Study On The Accounting Information Disclosure Based On The Extensible Business Reporting Language

At present, accounting information disclosure is faced with a new revolution—a revolution,which takes the chance of the rapid development of the information technology, fromtechnology to theory. Especially benefitting from the maturity of network technique, theaccounting disclosure has already entered into a new period mainly based on the InternetFinancial report rather than the papery disclosure. But it’s just a beginning. The appearance ofExtensible Business Reporting Language brings about the reconstruction of the wholeinformation disclosure system. In this new system, continual reports will replace the regularreports, the personalized custom reports will replace the general disclosure, and the multi-dimensional data will replace the single data in the financial disclosure. It’s the result of theaccounting informationization which profits from the information technology; it’s also thenecessary trend of the competition between owners and operators.Extensible Business Reporting Language (XBRL) is a new language, which based on theXML language, for the communication of financial data. Compared with traditional financialreport, it has the two advantages of versatility and extensibility: firstly it can run on all thesoftware and hardware platforms, which makes the exchange and location of data easy andachieves the goal of the repeated use of data once input between different platforms; secondly,users can easily add or revise the XML labels to extend the XBRL, which brings the extensionof the description in report come true. The function of XBRL can completely meet the need ofdata exchange for financial information reporting. We can even consider that the presentinformation disclosure system has limited the use of XBRL in the disclosure of nonfinancialinformation and the development of real-time disclosure.This study is on how to improve the XBRL disclosure system. A complete disclosuremodel should involve all aspects from information input to output. First of all, not onlyconsidering the output end, but also the information disclosure should find out the primary problems from the input end. The Value Approach Accounting use a black and white modelwhich only record valuable information which has shown on the financial statements and ignoreother information. For containing too much deliberate modification, this method hinders usersof the information to insight into the true financial condition and cannot provide the necessaryinformation source for the output end. On the other hand, the Event Approach Accountingfocuses on the record of events and discloses the features of events directly for the users, andthen the users should create personalized financial report on their own judgment. This methodcould provide more complete information source for XBRL. Secondly, when using XBRL atthe output ends to disclose a large amount of data, users have to deal with too much information,so it’s impossible to analysis mass data without professional data analysis software. Meanwhileenterprises should take the cost of data base and servicers into account, and governments andXBRL organizations should make standards and take charge of the real-time performance. Inconclusion, building a cloud database and a platform for software customization is good for theeffective using of the output ends of the XBRL.For these reasons, in this study, a new accounting information disclosure system isfounded based on the XBRL:1. Establishing data of the events’ feature using REA model;2.Describing these data using XBRL GL;3. Enterprises input these data into the cloud;4. Thedata of XBRL GL convert to XBRL FR all-purpose financial statement, or users read andanalysis the data of XBRL GL directly. In the last part of this paper, for promoting thedevelopment of XBRL system in China, the possible difficulties and corresponding solution ofapplying XBRL in China and the possible research directions of XBRL in the future have beendiscussed.