Manuscript Competition

PLEASE NOTE: The deadline for manuscript submissions has been extended one week to April 3. If you have already submitted a manuscript you have the option to refine and resubmit it by the new deadline if you choose. Please format submissions as Microsoft Word Documents and email to bapnwreg@u.washington.edu

Manuscript text should not exceed three pages of single spaced, 12 point font with one inch margins on all sides. In addition to the manuscript text, submissions should include a cover sheet (with a title, school name, and all authors' names) and a separate list of works cited using the Chicago Manual of Style Author-Date System, (see http://www.libs.uga.edu/ref/chicago.html. for guidance). Please do not include author names or school identification in the manuscript text.

Manuscript Format:
  1. Cover Sheet
    1. Title of Manuscript
    2. School Name
    3. Author(s) Name(s)
  2. Manuscript Text (No more than three pages of single spaced, 12 point font with one inch margins on all sides)
  3. Works Cited List (Chicago Manual of Style Author-Date System)


"XBRL is a language for the electronic communication of business and financial data which is set to revolutionize business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information" (xbrl.org).

We are excited to present Charles Hoffman "the father of XBRL" as a keynote speaker at this year's Beta Alpha Psi Northwest Regional Meeting. The theme of this year's meeting is financial literacy and XBRL is a language recently developed for financial reporting. The promotion of XBRL by XBRL International, the United States Securities and Exchange Commission and others coupled with increasing use of the language by large multinational corporations, such as Microsoft, is leading to a revolution in the world of financial reporting.

Attendees of Beta Alpha Psi's Northwest Regional Meeting represent new professionals set to enter the world of financial reporting. In order to succeed in this world they must understand XBRL. In order to maximize the value of Mr. Hoffman's presentation we are encouraging attendees to participate in a manuscript competition on the subject of XBRL.

The purpose of this manuscript competition is to provide attendees with an incentive to familiarize themselves with the far reaching and exciting implications of XBRL. Chapters may enter up to as many as one manuscript per representative they send to the meeting. However, the preparation of manuscripts is intended to be a collaborative effort in which all representatives from the chapter making a submission(s) have derived learning. Accordingly, each manuscript will entail a two to three page paper effectively summarizing the impact of XBRL on the world of financial reporting, and what it will mean for the careers of financial information professionals. Students are required to engage in research, exploration, and strategic thinking in order to develop a personal understanding of the objectives, benefits, and limitations of XBRL.

Prizes (TBD) will be awarded for the top three manuscripts. The author(s) of the top manuscript will be recognized by Mr. Hoffman and receive their award during his presentation at the Regional Meeting. Manuscripts will be evaluated according to the following rubric:
Submissions should explore the strategic potential of XBRL on the world of financial reporting. Since the judges already posses a strong understanding of how the technology functions, they will be looking for manuscripts that provide insightful analysis. Judges will evaluate manuscript according to achievement the following guidelines:
  • Demonstration of technical knowledge through an analysis of XBRL's effects on participants in the financial reporting chain.
  • In-depth strategic analysis regarding the potential future uses of XBRL.
  • Critical assessment of the technology's benefits and limitations.

Examples of how an understanding of XBRL is imperative for new professionals (potential leads for manuscripts):

Auditors
- XBRL is becoming a tool for Computer Assisted Auditing Techniques.
- XBRL could eliminate the need to re-key client financial information and enhance analytical procedures.

Corporate Accountants
- XBRL will allow communication between disparate systems. For example, companies with multiple General Ledger systems could use XBRL during the Consolidations process. - XBRL will centralize information from multiple systems; thereby, allowing access to current financial data on demand.

Analysts and Investors
- XBRL will allow for greater analysis of both company and industry information; thereby, enhancing transparency.

Regulatory Agencies (i.e. SEC)
- XBRL will facilitate faster assessment of pertinent financial information and potentially help identify cases of fraud.

XBRL Related Sources: