Proposal for community accepted reporting standards

Hi everyone,

I have just joined this forum and several discord servers, so I don’t know a lot about projects out there and this may be a repeating someone else’s idea. In such a case, I apologize upfront.

Now to the proposal. What do you think about creating DAO that will be developing standardized financial reporting standards that will be voted for and approved by the community? Other DAOs would accept them voluntary if they think it may be helpful for their members to better understand how the particular DAO is functioning over a period of time. I assume a lot of this information can be derived from the underlying blockchain records, but not everyone have skills, time, or capacity to do it. It may also help to validate the legibility of a particular web space maybe? Have no idea. I’m an accountant with a very limited knowledge of the technology but I’m learning:) please share your thoughts on this:)

Thanks for adding this @andrewfowl. @Ricktik6 currently has a finance proposal up which may be of interest and which you may be able to help on.

Maybe jump in there and carry on the discussion.

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Hey @andrewfowl thanks for this suggestion!

Can you clarify are you thinking of building an interface or trying to replicate IFRS? I think it would be really helpful for the discussion if you can provide some more structure. If it’s an early idea potentially it can fare better in the discord server until it takes the shape of a proposal.

Based on what you have shared it sounds tangential at best to Ricks proposal, so not sure if merging it in there will help

Hi @fartunov, yeah, this is definitely an early stage idea, so I appreciate the advice about discord. Is there any good server for this type of suggestions that you could recommend?) and you weee exactly correct analogizing it with IFRS. The main difference is that IFRS is a relatively small size committee that makes all decisions about how to report different transactions. And here the idea is to establish the standards based on community suggestions and votes.