Izvorni znanstveni članak
https://doi.org/10.1515/bsrj-2015-0009
XBRL Standard for Financial Reporting in Croatia: Current State and Perspectives
Dejan Gostimir
; Zagreb School of Economics and Management, Zagreb, Croatia
Sažetak
Background: Harmonization and standardization is becoming important among regulators and business community. XBRL has entered the global stage as a financial reporting standard. Its mission was to standardize the financial reporting, lower the reporting costs and make the reporting as transparent as possible. Objectives: The goal of the paper is to review the current usage of XBRL as a standard worldwide and to give an overview of its current state and perspectives in Croatia. Methods/Approach: The secondary research method for examining XBRL as a standard has been applied in this work. Results: The European Union embraced XBRL as the only standard that will be used for mandatory financial reporting and as such it is implemented in EU legislation. Croatia is a new member state and XBRL usage, which is still limited in Croatia, presents one of the country’s challenges. Conclusions: XBRL is the new standard for financial reporting that has had its place and usage in practice for several years now. It is adopted as a mandatory reporting standard in in most countries of the world, but not without barriers.
Ključne riječi
eXtensible Business Reporting Language (XBRL); extensible markup language (XML); financial reporting standard; financial information; Europe; Croatia; perspectives
Hrčak ID:
146900
URI
Datum izdavanja:
15.9.2015.
Posjeta: 1.753 *