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The Optimization Of The Internal And External Reporting In Financial Accounting: Adopting Xbrl International Standard

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  • Vasile Florescu
  • Cătălin Georgel Tudor

Abstract

More and more enterprises, especially the listed companies, have adopted new accounting norms and regulations (IFRS or US GAAP, Bale II and, in perspective, SURFI), manifesting interest for publishing financial reports using a standard format able to considerably improve their communication, data collection in the receiving units, control and analysis of financial information. When switching to the new accounting rules specified in international or regional standards and norms, regulatory and control bodies recommend the XBRL format for financial reporting, with recognition of the regional jurisdiction. Our paper makes a review of the literature, presents the XBRL specific elements and proposes possible solutions for internal and external financial reporting of an enterprise. Finally, it concludes on the benefits of adopting XBRL at national level in a potential XBRL Romania project.

Suggested Citation

  • Vasile Florescu & Cătălin Georgel Tudor, 2009. "The Optimization Of The Internal And External Reporting In Financial Accounting: Adopting Xbrl International Standard," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 1-12.
    • Handle: RePEc:alu:journl:v:1:y:2009:i:11:p:12
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    File URL: http://oeconomica.uab.ro/upload/lucrari/1120091/12.pdf
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    References listed on IDEAS

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    1. Vasile Florescu & Cosmin Petronel Amza & Catalin Georgel Tudor, 2009. "The Normalization Of Financial Data Exchange Over The Internet: Adopting International Standard Xbrl," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 4(1), pages 935-939, May.
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    Cited by:

    1. Mihaela Enachi & Aristiţa Rotilă, 2011. "Basics of XBRL Instance for Financial Reporting," BRAND. Broad Research in Accounting, Negotiation, and Distribution, EduSoft Publishing, vol. 2(2), pages 22-31, October.

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      More about this item

      Keywords

      accounting norms; financial reporting; XBRL; taxonomy; XBRL jurisdiction.;
      All these keywords.

      JEL classification:

      • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management

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