Development and Evaluation of a Prototype web XBRL-Enabled Financial Platform for the Generation and Presentation of Financial Statements according to IFRS
Elissavet Stergiaki, Athanasios Vazakidis, Antonios Stavropoulos

The main objective of IFRS is to provide a common qualitative accounting basis and to promote greater transparency and comparability of financial reporting across the world. However, the success of IFRS depends on how financial information flows within the company and in which format is represented to outside users. Therefore, accounting information systems and web financial applications should meet the qualitative criteria of IFRS. Also, it is necessary to introduce new advanced technologies that will be able to electronically describe the new "business language", XBRL. The purpose of this paper is to study accountants’ perceptions to use eXtensible Business Reporting Language (XBRL), investigating the implications of implementing an XBRL project in the Greek capital market. In addition, a pilot model for Web financial reporting, using XBRL, was developed and specifically evaluated. The results indicated that this pilot model is a financial environment where accountants can easily and quickly find, parse, edit and exchange useful and meaningful accounting information. This empirical study revealed that both: a) Greek companies by their prospective adoption of XBRL b) Greek capital market by implementing a sophisticated web financial reporting model seek for the generation and presentation of high quality accounting data.

Full Text: PDF     DOI: 10.15640/ijat.v3n1a5