Application Research On XBRL-based Internet Financial Reporting In Anyang Iron & Steel Group Co.,ltd

With the continuous development of network information technology and accounting information, people have more requirements for the quality of information and acquisition efficiency. The current network financial reporting have been unable to meet the individual needs of stakeholders on financial information. In this context, XBRL was born and has become an inevitable trend in the development of future financial reporting. Since the date of the birth of XBRL in April 1998, it has received the attention of all of the world, and soon began the promotion and application of XBRL. In May 2010, China formally joined the XBRL international organization of the global alliance, and in the same year released the first edition of the general classification standard.At present, the research and exploration of XBRL in our country is not deep enough. Theoretically the imperfect will increase the difficulty of XBRL application. Listed Corporation is the main force in the promotion and application of XBRL in China. When our XBRL technology was not mature enough, some listed corporations were forced to apply XBRL, there were many unfavorable factors in enterprise emotional and implementation process. Therefore, further studying of XBRL in the specific application of listed companies can find the problems in the process of XBRL application, then we can improves continuously with perfect.In 2011, the Ministry of finance began to implement the application of XBRL in the listed Corporation. Angang group is one of the five pilot enterprises on the first application of XBRL in Henan Province, the implement is difficult, and there are few precedents to follow, therefore, Angang group can only rely on their own exploration and research. This paper mainly takes Angang group as an example to study the application of XBRL in the enterprise. After many investigations, the authors found that, although theoretically XBRL for financial reporting does have obvious advantages, but this advantage has not been fully play in Angang group. At present, Angang group in the application of XBRL still exist various problems, such as enterprises in the implementation of power shortage, enterprises do not attach importance to cost and benefit, XBRL Taxonomy is not perfect, check can not be completely based on software implementation etc..Any application of a new technology or theory is not easy, it requires a slow process of refinement and improvement. Therefore, this paper mainly takes Angang group as an example, with the help of Angang group Chief Accountant, by several investigations, analyses the problems and reasons existing in the application of XBRL Angang group, Finally, the author puts some suggestions for the problems in the application, At the same time, it also provides some guidance for other enterprises to apply XBRL.