XBRL: Don't lag behind the digital information revolution

Higgins, Leslee N.; Harrell, Horace W.

doi:10.1002/jcaf.10178

Cited by 10 publications

(7 citation statements)

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“…Thus the company's accounting policy and its subcomponents may also be identified by XBRL tags. Since it forms part of the XML family, it is also extensible, and can therefore be customised to suit the needs of different organisations and industries (Higgins and Harrell, 2003, p. 14). There are indeed groups working at developing specific tags for specific industries (Higgins and Harrell, 2003, p. 14), some of which have already been finalised in the US; for example, taxonomies for banking, insurance and investment management (XBRL International, 2007a).…”

Section: Background On Xbrlmentioning

confidence: 99%

The adoption of XBRL in South Africa: an empirical study

Steenkamp

Nel

2012

The Electronic Library

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -eXtensible Business Reporting Language (XBRL) is an important new information and communication technology for the electronic communication of business and financial data. International research shows unacceptably low levels of awareness and adoption of XBRL. This paper aims to investigate the level of awareness of XBRL in South Africa among chartered accountants. Furthermore, it aims to consider the factors influencing adoption of XBRL and the impact of the economic circumstances on the decision to adopt XBRL. Design/methodology/approach -The research was conducted with data collected through a structured, self-administered web-based survey sent to 11,458 chartered accountants. Chartered accountants will be primarily responsible for the implementation of XBRL at organisations. Findings -The findings are largely in line with international studies, indicating a low level of awareness and slow adoption of the new technology. The major reasons cited for not adopting XBRL are that it is not yet mandatory in South Africa to do so and in the view of the respondents there is not any benefit in adopting XBRL. The results indicated that the economic circumstances did not have any effect on the decision to implement XBRL, be it either to implement or not to implement XBRL. Originality/value -It is concluded that the business case for XBRL, internationally and in South Africa, should be made stronger for awareness and adoption rates to improve. The adoption of XBRL is, by implication, important and relevant to everyone with an interest in information management.

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Section: Background On Xbrlmentioning

confidence: 99%

The adoption of XBRL in South Africa: an empirical study

Steenkamp

Nel

2012

The Electronic Library

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“…Time and cost savings realised by the auditors in the above processes could lead to lower audit fees or more value-added services to the client. Because the XBRL taxonomy is both free and freely available, that is, not proprietary to specific software, it facilitates continuous auditing, a practice which could become more prevalent as time goes on (Troshani & Doolin 2007;Flowerday et al 2006;Barac 2004;Higgins & Harrell 2003;Bergeron 2003).…”

Section: Benefits Of Xbrlmentioning

confidence: 99%

An exploratory study of chartered accountants’ awareness and understanding of XBRL

Nel

Steenkamp²

2008

Meditari Accountancy Research

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eXtensible Business Reporting Language (XBRL) is an important new technology for the electronic communication of business and financial data and, by implication, relevant to, inter alia, chartered accountants. Because research in Australia and the USA showed unacceptably low levels of awareness and understanding of XBRL, research was conducted to determine the levels of awareness and understanding of XBRL in South Africa. The study was limited to chartered accountants. The results showed that the majority of chartered accountants in South Africa are currently unaware of XBRL and few fully understand it. In spite of these findings, the majority of respondents acknowledged the fact that it was necessary for either them or someone in their organisation to investigate the matter of XBRL in the near future.

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“…Moreover, it is possible that all reported items be based on real-time information. With the XBRL, financial and accounting professionals may monitor company transactions continuously for real-time allowing business decisionmaking or supporting audits (Higgins and Harrell, 2003).…”

Section: Enterprise Architecture and Enterprise Application Integrationmentioning

confidence: 99%

Impact of ICT Innovative Momentum on Real-Time Accounting

Belfo

Trigo

Estébanez

2015

Business Systems Research Journal

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Background: Enterprises are entering into the era of the real-time economy, also called the “now economy”, which can be characterized by a substantive acceleration of business measurement, assessment and decision processes. The real-time reporting, as a phenomenon of the now economy, presents a new challenge to the Accounting Information Systems. The current long wave of prosperity is characterized by an innovative momentum of ICT, with several disruptive innovations, far from being completely utilized. Objectives: Possible future potentialities and consequences of this innovative momentum of ICT on the real-time reporting are analysed within a network scenario approach. Methods/Approach: The used approach is the Futures Wheel, a structured brainstorming method that structures ideas about future events, issues, trends, and strategy, organised under several layers of rings of consequences. Results: The innovative momentum has certain visible direct consequences such as smart mobile devices, higher business intelligence, improved enterprise architecture and enterprise application integration, cloud services offer or increased business process maturity in organizations, and a significant number of indirect consequences on the real-time accounting. Conclusions: The actual innovative momentum of ICT has a vast set of indirect opportunities for the real-time reporting which, after a proper plan, can address its implementation.

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XBRL: Don't lag behind the digital information revolution

Abstract: Does your company present information on the Internet? If you're not using XBRL—a special standard for reporting financial information on the Internet—you could get left behind! Why not reap the benefits of using this latest innovation? © 2003 Wiley Periodicals, Inc.

Cited by 10 publications

References 0 publications

The adoption of XBRL in South Africa: an empirical study

The adoption of XBRL in South Africa: an empirical study

An exploratory study of chartered accountants’ awareness and understanding of XBRL

Impact of ICT Innovative Momentum on Real-Time Accounting

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