X-IM Framework to Overcome Semantic Heterogeneity Across XBRL Filings

Semantic heterogeneity in XBRL precludes the full automation of the business reporting pipeline, a key motivation for the SEC’s XBRL mandate. To mitigate this problem, several approaches leveraging Semantic Web technologies have emerged. While some approaches are promising, their mapping accuracy in resolving semantic heterogeneity must be improved to realize the promised benefits of XBRL. Considering this limitation and following the design science research methodology (DSRM), we develop a novel framework, XBRL indexing-based mapping (X-IM), which takes advantage of the representational model of representation theory to map heterogeneous XBRL elements across diverse XBRL filings. The application of representation theory to the design process informs the use of XBRL label linkbases as a repository of regularities constitutive of the relationships between financial item names and the concepts they describe along a set of equivalent financial terms of interest to investors. The instantiated design artifact is thoroughly evaluated using standard information retrieval metrics. Our experiments show that X-IM significantly outperforms existing methods

The Prediction Of Future Earnings Using Financial Statement Information: Are Xbrl Company Filings Up To The Task?

Financial statement data for large companies became available to the public in XBRL format starting in 2009 in the United States. Proponents of XBRL, along with the SEC, argue that XBRL filings offer several advantages over data provided by data aggregators, such as lower cost, faster availability, and broader coverage. The purpose of this study was to contribute to the combody of knowledge by investigating whether current XBRL company filings are useful in the prediction of future earnings and to attempt to interactively obtain the balances of 70 accounting concepts needed to create an earnings prediction model from a sample of XBRL filings. Current XBRL filings do not allow for interactive extraction of required accounting elements because too many accounting elements are missing from the XBRL filings. Accordingly, an additional data set was created by manually populating missing accounting concepts within the XBRL filings if sufficient component accounting concepts existed within the same XBRL filing (e.g., if current liabilities and long-term liabilities were tagged in the XBRL filing, total liabilities could be calculated). This process mimicked what could be performed by added functionality built directly into the XBRL taxonomy. This functionality would not create any excess time, effort, or cost for preparers or users. This fully populated XBRL data set allows the user to create earnings prediction models interactively, whereas the current XBRL data set does not. This indicates that current XBRL company filings are likely to be limited in their usefulness in other areas as well, while a more fully populated set of XBRL company filings that includes additional data has the potential to improve the usefulness of XBRL data

Applying XBRL in an Accounting Information System Design Using the REA Approach: An Instructional Case*

The Church in Somewhere (CIS) is a small community church which uses an Excel spreadsheet to keep its financial records. The church administrator is considering moving from a spreadsheet accounting system to a relational database system that can easily be expanded to include more information in the future. In this paper we examine the transforming process in this hypothetical case by following a resource‐event‐agent (REA) modeling paradigm to create a database. We then link the REA model to financial reporting using Microsoft Access. In addition, using the financial report in the database, students prepare and validate an eXtensible Business Reporting Language (XBRL) document for CIS. Instead of applying the complex U.S. Generally Accepted Accounting Principles (GAAP) Taxonomies, Release 2009, the case uses a dedicated CIS Taxonomy to complete the mapping and tagging processes.L’application du XBRL dans la conception d’un système d’information comptable selon le modèle ressource‐événement‐agent: cas didactiqueRésuméChurch in Somewhere (CIS) est une petite église communautaire qui utilise un tableur Excel pour tenir ses registres financiers. L’administrateur de l’église songe à passer du système comptable du tableur à un système de base de données relationnelles susceptible d’être facilement élargi de manière à recevoir ultérieurement davantage d’informations. Dans ce cas hypothétique, les auteurs examinent le processus de « conversion », en suivant le paradigme du modèle ressource‐événement‐agent (REA), menant à la création d’une base de données. Ils relient ensuite le modèle REA à l’information financière par le truchement de Microsoft Access. En se servant du rapport financier de la base de données, ils fournissent en outre aux étudiants l’occasion de préparer et de valider un document XBRL pour CIS. Plutôt que d’appliquer les taxonomies complexes des PCGR des États‐Unis, édition 2009, les auteurs utilisent dans leur cas une taxonomie propre à CIS pour réaliser les processus de cartographie et de codage.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/135982/1/j.1911-3838.2010.00004.x.pd

The Research on Utilization and Interoperability of XBRL Taxonomy Elements of Listed Companies Financial Report

This article is based on the research on utilization and interoperability of Chinese XBRL taxonomy elements focusing on the improvement of the insufficient XBRL taxonomy elements The authors believe that increase the number of XBRL taxonomy elements can enhance the interoperability of financial reports and accuracy of compiling XBRL software element

An Analysis Of Student XBRL Project Teams: Value-Adding Educational Experiences Using Emerging Technology

Extensible Business Reporting Language (XBRL) is a new approach that offers great promise for a fundamental improvement to the way in which financial information is maintained and reported.  With every innovation, comes the need to educate.  Because of the overarching aspects of XBRL and its implications, a team learning approach is appropriate.  This paper presents a case study of three student projects that resulted in the development of XBRL applications.  An analysis is provided of the teams, the projects, and important lessons learned

Hard Rules and Soft Rules for XBRL

In January 2009, the SEC issued its final mandate for conversion to XBRL standards for financial statement reporting. However, the implementation has been painfully slow in the United States. In this article, I will investigate the factors impeding the XBRL conversion progress. I will recommend some available XBRL software for the “bolt-on,” “built-in,” and “deeply embedded” implementations. I will also try to help the readers understand all the major components of the XBRL taxonomy

Guidance for the Corporation Tax Online ServiceTable of Contents

2.1 What to do if a company became a ‘larger SME ’ during an AP straddlin

An Ontological Approach to XBRL Financial Statement Reporting

As a standard for the exchange, transmission, and reporting of accounting and financial data, XRBL goes a long way towardstandardization. However, as the extent of contemporary financial markets is now global, XBRL reporting must transcend oraccommodate differences in reporting standards. While XBRL has been of great help in standardizing the presentation of theU.S. GAAP and IASB standards, reconciling meaning between these standards is still a manual and error-prone affair. As awide variety of stakeholders, spanning countries and cultures, will likely take part in digesting XBRL-formatted financialreports; how will they participate at an appropriate level that is meaningful for them? This paper focuses on an ontologicalapproach towards solving this problem by offering an XBRL ontology architecture for translation between XBRL formats.The architecture is explained, evaluation criteria offered, and future research towards realizing artifacts which use thisarchitecture are proffered

XBRL: Origins, implementation and acceptance

A brief overview of the origins of modern accounting are examined with it’s genesis in the Italian Renaissance. During this time period, trade and commerce expanded and new methods for tracking and recording transactions became necessary. Double entry bookkeeping was first documented by Luca Pacioli in 1458. Innovative Italian merchants and scholars of this time period have become known as the fathers of modern accounting. eXtensible Business Reporting Language (XBRL) is currently the revolutionizing concept in the modern accounting world. Originally, known as Extensible Financial Reporting Markup Language (XFRML) in 1998, it was a prototype language created by the early users of eXtensible Markup Language (XML). The origins of XBRL will be examined in greater detail as the paper progresses, as well as, some of the underlying framework regarding the coding structure and technologies. The implementation of XBRL in industry will be addressed and how it is compared to any new technology in respect to market adoption and timeliness. The Technology Adoption Curve allows for one to estimate which stage and what time frame is associated with widespread acceptance and utilization. Taxonomies add complexity to the process, but cost savings and data accuracy and reliability are benefits derived via XBRL adoption and implementation. The acceptance of XBRL within the U.S. and throughout the world will be evaluated. The variance in accounting principles and the standardization of XBRL codes are vital variables to be examined. The XBRL movement is already underway throughout the world and certain data will be examined reflecting this trend of acceptance and usage. The XBRL progress within the U.S. will also be examined, including the SEC’s current view on reporting in XBRL format