The Problems And Countermeasures Of XBRL Internet Financial Reporting In China

XBRL (eXtensible Business Reporting Language) is a kind of computer language which can disclose the accounting information in internet environment. Its application provides a powerful technical support for the development of internet financial reporting. It can provide an open, independent information platform and can disclose real-time, accurate, efficient and cost-effective financial information. It can well solve the problems of the internet financial reporting, such as the limitations of technology and the questioned authenticity, and can flexibly satisfy the personalized needs of users. The transmission methods of financial information based on XBRL can reconstruct the chain of modern financial information. The application for XBRL can improve the efficiency about analysing, preparing and preserving financial statements, and also can product a far-reaching impact on financial information chain in which all participants will be beneficial. These participants include enterprises, investors, the audit institution, securities regulatory institutions, government agencies, and financial institutions. They were the provider, demanders and intermediary organizations of financial reporting.As people understand XBRL deeper, related technology develops more maturely, XBRL will be accepted by more companies and its applied scope is gradually expanding. XBRL as the international most advanced technology in internet financial reporting is very popular overseas, and has been entered the standardly applied stage. XBRL international organization and other countries will make XBRL develop to a new heigh level by common endeavor. As the applied environment for XBRL in china becomes mature, China initially has the corresponding research and the practical ability, and can popularize XBRL. But at the same time it also exists some actual problems, such as:the development of XBRL internet financial reporting lacks of theoretical support, the problems of XBRL taxonomy and audit, information security threats. If the problems are not solved, XBRL will affect the applied process and its effect in china.This paper researches XBRL internet financial reporting in the background above. This article which is based on normative research and research results at home and abroad, mainly studies the problems and countermeasures of internet financial reporting under the technology XBRL in china, in order that XBRL can develop better and faster, use advantages. Firstly, it examined the present situation of the XBRL application in China. Although XBRL internet financial reporting has been proposed for years, but XBRL develops slowly in our country, the application scope is limited; it is in the initial stage. Secondly according to the present situation it summarizes the main problems existing in the application and has the theoretical basis, taxonomy, the problem of information security and audit, four key aspects to summarize. Thirdly it gives the reasons for the four aspects problems, and deeply studies the bottleneck of the XBRL application in china. Finally, the countermeasures are proposed.This article has a mainline which is the XBRL application in china, and closely encloses four subjects. Present situation, problems, causes, and countermeasures are closely related. In addition, two big plates in this paper are important. One is about the theoretical basis of XBRL internet financial reporting which is event accounting theory; another is the successful experience of XBRL successful application overseas.Under the guidance of research thinking above, this paper can be divided into four sections:the first chapter introduces the related concepts and the theories foundation of XBRL internet financial reporting. This part discusses the related concepts of XBRL internet financial reporting at home and abroad. Secondly it explains that XBRL influence all users in the supply chain of internet financial reporting. Finally the fundamental theory of XBRL-event accounting theory is introduced in brief. In rhe second chapter, based on the research about the present situation, it summarizes problems existing in the XBRL internet financial reporting, and gives the reasons for these problems. Although China make tremendous contribution to the application of XBRL, but the effect of that is not ideal. This article mainly illustrates the existing problems from basic theory, taxonomy, audit and security, and finds the root causes for it. The third chapter, introduces the applied experience of XBRL internet financial reporting overseas, and gives some useful information to learn. It mainly introduces the applied situation of XBRL in America, Europe and Japan. The fourth chapter provides the countermeasures.