IFRS Taxonomy and financial reporting practices: The case of Italian listed companies

Diego Valentinetti and Michele A. Rea

International Journal of Accounting Information Systems, 2012, vol. 13, issue 2, 163-180

Abstract: XBRL taxonomies have a crucial role in digital financial reporting. On the one hand, they provide a unique set of computer-readable tags to allow the interchange of interactive information. On the other hand, a systematic, agreed-upon convention for naming each taxonomy tag is needed. In this context, the IFRS Foundation is playing a relevant role in developing well-structured taxonomies, which could simultaneously favor both the interoperability and the homogenization of the firms' financial information at the global level. Due to its importance, XBRL is being applied in many countries, but according to different implementation schemas.

Keywords: XBRL; IFRS Taxonomy; Taxonomy fit; Taxonomy extensions; Financial reporting in Italy (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijoais:v:13:y:2012:i:2:p:163-180

DOI: 10.1016/j.accinf.2011.09.001

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