Research On The Improvement And Application Of XBRL Taxonomy

XBRL, based on XML technology, is the important technology in the development ofinternet financial reporting. China National Standardization Management Committeeissued the national standard XBRL specification series in October2010; in the meantime,National Ministry of Finance issued XBRL general taxonomy based on AccountingStandard for Enterprises. The publication of the two standards marks the arrival of the ageof accounting information guided by XBRL. XBRL taxonomy defines the informationelements and their relationship in the XBRL file. It is also the foundation of XBRLfinancial reporting. The quality of XBRL taxonomy has a decisive effect on XBRLfinancial reporting. In order to ensure the effectiveness of XBRL financial reporting, wemust construct a high set of XBRL taxonomy.This dissertation mainly uses a combination of theory and case to research XBRLtaxonomy. To find out the problems of the current XBRL taxonomy, the author assess itsquality. Then put forward the improvement measures on the current XBRL taxonomy forma technical perspective and the way of application from an applied perspective. Thisdissertation is divided into six parts. The first part introduces the background andsignificance of the research and the advantages of XBRL technology. Then the partsummarizes the research status at home and abroad and puts forward the purpose and scopeof the research combined with the actual situation. Furthermore the part summarizes thecontent and research methods of the article. The second part summarizes and reviewsrelated literature at home and abroad from four aspects to provide guidance and reference.The third part evaluates our current XBRL taxonomy form two aspects of quantity and sizeof the elements in XBRL taxonomy to find out weakness. Then the part draws a conclusionthat the quantity and size of the elements is in need of improvement. The fourth part is veryimportant in the article. This part puts forward the improvement measures form two angelsof element deficiencies and redundancy. Use the way of hierarchical expansion from themacroscopic angle and improve the elements and the relationship of elements from themicrocosmic angle. The fifth part puts forward the way and methods of the improvedXBRL taxonomy from an applied perspective. The enterprise should establish a flexibleaccounting information system, strengthen the XBRL technical training of accountants inthe application of XBRL taxonomy. Generating instance document is a key link. What’smore, the enterprise should audit the effects of application of XBRL taxonomy withcontinuous auditing mode. The last part summarizes the dissertation and puts forward theresearch direction in future.