Research On The Influence Of XBRL Financial Report On The Quality Of Accounting Information Of Listed Companies

With the increasing requirement of accounting information disclosure,e Xtensible Business Reporting Language(XBRL)has emerged and flourished all over the world in the 21 st century.As a part of accounting standards for business enterprises,XBRL has profound connotation in element matching and logical structure.In order to further promote the application of XBRL in China,the Ministry of finance clearly stated that: promote the effective implementation of the general classification standard of accounting standards for business enterprises,and constantly improve the level of accounting informatization in the <Outline of the 13 th five year plan for accounting reform and development> issued in 2016,which also means that the government has put forward higher requirements for the breadth and depth of XBRL application.By improving the technical level of XBRL,China can overtake in the international information technology field in a corner and master the discourse power of global accounting standards.2020 is the end of the "13th Five-Year plan".At the key node of the "13th Five-Year plan",it is imperative to integrate the disclosure and submission standards to promote XBRL in the face of the current situation: three XBRL classification standards of the Ministry of finance,Shanghai Stock Exchange and Shenzhen Stock Exchange coexist.As an important factor influencing decision-making,accounting information quality is closely related to information disclosure.It is the focus of this study that the influence of XBRL Financial Report with general classification standard on accounting information quality of listed companies.On this basis,this paper examines whether general classification standard is more superior to Shanghai and Shenzhen Stock Exchange standard.From the current situation of formulating and implementing general classification standards in China,this paper studies the influence of XBRL Financial Report on the comparability,reliability and correlation of accounting information,based on the cognitive theory,stakeholder theory,information asymmetry theory and financial information element theory.All 45 listed companies in the pilot enterprises of the general classification standard were selected as the research objects.The annual report documents of each enterprise from 2008 to 2018 were collected from the websites of Shanghai Stock Exchange,Shenzhen Stock Exchange and Guotai'an database as samples to investigate the role of XBRL in improving the pilot enterprises' s quality of accounting information disclosure.From the perspective of earnings management,this paper takes the controllable accruals as the quantitative index of accounting information quality,studies whether the earnings quality of pilot enterprises changes significantly before and after the application of the general classification standard,and makes regression analysis on the correlation between the change reason and XBRL.The results show that the implementation of XBRL has a positive impact on the quality of accounting information,and the general classification standard is better than that of Shanghai Classification standard and Shenzhen Stock Exchange.Combined with the research conclusion,four policy suggestions are put forward for the improvement of XBRL: to promote the breadth and depth of XBRL application,to realize the unification of classification standards by the Ministry of finance,to build XBRL reporting and supervision platform,to strengthen the policy guidance of XBRL application,to promote the unification of XBRL classification standards in China,and to promote the role of XBRL in improving the quality of enterprise accounting information.