ABSTRACT

The evolution of business reporting has been marked by continuous technological advancements aimed at improving accuracy, efficiency, and transparency. This paper examines eXtensible Business Reporting Language (XBRL) as a critical interim solution in the digital transformation of financial reporting. By analyzing XBRL's technological framework, implementation approaches, and inherent challenges, the study explores its significant contributions and limitations in modern business communication. The research investigates XBRL's core components, including its XML-based architecture, taxonomy structures, and implementation methodologies, while critically assessing the people, software, data, and taxonomic challenges that organizations encounter during adoption. Furthermore, the paper explores emerging alternative technologies such as Inline XBRL, JSON-based solutions, cloud-based platforms, and the Open Information Model (OIM), which promise to address XBRL's current constraints. This literature review demonstrates that while XBRL represents a substantial improvement in financial reporting technologies, it is ultimately a transitional solution to cover all of business reporting. The research highlights the ongoing technological evolution, pointing to future developments in blockchain, artificial intelligence, and more flexible reporting frameworks that are poised to revolutionize how financial information is captured, processed, and communicated. By providing a nuanced examination of XBRL's role in the broader context of digital reporting, this paper contributes to understanding the dynamic landscape of business reporting technologies and their continuous adaptation to changing organizational and technological needs.

#XBRL #financialreporting #digitaltransformation #businesstechnology #reportingstandards

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