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An introduction to FAIR data and persistent identifiers. FAIR data is data which meets the FAIR principles of findability, accessibility, interoperability, and reusability (FAIR). [1] [2] The acronym and principles were defined in a March 2016 paper in the journal Scientific Data by a consortium of scientists and organizations. [1]
Open finance operates on a set of core principles and employs key concepts that are fundamental to its functionality and aims. These principles and concepts provide the framework for the secure, efficient, and ethical exchange of financial data between consumers, third-party providers, and financial institutions.
IFRS 9 began as a joint project between IASB and the Financial Accounting Standards Board (FASB), which promulgates accounting standards in the United States. The boards published a joint discussion paper in March 2008 proposing an eventual goal of reporting all financial instruments at fair value, with all changes in fair value reported in net income (FASB) or profit and loss (IASB). [1]
Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements.
IAS 39: Financial Instruments: Recognition and Measurement was an international accounting standard which outlined the requirements for the recognition and measurement of financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
Under the AICPA's Code of Professional Ethics under Rule 203 – Accounting Principles, a member must depart from GAAP if following it would lead to a material misstatement on the financial statements, or otherwise be misleading. In the departure, the member must disclose, if practical, the reasons why compliance with the accounting principle ...
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Fair Information Practice was initially proposed and named [5] by the US Secretary's Advisory Committee on Automated Personal Data Systems in a 1973 report, Records, Computers and the Rights of Citizens, [6] issued in response to the growing use of automated data systems containing information about individuals. The central contribution of the ...