IDEAS home Printed from https://ideas.repec.org/a/bit/bsrysr/v6y2015i2p31-40.html
   My bibliography  Save this article

XBRL Standard for Financial Reporting in Croatia: Current State and Perspectives

Author

Listed:
  • Gostimir Dejan

    (Zagreb School of Economics and Management, Zagreb, Croatia)

Abstract

Background: Harmonization and standardization is becoming important among regulators and business community. XBRL has entered the global stage as a financial reporting standard. Its mission was to standardize the financial reporting, lower the reporting costs and make the reporting as transparent as possible.Objectives: The goal of the paper is to review the current usage of XBRL as a standard worldwide and to give an overview of its current state and perspectives in Croatia.Methods/Approach: The secondary research method for examining XBRL as a standard has been applied in this work.Results: The European Union embraced XBRL as the only standard that will be used for mandatory financial reporting and as such it is implemented in EU legislation. Croatia is a new member state and XBRL usage, which is still limited in Croatia, presents one of the country’s challenges.Conclusions: XBRL is the new standard for financial reporting that has had its place and usage in practice for several years now. It is adopted as a mandatory reporting standard in in most countries of the world, but not without barriers.

Suggested Citation

  • Gostimir Dejan, 2015. "XBRL Standard for Financial Reporting in Croatia: Current State and Perspectives," Business Systems Research, Sciendo, vol. 6(2), pages 31-40, September.
    • Handle: RePEc:bit:bsrysr:v:6:y:2015:i:2:p:31-40
    DOI: 10.1515/bsrj-2015-0009
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/bsrj-2015-0009
    Download Restriction: no
    File URL: https://libkey.io/10.1515/bsrj-2015-0009?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Joanne Locke & Alan Lowe, 2007. "XBRL: An (Open) Source of Enlightenment or Disillusion?," European Accounting Review, Taylor & Francis Journals, vol. 16(3), pages 585-623.
    2. Cristina Stefanescu, 2014. "XBRL-Based Projects for Financial and Prudential Reporting – an Empirical Analysis in European Banking System," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 10(2), pages 76-86, April.
    3. Indrit Troshani & Lee D. Parker & Andy Lymer, 2015. "Institutionalising XBRL for financial reporting: resorting to regulation," Accounting and Business Research, Taylor & Francis Journals, vol. 45(2), pages 196-228, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Troshani, Indrit & Janssen, Marijn & Lymer, Andy & Parker, Lee D., 2018. "Digital transformation of business-to-government reporting: An institutional work perspective," International Journal of Accounting Information Systems, Elsevier, vol. 31(C), pages 17-36.
    2. Indrit Troshani & Nick Rowbottom, 2021. "Digital Corporate Reporting: Research Developments and Implications," Australian Accounting Review, CPA Australia, vol. 31(3), pages 213-232, September.
    3. Enrique BONSON, 2008. "Solvency II and XBRL: New Rules and Technologies in Insurance Supervision," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 2, pages 35-49, November.
    4. Florin Radu, 2016. "XBRL – The business Language in the Digital Age," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 589-594, February.
    5. Valentinetti, Diego & Flores Muñoz, Francisco, 2021. "Internet of things: Emerging impacts on digital reporting," Journal of Business Research, Elsevier, vol. 131(C), pages 549-562.
    6. Cristina Stefanescu, 2014. "XBRL-Based Projects for Financial and Prudential Reporting – an Empirical Analysis in European Banking System," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 10(2), pages 76-86, April.
    7. Saiful Azam, 2014. "Perceived Environmental Factors And The Intention To Adopt A Standard Business Reporting Facility: A Survey Of Australian Corporate Cfos," Asian Academy of Management Journal of Accounting and Finance (AAMJAF), Penerbit Universiti Sains Malaysia, vol. 10(2), pages 147-173.
    8. Arnold, Vicky & Bedard, Jean C. & Phillips, Jillian R. & Sutton, Steve G., 2012. "The impact of tagging qualitative financial information on investor decision making: Implications for XBRL," International Journal of Accounting Information Systems, Elsevier, vol. 13(1), pages 2-20.
    9. Enrique Bonsón & Virginia Cortijo & Tomas Escobar & Francisco Flores & Sergio Monreal, 2010. "Solvency II and XBRL: new rules and technologies in insurance supervision," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 18(2), pages 144-157, May.
    10. Schiavi, Giovana Sordi & Behr, Ariel & Marcolin, Carla Bonato, 2024. "Institutional theory in accounting information systems research: Shedding light on digital transformation and institutional change," International Journal of Accounting Information Systems, Elsevier, vol. 52(C).
    11. Atanasov, Atanas, 2022. "Digitalization Of The Corporate Reporting In Europe - Evidence From Bulgarian Wood Based Industry," MPRA Paper 114372, University Library of Munich, Germany.
    12. André Gräning & Carsten Felden & Maciej Piechocki, 2011. "Status Quo and Potential of XBRL for Business and Information Systems Engineering," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 3(4), pages 231-239, August.
    13. van de Kaa, Geerten & Janssen, Marijn & Rezaei, Jafar, 2018. "Standards battles for business-to-government data exchange: Identifying success factors for standard dominance using the Best Worst Method," Technological Forecasting and Social Change, Elsevier, vol. 137(C), pages 182-189.
    14. Alkhatib, Esra'a & Ojala, Hannu & Collis, Jill, 2019. "Determinants of the voluntary adoption of digital reporting by small private companies to Companies House: Evidence from the UK," International Journal of Accounting Information Systems, Elsevier, vol. 34(C), pages 1-1.
    15. Diego Valentinetti & Michele A. Rea, 2013. "XBRL for Financial Reporting: Evidence on Italian GAAP versus IFRS," Accounting Perspectives, John Wiley & Sons, vol. 12(3), pages 237-259, September.
    16. Ferhat D. Zengul & James D. Byrd & Nurettin Oner & Mark Edmonds & Arline Savage, 2019. "Exploring corporate governance research in accounting journals through latent semantic and topic analyses," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 26(4), pages 175-192, October.
    17. Miścikowska Daria, 2022. "An Exploratory Study on Preparers’ Perception of ESEF Reporting: Evidence from the Warsaw Stock Exchange," Folia Oeconomica Stetinensia, Sciendo, vol. 22(1), pages 191-218, June.
    18. Valentin Florentin Dumitru, 2011. "The Impact of Information Technologies on the Organization and Functioning of the Company," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(Special N), pages 754-770, November.
    19. Rowbottom, N. & Locke, J. & Troshani, I., 2021. "When the tail wags the dog? Digitalisation and corporate reporting," Accounting, Organizations and Society, Elsevier, vol. 92(C).

    More about this item

    Keywords

    eXtensible Business Reporting Language (XBRL); extensible markup language (XML); financial reporting standard; financial information; Europe; Croatia; perspectives;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bit:bsrysr:v:6:y:2015:i:2:p:31-40. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.