Our July meeting is set and scheduled for Thursday July 18th from 5:30 pm - 7:00 pm. The presentation will be given by James Deiotte and Raymond Pettit, and the topic will be Accounting for Big Data.
Accounting for ‘Big Data’
Historically accountants, trained to gather, organize, and analyze financial information, have worked closely with providers of information pertaining to yesterday’s transactions.
Today, immense amounts of new data sources are making the key role of accountants more complex. Although information is more readily accessible because of technology, the ability to sift, analyze and draw conclusions requires greater support from data scientists.
Accountants, largely responsible for many of the most sensitive controls of a company, will find that managing big data brings great opportunities and possibly even greater risks still evolving around the world.
Even the mere definition of what a ‘digital asset’ is confounds most. Accounting for the acquisition, storage, use and disposal of big data will impact the measured performance of companies; newer ways of evaluating investment risks, including sustainability need to be addressed globally.
Presentation Focus
There is no debate on the importance of big data. Jim Deiotte and Ray Pettit will explore the significance of data, especially as technology increases the sources of data. Accountants will need to find new ways to measure this complex asset and its underlying evolving liabilities including how this impacts corporate valuations.
Jim and Ray will focus on the following topics:
- Who has used ‘big data’ the most so far?
- Why is identifying what digital assets are so difficult?
- How will companies Identify, accumulate and analyze data in the future?
- How will companies measure, value and protect data?
- Can data really impact enterprise value?
- How do you measure risks that are not anchored in current law today?
James Deiotte, CPA, CMA, CIPP, JD, MBA
Jim is a retired partner of Ernst & Young (EY) and has just joined the University of California, San Diego |Rady School of Management as an Executive Director in the Master of Professional Accountancy (MPAc) Program.
Jim was an ambassador for EY working closely with many of the largest companies in the world, various US governmental agencies, including the US State Department, Commercial Services and Embassies along with colleagues covering well over 70 countries throughout his career.
Jim served as EY’s Regional Tax Leader of Africa and was on EY’s EMEIA and Global Tax Leadership teams. Jim was responsible for driving the localization of capabilities and independence of EY tax operations in Sub-Saharan Africa, covering more than 30 countries.
Raymond Pettit, PhD, MS, BM
Raymond Pettit is the Executive Director of the University of California, San Diego |Rady School of Management Master of Science in Business Analytics.
Ray has achieved an industry leadership position focused on strategic, sophisticated analytics to drive marketing resource allocation, ROI, and cross-media optimization over a 22-year career in business. Pettit has consulted across the board on short and long term client projects, and utilized the skills of brand equity measurement, ad impact measurement, and the ability to understand, apply, and ‘make real’ a variety of multivariate data analysis outputs.
Pettit received his doctoral degree from the University of Illinois at Urbana-Champaign and has been a Market Research Executive and Consultant for a number of US and European firms, and a Statistical, Data Mining, and Market Research Training Consultant for SPSS, Inc. He has also served as an adjunct professor at Baruch College – Zicklin School of Business, CUNY teaching classes on Internet Marketing.
Agenda:
5:30 - Refreshments & Network,
6:00 – 7:00 Speakers
There is no cost for this event. Sponsored by EY and Aston-Carter.
Parking (Map below):
Ernst & Young has a parking garage that is $1.50 for each 15 minutes.
You may park in Specialty's Cafe & Bakery at 4330 La Jolla Village Dr, San Diego, CA 92122. You can get your ticket validated if you purchase something. Please be aware they close at 5:30 PM
You may park for free on Executive Drive or Executive Way. Parking is limited, but generally available on those streets, so you may need to allow time to walk a block or two.