Microsoft Word - Azam&Taylor2011.doc (original) (raw)
Free related PDFsRelated papers
Free PDF
Free PDF
The Adoption of XBRL Reporting: Implications for Industry and Education
2013
The SEC issued a mandate in 2009 that requires all public companies and foreign private issuers to fi le their fi nancial reports using eXtensible Business Reporting Language (XBRL). XBRL is a global initiative undertaken in order to transform fi nancial reporting by developing an effi cient way of communicating fi nancial information in a form that allows faster and easier analysis. Specifi cally, the goal of XBRL is to provide greater comparability through requiring that companies map a common taxonomy to the information within their fi nancial statements. The benefi ts of XBRL are said to accrue to all participants in the fi nancial information supply chain. This paper examines the impact of XBRL on two specifi c groups within this supply chain: (1) accounting professionals and (2) security analysis professionals. This is done by examining the trends in awareness and usage of XBRL by the two groups, and by examining the degree to which information regarding XBRL has been incorpor...
Free PDF
Towards the Global Adoption of XBRL using International Financial Reporting Standards (IFRS)
XBRL is a language based on XML for the electronic communication of business information. It is designed to improve the exchange, aggregation and analysis of corporate data requiring disclosure, through a unique tagging structure that provides interoperability. But, the proliferation of a multitude of XBRL taxonomies, based on different accounting principles, can risk the objectives of standardization, comparability and re-usability of the information that is sought with XBRL. It is therefore essential to develop global accounting standards as a unique foundation on which the XBRL taxonomies can be established, so that it becomes possible to compare the financial information originating from various countries. Along these lines, the International Financial Reporting Standards (IFRS-GP) taxonomy was created to establish a common ground for international firms and create a platform that would enhance the benefits of XBRL. This paper examines whether the IFRS-GP taxonomy, at its curren...
Free PDF
Free PDF
The Awareness of the Extensible Business Reporting Language (XBRL) In Malaysia
The current study had explored the Extensible Business Reporting Language (XBRL) among various stakeholders from a financial reporting perspective. In addition, the impact of the benefits on users, organization and preparers might vary according to the culture, country or financial regulations. Thus, this research will focus on Malaysia since Malaysia is multi-cultural and the adoption of XBRL can be considered as a new development. Pertaining to this research, it is important to understand the concept of a new reporting technology and the way XBRL will provide interactive data. The awareness and intention to adopt the XBRL will resume effectively once users, preparers and regulators are able to understand the whole concept of XBRL. This research is considered significant in order to explore the readiness and awareness of new reporting technology in Asia, particularly in Malaysia. This study found only a few respondents was fully aware of XBRL, while the majority of respondents were unaware about XBRL. Besides awareness, the study found that there are approximately 67.2% of respondents who are likely to investigate the XBRL technology, which indicates that there is a possibility that XBRL will be more significant and eventually accepted by stakeholders. This study found that approximately 3.1% understood fully what XBRL is and 18% understood the basic concepts.
Free PDF
Does the Year 2000 XBRL Taxonomy Accommodate Current Business Financial-Reporting Practice?
Journal of Information Systems, 2002
XBRL (eXtensible Business Reporting Language) is an application of XML (eXtensible Markup Language) intended for use in digital business reporting. Observers predict XBRL will provide benefits to firms that adopt it, such as enhancing information use, facilitating comparability and consistency, and providing technological capability for near-continuous financial reporting through the Web. However, questions arise regarding how well the proposed taxonomy for financial statements corresponds to firms' preferred reporting practices. We argue that a poor fit may lead to information loss and to subsequent resistance to use or general adoption of the taxonomy. A lack of fit could therefore negate anticipated firm or information-user benefits.To address this issue, we assess how well the year 2000 version, for financial reporting by commercial and industrial (C&I) firms under U.S. GAAP, accommodates current financial-reporting practices of public companies. We attempt to match each lin...
Free PDF
Free PDF
E-GOVERNANCE AND FINANCIAL REPORTING THROUGH XBRL
In order to keep pace with the international best practices, the Indian Parliament enacted Information Technology Act, 2000 paving the way for introduction of IT services as a statutorily recognised business language. Under this machine-driven environment, the Act seeks to ensure cyber security and compliance with tax laws for cyber transactions. This was followed by the adoption of statutorily recognised electronic documents and digital signature replacing the erstwhile physical signature of an individual or a business entity. The country went one step further by launching the Ministry of Corporate Affairs for the 21st century (MCA-21) project implementing e-governance, and finally switching over to eXtensible Business Reporting Language (XBRL). In this backdrop, the present researchers have attempted to examine the genesis of e-governance in our country and the benefits derived there from. The present study also attempts to examine XBRL as a reporting language for corporate entities and to analyse the use of XBRL and its implications on the chartered secretaries and chartered accountants in our country.
Free PDF
A Review Of The Study On The Impacts Of The Extensible Business Reporting Language (XBRL)
International Journal of Scientific & Technology Research, 2019
eXtensible business reporting language (XBRL) is an electronic tool with the acceptable global standard for the electronic financial data to communicate and to be compiled, analyzed and shared among the stakeholders. The implementation of XBRL brings some benefits and impacts to all of the users of financial reports. This study aims to identify the research trends on the impact of XBRL and issues related to it. Forty-six articles related to the impact of XBRL was extracted from the Scopus database and Google Scholar. The result from the study found that a study regarding the XBRL impact has shown slightly increase until 2014 but has not grown much since then. There are a few perspectives that have been discovered to investigates on how XBRL affected certain users of the financial reports. This study will give a general picture of the current research on the impact of XBRL, the trend, and future direction of the research related to the XBRL.
Free PDF
