Research On The Application Of XBRL Financial Report In Listed Companies

The rapid development of computer and communication technology has greatly changed the way enterprises generate and exchange information,and various business models have been transformed to digital.Commercial information disclosure is no exception,XBRL financial report is gradually replacing the traditional PDF financial report.XBRL is a markup language that uses XML syntax to represent enterprise financial reports.It is an open standard and provides a semantic annotation method for enterprise business information.The information annotated by XBRL can be converted into computer-readable information.Therefore,users of financial information can easily transmit,copy and analyze these information electronically,which improves the efficiency of financial analysis.Firstly,this paper introduces the background of XBRL technology in our country from attracting attention to gradual application,combs the research of XBRL financial report in theoretical basis,classification standard and application effect,analyzes the theoretical basis of XBRL financial report disclosure,and comprehensively introduces the concept and function of XBRL technology.Secondly,it introduces the process of XBRL’s financial report disclosure and the current XBRL disclosure system in China.Through the analysis of XBRL system and XBRL software developed in China,combined with relevant policies,it summarizes the following problems in XBRL application in China:(1)the classification standards are not unified.(2)lack of public awareness.(3)XBRL information security is missing.(4)the development of XBRL related software industry lags behind.Thirdly, taking CNPC as an example,this paper introduces the preparatory work,XBRL system architecture and submission process of the company’s application of XBRL,specifically analyzes CNPC’s many changes and breakthroughs in the application of XBRL,as well as the advantages of implementing XBRL in CNPC’s management and disclosure of financial information,and finds that there are areas that can be optimized in the application of XBRL by CNPC put forward measures that can be improved at the enterprise level.Finally,this paper puts forward some suggestions to promote the use of XBRL in financial report disclosure and improve the level of XBRL technology in China.Most of the XBRL related literature in China is about research theory.The innovation of this paper is to start with the XBRL financial report disclosure policy and application in China,find out the common problems in the implementation of XBRL in Chinese enterprises,and then take the XBRL application of CNPC as an example,through the analysis of the XBRL application of CNPC,summarize the problems in the implementation process of CNPC,from macro to micro,From the whole to the individual,it is reasonable to prove the problems in the application of XBRL in China.The conclusion is more convincing,and the suggestions are more conducive to the progress of XBRL technology in China.CNPC is one of the first listed companies to implement XBRL financial report.This paper summarizes a series of problems in the application of XBRL,which reflect the defects of listed companies in the process of XBRL financial report disclosure.Therefore,in order to make XBRL technology play its role to the greatest extent,China needs to constantly improve and improve relevant systems in the process of implementing XBRL,ensure the safety of XBRL financial report,unify XBRL general classification standards as soon as possible,improve XBRL extended classification standards in various industries,vigorously cultivate XBRL professional and technical personnel,promote the research and development of XBRL professional software,and improve the current XBRL financial report system.