Research On The Problems Of Internet Financial Reporting Model Based On XBRL

It is inevitable that Internet Financial Reporting will partly or completely take the place of reporting presented on paper in the 21century.In this circumstance,the primary technological problem in Internet financial reporting is the ability to obtain information easily and timely.Due to the weakness of HTML language,XML becomes an effective platform that can solve many questions for its extensibility.From 1999,AICPA began to develop a new language based on XML called eXtensible Business Reporting Language(XBRL),to resolve the problem in collecting,transferring,repairing and analyzing accounting information through Internet. Up to now, XBRL has made a great progress in the world.XBRL technology is a new financial reporting model.This model does not change existing accounting standards, only a platform of the standard content of the report for reporting and re-expression. It has improved the traditional financial reporting, and also the parties of accounting information chain have been able to enjoy the convenience and efficiency.Firstly, the paper analyzed the concept,technology trait and determinants based on XBRL. It attempted to straighten out the connections and the differences among all kinds of existing Internet financial report models,analyse the effects on improvements of Internet financial report model due to the information technology. Secondly, the paper compared the fit and unfit qualities of all kinds of Internet financial report models under the information technology environment,and researched the effective way to transform the Internet financial report models from the technical stratification plane. And then, on the basis of before, It analyzed the risk control under XBRL mode. Finally, an example of SINOPEC was used to introduce the application of the XBRL model in our country and the corresponding measures that the Government should be taken to regulate and control. Believe under the encouragement of the Government and the joint efforts of theoretical circles in the accounting profession and practice, software vendors, more and more enterprises will use XBRL as a standard financial reporting model. At the same time,the information disclosure control departments should also take effective measures to promote the network financial reporting of a virtuous circle, reduce the information asymmetry in capital markets and enhance the transparency of capital markets ,thus to better protect investors to promote the healthy development and continuous improvement of China's capital market.