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XBRL: A New Global Paradigm for Business Financial Reporting

XBRL: A New Global Paradigm for Business Financial Reporting

Chunhui Liu
Copyright: © 2013 |Volume: 21 |Issue: 3 |Pages: 21
ISSN: 1062-7375|EISSN: 1533-7995|EISBN13: 9781466633216|DOI: 10.4018/jgim.2013070104
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MLA

Liu, Chunhui. "XBRL: A New Global Paradigm for Business Financial Reporting." JGIM vol.21, no.3 2013: pp.60-80. http://doi.org/10.4018/jgim.2013070104

APA

Liu, C. (2013). XBRL: A New Global Paradigm for Business Financial Reporting. Journal of Global Information Management (JGIM), 21(3), 60-80. http://doi.org/10.4018/jgim.2013070104

Chicago

Liu, Chunhui. "XBRL: A New Global Paradigm for Business Financial Reporting," Journal of Global Information Management (JGIM) 21, no.3: 60-80. http://doi.org/10.4018/jgim.2013070104

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Abstract

Ranked as one of top ten technologies for accounting and auditing professionals, eXtensible Business Reporting Language (XBRL) is a freely available, open, and global standard language for exchanging business financial information digitally. XBRL holds the greatest promise for building a global standard that is pledged to enhance the accuracy, reliability, efficiency, accessibility and availability of electronic communication of business financial data. This paper sets out to provide a review of literature to lend insights into our understanding of XBRL adoption, implementation, and value realization assessment. A comprehensive review uncovers four sub-themes of research in XBRL adoption: perceived benefits of XBRL adoption; organizational readiness; external pressure; and XBRL adoption. Research challenges for future research are highlighted.

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