Electronic Data Format XBRL: Recent Development and Prospects in the EU

Veronika Staňková ()
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Veronika Staňková: University of Economics, Prague

A chapter in Digitalization in Finance and Accounting, 2021, pp 37-46 from Springer

Abstract: Abstract Recently the European Commission has given its endorsement new EU regulation mandating all companies listed on the EU market to codify its annual financial statements in the European Single Electronic Format (ESEF) that is based on the XBRL technology. Building on previous literature and documents published by the EU, the aim of this chapter is to introduce XBRL in financial reporting and provide an overview of the evolution of ESEF in the EU. Additionally, this paper identifies key benefits it can bring to the preparers and to the users of the financial statements, respectively.

Keywords: XBRL; Financial report; Transparency Directive; EU regulation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-55277-0_4

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DOI: 10.1007/978-3-030-55277-0_4

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