Financial Reporting in XBRL on the SEC's EDGAR System: A Critique and Evaluation

Debreceny, Roger; Chandra, Akhilesh; Cheh, John J.; Guithues-Amrhein, Denise; Hannon, Neal J.; Hutchison, Paul D.; Janvrin, Diane J.; Jones, Roberta Ann; Lamberton, Barbara; Lymer, Andy; Mascha, Maureen Francis; Nehmer, Robert A.; Roohani, Saeed; Srivastava, Rajendra P.; Trabelsi, Samir; Tribunella, Thomas; Trites, Gerald; Vasarhelyi, Miklos A.

doi:10.2308/jis.2005.19.2.191

Cited by 115 publications

(61 citation statements)

References 8 publications

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“…Other XBRL related topics covered in academic journal included the SEC's interest in a Financial Reporting using XBRL (Debreceny et al 2005), Auditing and Assurance with XBRL (Bovee et al, 2005;Plumlee and Plumlee, 2008) and Financial Reporting implications (Hodge et al 2004). More recent XBRL related articles in the academic journals included a look at the potential synergies between the REA model and XBRL GL (Amrhein, Farewell and Pinsker, 2009) and an experimental study of the relationship between reporting format and user perceptions, preferences and performances (Ghani, Laswad and Tooley, 2009).…”

Section: Discussionmentioning

confidence: 99%

Analysis of XBRL Literature: A Decade of Progress and Puzzle

Roohani

Xian-ming²,

Capozzoli³

et al. 2010

IJDAR

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Abstract. XBRL (eXtensible Business Reporting language) was recently, in 2008, in its 10th year. The concept was articulated in 1998 by Charles Hoffman, known as XFRML (eXtensible Financial Reporting Mark Up Language) to facilitate the business reporting process and improve financial reporting. The objective of this paper is to examine a decade (1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008) of XBRL articles published in various publications including trade, practitioner and academic journals to identify trends and patterns, milestones, and organizations actively contributed to this development. Another goal is to assess public perceptions of XBRL, its capabilities and its future. We examined published articles where XBRL appeared either in the title or abstract of the article during 1998-2008. Considering that XBRL reporting is being required only in recent years, the research shows various interest groups worked together for a long time to achieve a common goal. The academic community has also been proactive in contributing to and assessing this new reporting standard. There is a trail of research articles to document this contribution. This paper provides various charts and interesting statistics.

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Section: Discussionmentioning

confidence: 99%

Analysis of XBRL Literature: A Decade of Progress and Puzzle

Roohani

Xian-ming²,

Capozzoli³

et al. 2010

IJDAR

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“…We focus on the tables of the financial statement notes used by the filers of the abbreviated financial statements, which are proper of the standard financial statements. It is important to mention that issues and benefits related to the notes of financial statements in XBRL have been widely analyzed in US studies (Debreceny et al, 2005;Debreceny et al, 2011;Janvrin and No, 2012;Arnold et al, 2012).…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Reporting Practices of Italian SMEs: Why Do They Disclose More?

Panizzolo¹,

Fradeani²,

Metushi³

2017

IJDAR

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Abstract. From reporting periods ending on or after 31 December 2014, Italian unlisted companies filing their financial statements under the national GAAP have to deposit them to the Business Register in fully XBRL format. In particular, for companies submitting their financial statements in the abbreviated form, the mandatory taxonomy has offered the option to use in their notes also the tables of the standard one: this means that they can voluntarily provide more information than that normally required by the law. In this paper, we investigate this phenomenon focusing on its level and analyzing the variables explaining the reasons that push Italian SMEs to use, in their abbreviated financial statements, non-compulsory tables that are proper of the standard ones. Based on a large sample of 8,738 elements, we report surprising results: more than 80% of the abbreviated financial statements include at least one table proper of the standard ones, while on average they include seven. In addition, when analyzing the determinants of this phenomenon we find that the only relevant variable explaining the number of optional tables included in the abbreviated financial statements is the software used for preparing them.

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“…There has been over one decade of studies and evaluations on the Internet facilitated financial reporting in general and XBRL in particular (Ashbaugh et al 1999;Debreceny et al 2002;Ettredge et al 2002;Debreceny et al 2005;Kelton and Yang 2008;Debreceny et al 2010). These studies explored, advocated, and generally supported the idea of using the Internet companies' SEC filings from a paper based format to an electronic format and makes them available to users at the SEC's website.…”

Section: Requirement Of the Phase-in Xbrl Filings And Errorsmentioning

confidence: 99%

XBRL Mandate: Thousands of Filing Errors and So What?

Vasarhelyi

Zheng

2013

Journal of Information Systems

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Acknowledgement: We are grateful for the exchanges with Cliff Binstock, the CEO of XBRL Cloud, who helped us understand the data of XBRL filing errors his company compiled and we used in our study. provider, more than 4000 filing errors have been identified. We examine the overall changing pattern of the errors to understand whether the vast number of errors may hamper the transition to the interactive data reporting. Using a sample of 4532 filings that contain 4260 errors, we document significant learning curves exhibited by the SEC XBRL filing environment, by the filers, and by the XBRL software vendors. Specifically, we find that the number of errors per filing is significantly decreasing as more quarters pass, when a company files more times, and when a higher version of software is used, suggesting that the SEC, the company filers, and the technology community all learn from their experiences and therefore the future filings are improved. Our findings provide evidence to encourage the regulatory body, the filers, and the XBRL technology supporting community to embrace the new disclosure requirement in financial reporting. The significantly decreased number of errors also helps address the information users' concerns regarding the data quality of XBRL filings.

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Financial Reporting in XBRL on the SEC's EDGAR System: A Critique and Evaluation

Cited by 115 publications

References 8 publications

Analysis of XBRL Literature: A Decade of Progress and Puzzle

Analysis of XBRL Literature: A Decade of Progress and Puzzle

Financial Reporting Practices of Italian SMEs: Why Do They Disclose More?

XBRL Mandate: Thousands of Filing Errors and So What?

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