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XBRL and Financial Reporting Transparency

Author

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  • Mihaela Enachi

    (Faculty of Economic Sciences, “Vasile Alecsandri†University of Bacău, Romania)

Abstract

Using eXtensible Business Reporting Language (XBRL) in financial reporting increases transparency by allowing viewing the details of the information provided by organizations without subdividing it and the possibility of easy access and processing information, even if it is presented in different languages or it results from the application of different regulations. Through this paper we try to emphasize the transparency ensured to financial reporting by using XBRL, which is why we transposed in this modern format, partially, the contents of one of the components of financial reports, namely, the balance sheet. In this process we based on the requirements of the Romanian accounting regulations in compliance with European directives, XML requirements and XBRL requirements concerning schemas, linkbase files and instances, and we used three of the modules of Altova MissionKit application (XMLSpy, MapForce and StyleVision), while taking into account the best practices in the field.

Suggested Citation

  • Mihaela Enachi, 2013. "XBRL and Financial Reporting Transparency," BRAND. Broad Research in Accounting, Negotiation, and Distribution, EduSoft Publishing, vol. 4(1), pages 10-19, March.
    • Handle: RePEc:bra:journl:v:3:y:2012:i:3:p:10-19
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    References listed on IDEAS

    as
    1. Roger Debreceny & Carsten Felden & Bartosz Ochocki & Maciej Piechocki & Michal Piechocki, 2009. "XBRL for Interactive Data," Springer Books, Springer, edition 1, number 978-3-642-01437-6, June.
    2. Premuroso, Ronald F. & Bhattacharya, Somnath, 2008. "Do early and voluntary filers of financial information in XBRL format signal superior corporate governance and operating performance?," International Journal of Accounting Information Systems, Elsevier, vol. 9(1), pages 1-20.
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