XBRL - Where is it Going?

By Philip H. Siegel and John O’Shaughnessy.

Published by The Global Studies Journal

Format Price
Article: Print $US10.00
Article: Electronic $US5.00

This paper discusses how eXtensible Business Reporting Language (XBRL) will impact the world of financial reporting. Because of the benefits of more timely and accurate information XBRL is an important aspect of future financial reporting and has proven itself to be a stable, efficient computer language. There is a paucity of research in this area and surveys have made it clear that corporations know very little about XBRL but all would welcome the benefits it provides. The FASB, the IASB, and the PCAOB all need to provide the knowledge and direction as to where financial statement reporting should proceed. XBRL’s promise of greater transparency and immediacy, along with its efficiency and ubiquity, could make it one of the leading tools in financial reporting.

Keywords: XBRL, Financial Statement Reporting, Extensible Business Reporting Language

Global Studies Journal, Volume 1, Issue 1, pp.69-74. Article: Print (Spiral Bound). Article: Electronic (PDF File; 567.865KB).

Dr. Philip H. Siegel

University of Wisconsin/Eau Claire, WI, USA

Philip Siegel is currently a Professor of Accounting at the University of Wisconsin/Eau Claire. He has a Ph.D. in accounting and is a CPA from the state of Florida. His research interests include quality of the work/life environment, mentoring and leadership in accounting; and international accounting. His research has been published in the Journal of Accounting, Auditing and Finance, the Journal of the American Taxation Association, Review of Quantitative Finance, Journal of Business Ethics, and others.

Dr. John O’Shaughnessy

Professor of Accounting, College of Business, Department of Accounting, San Francisco State University, San Francisco, CA, USA

John O’Shaughnessy is currently a Professor of Accounting at San Francisco State University. He has a Ph.D., CPA and CIA. His research interests include financial accounting and internal auditing. His research has been published in the Managerial Auditing Journal, International Journal of Accounting Information Science and Leadership, Internal Auditing and CPA Journal.


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