Industrial Bank XBRL Application Research

In order to solve the standardization of network financial reports,improve the efficiency of providing financial information,and facilitate the query and comparison of data,in 1998,Charles Hoffman,a certified public accountant in the United States,proposed the XBRL technology.In 2011,China issued the XBRL general classification standard and the XBRL technical specification series of national standards,and began to officially promote the use of XBRL in 13 pilot enterprises.In 2012,the Ministry of Finance issued China's first "Enterprise Accounting Standards General Classification Standards for Banking Industry Expansion Classification Standard",which promoted the promotion of XBRL in China's banking industry.The banking industry is currently one of the only two industries in China that have established XBRL industry classification standards.Industrial Bank is one of the first banks to participate in the pilot XBRL.Industrial Bank is selected as the research object to test the effectiveness of XBRL implementation in China.Summarizing the application experience will further explore the development path of XBRL application in China in the future.At the same time,it has certain theoretical significance and practical significance for the continuous improvement of general classification standards and banking industry classification standards.This paper uses the case analysis method and comparative analysis method to deeply dig into the application process of XBRL of Industrial Bank.It first explains the research background and significance of research,summarizes the research results at home and abroad and briefly reviews the related research results.Then this paper introduces the concept of XBRL,technical principles and theoretical basis.On this basis,the current situation of Industrial Bank XBRL application is reviewed.The study finds that there are many problems in the generation and use of the XBRL report of the Industrial Bank,including many disclosure errors and non-standard element expansion.The external causes of these problems are the unsoundness of China's classification system.Internal reasons include the lack of professional competence of the XBRL report preparers and the lack of a reasonable audit and verification mechanism for XBRL reports.In response to the above problems,the paper proposes suggestions for improving the banking industry expansion taxonomy,establishing a comprehensive XBRL report verification system,and strengthening the Industrial Bank XBRL composite talents training,etc.,aiming at constructing an XBRL implementation plan that complies with Industrial Bank.The implementation is expected to improve the quality of the preparation and use of XBRL financial reporting of the Industrial Bank,pave the way for the future of XBRL in the banking industry,and provide reference for other industries to implement XBRL technology.Through the research,the following conclusions are drawn: First,the quality of XBRL financial disclosures affects the use of XBRL reports.At present,China's XBRL financial information is mainly disclosed on the websites of the Shanghai Stock Exchange and the Shenzhen Stock Exchange.However,XBRL financial information is only for reference and the PDF version prevails.This makes XBRL lose its effectiveness as an accurate commercial reporting language;Second,the classification standards and their expansion taxonomy quality affect the level of application of XBRL.The use of the elements of the General Classification Standard and the Industrial Extended Classification Standard at the enterprise level is inefficient,which indicates that they do not conform to the actual application of corporate elements.The quality of XBRL instance documents is inextricably linked to the level of expansion of the taxonomy;third,the application potential of XBRL remains to be explored.At present,the application level of China's XBRL needs to be improved.There is still room for further improvement in terms of the improvement of the general taxonomy standards,the formulation of industry expansion standards,and the disclosure of web pages.