Case Study Of Agricultural Bank Of China Implementing Extensible Business Reporting Language(XBRL)

With the advantages of scalability,decomposition,computer readability,and meeting the needs of different users,the XBRL technology has become an irreversible trend in replacing traditional HTML,PDF,WORD and other financial reports since it was first proposed by Charles Hoffman,an American certified public accountant in 1998.Studies have shown that the promotion of XBRL technology in the whole society can greatly reduce the cost of accounting information production and use,improve the efficiency of information processing,and promote the regulatory level.The main problem of XBRL application today is how to apply XBRL to various enterprises in various industries and adapt to the actual situation of the enterprise.In 2012,the Ministry of Finance organized 18 representative banking financial institutions to conduct XBRL financial reporting pilots to improve the supervision of the banking industry.At the end of 2012,China's banking industry expanded classification standards were released.The banking industry became the second industry with a general extended classification standard after the oil and gas industry,which promoted the promotion of XBRL in the banking industry.This paper takes the XBRL application in the ABC as an example,and hopes to provide reference for the application of XBRL financial report in China's banking industry.The paper adopts the normative analysis method,case analysis method and comparative analysis method,combines the relevant concepts and theoretical foundations of XBRL and the research results of predecessors,and combs and analyzes the process of XBRL financial report in the ABC and the disclosure status.The study finds some problems in the process of applying XBRL,such as excessive expansion elements,many report disclosure errors and low report quality recognition,and explains the reasons.The causes of the problems include the lack of XBRL software tools and professionals,imperfect classification standards and reporting systems,lack of necessary auditing and verification mechanisms,and insufficient motivation for corporations.Finally,suggestions for improving XBRL financial reports are proposed from the perspective of the company itself,external stakeholders such as the government and regulatory agencies.