An Integrative Review and Synthesis of XBRL Research in Academic Journals

Abstract

Extensible business reporting language (XBRL) was developed from an established markup computer language (eXtensible Markup Language, XML). XBRL facilitates data and information exchange between different information systems (IS). This important feature has attracted much research since the early 2000s. This article aims to provide a framework for XBRL research's contributions to information systems (IS). An integrative review is needed to draw an overall picture and canvas key findings regarding the various XBRL topics examined in past studies. Such a review also identifies research opportunities and guides future XBRL research. We conducted thematic analysis using an integrative literature review. A sample of 150 XBRL articles obtained from various peer-reviewed academic journals was used to understand past XBRL studies and suggest XBRL's future research direction. This article identifies and proposes four current XBRL research streams; namely, XBRL's impact on business, XBRL's adoption, XBRL's technical development, and XBRL education. This paper then examines the key findings of these XBRL papers, offers several potential areas where further investigation may be warranted, and suggests XBRL research-informed practices.

A Graph Mining Approach to Identify Financial Reporting Patterns: An Empirical Examination of Industry Classifications

“…Throughout the last decade, the Securities and Exchange Commission (SEC) has invested much effort in improving the quality of financial reporting by mandating the adoption of the eXtensible Business Reporting Language (XBRL) (Janvrin, Pinsker, & Mascha, 2013;Perdana, Robb, & Rohde, 2014). XBRL facilitates better financial disclosure and easier information exchange that allow accounting information users to analyze a firm's performance and future growth opportunities in a timely manner (Hodge, Kennedy, & Maines, 2004;Liu, Luo, Sia, O'farrell, & Teo, 2014).…”

Exploring XBRL-Based Reporting System: A Conceptual Framework for System Adoption and Implementation

“…Perdana et al [14] summarized potential effects of XBRL and divided the effects into three aspects: 1) accounting, 2) auditing, and 3) decision-making process. These affect three different parties: providers, intermediaries, and requesters.…”

“…Apart of the importance and benefits of XBRL, Perdana et al [14] highlighted that only few XBRL literature discussing its implementation in public organizations, where public organization can be considered as the requesting party or information users. Since most implementations of XBRL reporting system mandated by the government, there should be some information available that can be extracted concerning how implementation of this system affects their business processes.…”

XBRL Extension to the Financial Statement Notes: Field-based Evidence on Unlisted Companies

“…Additionally, focusing on information providers, XBRL could enhance financial reporting preparation and distribution since it facilitates publication of multiple financial statement formats, promotes transparency, and standardizes financial reporting. In such a perspective, previous academic research underlined XBRL contribution in enhancing information quality and integrity (Perdana et al 2015).…”

“…The development of XBRL has attracted the interest of academic accounting research since its inception with a significant increase in the last years, helping to raise awareness of XBRL potential to improve financial data and information exchange (Fradeani, 2009;Roohani et al 2010;Zambon, 2010;Perdana et al 2015).…”