Xbrl around the world: A new global financial reporting language

Abhilasha, N. (2014) Xbrl around the world: A new global financial reporting language. International Journal of Research in Commerce, IT and Management, IV (XI). ISSN 2231-5756

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Abstract

In this global era, as business world looking at international level there is a need of common financial reporting language to interact financial information at a global level. Different countries follows different reporting format in order to remove diversity in reporting, XBRL is the best solution as it is transparent, reliable, cost saving, time saving, greater efficiency, improved accuracy etc., which will be great revolution in the accounting area in building common global reporting language. Charles Hoffman is Known as the founder of XBRL in the 1997. XBRL is an Web-based business reporting language that is rapidly becoming an International standards for financial reporting. It holds the promise of improving the efficiency of producing, disseminating and using a compnays financial and non-financial information. It provides cost savings, great efficiency, transparency, comparability, improved accuracy and reliability to both suppliers and users of financial data. This paper aims to study the XBRL implementation around the world i.e., USA, Canada, China, Australia and India and also their implementation process using Secondary data method.

Item Type: Article
Uncontrolled Keywords: Xbrl and Taxonomy and C& I.
Subjects: G Commerce > Commerce
Divisions: Department of > Commerce
Depositing User: Shrirekha N
Date Deposited: 01 Oct 2019 06:01
Last Modified: 01 Oct 2019 06:01
URI: http://eprints.uni-mysore.ac.in/id/eprint/8648

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