculley’s Odyssey: Pepsi to Apple with Apple’s product direction and the rest of the industry.