Consequences of XBRL standardization on financial statement data

Miklos A. Vasarhelyi, David Y. Chan, J. P. Krahel

Research output: Contribution to journalArticlepeer-review

58 Scopus citations

Abstract

XBRL (eXtensible Business Reporting Language) has become an important element of the financial reporting landscape. This paper provides a discussion of the effects of XBRL on the usefulness of financial data. Using the theoretical framework of the technology acceptance model (TAM), we examine XBRL's potential to improve the usefulness of reported financial information. As XBRL gains wider acceptance, we examine five axes along which XBRL standardization will propagate: current data, disclosure format, historical data, data fidelity and assurance, and thirdparty data. We also call attention to new research opportunities that may arise as XBRL and related technologies mature.

Original languageEnglish (US)
Pages (from-to)155-167
Number of pages13
JournalJournal of Information Systems
Volume26
Issue number1
DOIs
StatePublished - 2012

All Science Journal Classification (ASJC) codes

  • Management Information Systems
  • Software
  • Information Systems
  • Accounting
  • Human-Computer Interaction
  • Information Systems and Management
  • Management of Technology and Innovation

Keywords

  • Data analysis
  • Financial reporting
  • References
  • XBRL

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