Analysis of XBRL Literature: A Decade of Progress and Puzzle

Roohani, Saeed; Xian-ming, Zhao; Capozzoli, Ernest A.; Lamberton, Barbara

doi:10.4192/1577-8517-v10_6

Cited by 23 publications

(15 citation statements)

References 13 publications

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“…Thousands of papers have been written on the topic of XBRL (Roohani and Zhao 2009). In an earlier study (Bovee et al 2002), manual inspection of line items in financial statements of 69 companies was used to examine whether an preliminary taxonomy met reporting needs of most companies.…”

Section: Related Workmentioning

confidence: 99%

Quality of data standards: framework and illustration using XBRL taxonomy and instances

Zhu

2011

Electron Markets

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The primary purpose of data standards is to improve the interoperability of data in an increasingly networked environment. Given the high cost of developing data standards, it is desirable to assess their quality. We develop a set of metrics and a framework for assessing data standard quality. The metrics include completeness, relevancy, and a combined measure. Standard quality can also be indirectly measured by assessing interoperability of data instances. We evaluate the framework on a data standard for financial reporting in United States, the Generally Accepted Accounting Principles (GAAP) Taxonomy encoded in eXtensible Business Reporting Language (XBRL), and the financial statements created using the standard by public companies. The results show that the data standard quality framework is useful and effective. Our analysis also reveals quality issues of the US GAAP XBRL taxonomy and provides useful feedback to taxonomy users. The Securities and Exchange Commission has mandated that all publicly listed companies must submit their filings using XBRL. Our findings are timely and have practical implications that will ultimately help improve the quality of financial data and the efficiency of the data supply chain in a networked business environment.

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Section: Related Workmentioning

confidence: 99%

Quality of data standards: framework and illustration using XBRL taxonomy and instances

Zhu

2011

Electron Markets

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“…More recently, XBRL is being adopted because of a "push" by institutions that have identified XBRL as a "public good" that can increase the transparency and monitoring of financial reporting (Roohani, Xianming, Capozzoli, and Lamberton, 2010). To optimize the benefits of XBRL, two approaches have been identified: nonactive push and active push (Bons on, Cortijo, Escobar, and Flores, 2009c).…”

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confidence: 98%

XBRL for Financial Reporting: Evidence on Italian GAAP versus IFRS

Valentinetti

Rea

2013

Accounting Perspectives

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The systematic adoption of the eXtensible Business Reporting Language (XBRL) for financial reporting represents a great challenge. Worldwide, a large number of regulators are making an effort to promote the adoption of this standard to simplify and enhance the communication of financial information. This requires the definition of well-structured taxonomies that can standardize and accommodate the content of financial reports prepared by firms. This study aims to analyze the regulator-led adoption of XBRL for financial reporting. It examines the XBRL taxonomies used by Italian firms to reflect their financial reporting under rulebased Italian GAAP and principles-based International Financial Reporting Standards (IFRS). We compare the alignment of the Italian GAAP taxonomy and the IFRS taxonomy with Italian companies' financial statements and find two different levels of fit. The results offer useful insights for regulators and policy makers in prescribing or establishing appropriate taxonomies. We illustrate the potential impacts of the different taxonomies on the quality of financial reporting in terms of comparability and potential loss of information. L'INFORMATION FINANCI ERE EN MODE XBRL : PCGR ITALIENS ET IFRS RÉSUMÉ L'adoption syst ematique de l'eXtensible Business Reporting Language (XBRL) dans la communication de l'information financi ere est un enjeu de taille. Partout dans le monde, de nombreuses autorit es de r eglementation s'efforcent de promouvoir l'adoption de cette norme pour simplifier et favoriser la communication d'information financi ere. Cette conversion exige la d efinition de taxonomies bien structur ees, aptes a normaliser et a traiter le contenu des rapports financiers pr epar es par les soci et es. Les auteurs ont pour but d'analyser l'adoption du XBRL dans la communication de l'information financi ere, a l'initiative des autorit es de r eglementation. Ils etudient les taxonomies XBRL utilis ees par les soci et es italiennes pour convertir leur information financi ere etablie conform ement aux PCGR italiens, fond es sur les r egles, et aux normes internationales d'information financi ere (IFRS), fond ees sur les principes. Les auteurs comparent l'alignement de la taxonomie des PCGR italiens et de celle des IFRS dans les etats financiers des soci et es italiennes et observent deux niveaux d'ad equation diff erents. Les r esultats fournissent aux autorit es de r eglementation et aux responsables de l' elaboration des politiques des renseignements utiles en ce qui a trait a la prescription ou a

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“…In this regard, prior studies on XBRL manly related to normative issues aiming at providing descriptive materials on XBRL by attracting the interest of practitioners' journals as well (Roohani et al 2010). Afterwards, academic accounting literature focuses on taxonomy (Bonsón et al 2009) as well as costs and benefits of XBRL implementation (Baldwin and Trinkle, 2011).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The development of XBRL has attracted the interest of academic accounting research since its inception with a significant increase in the last years, helping to raise awareness of XBRL potential to improve financial data and information exchange (Fradeani, 2009;Roohani et al 2010;Zambon, 2010;Perdana et al 2015).…”

Section: Literature Reviewmentioning

confidence: 99%

XBRL Extension to the Financial Statement Notes: Field-based Evidence on Unlisted Companies

Avallone¹,

Ramassa²,

Roncagliolo³

2016

IJDAR

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Abstract. This paper aims at providing field-based evidence on actual benefits and costs arising from mandatory XBRL extension to financial statement notes for Italian unlisted companies. In pursuit of these objectives, we conduct interviews with Italian chartered accountants involved in the production of financial information. XBRL requirements for unlisted companies in Italy enable us to assess the effects of the mandatory XBRL extension to the notes separately from its adoption for financial statements. Results suggest that the main benefit of this extension lies in an increased comparability across firms. However, this transition has not increased the number of data disclosed. On the contrary, the taxonomy might make more difficult to include voluntary disclosures and relevant information such as the statement of cash flows, thus leading to less data available for users. Our findings have relevant implications for regulators, users, and companies as well.

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Analysis of XBRL Literature: A Decade of Progress and Puzzle

Cited by 23 publications

References 13 publications

Quality of data standards: framework and illustration using XBRL taxonomy and instances

Quality of data standards: framework and illustration using XBRL taxonomy and instances

XBRL for Financial Reporting: Evidence on Italian GAAP versus IFRS

XBRL Extension to the Financial Statement Notes: Field-based Evidence on Unlisted Companies

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