Study On XBRL Application Of Listed Companies In China

With the development of modern information technology and the constant innovation of network services, people have not satisfied with information accepted passive, but to get real-time, convenient, high quality information, in order to facilitate its extraction, processing and analysis. Therefore, the innovation of the disclosure of counting information model which regard the network financial report as the core will become the future trend of development. As the encoded language of accounting information from HTML to XML's progress, the model of network financial reporting is also the transition from the PDF to XBRL.Since the birth of XBRL in 1999, it launched a study around the world. With its strong vitality, XBRL has attracted more and more attention from countries, institutions and organizations. These countries start to drastic change and innovation for the realization of the disclosure of XBRL information. XBRL is from XML, it provides a standard platform for the network financial report, and it enables listed companies'collection, exchange, consolidation, and re-use of financial information become very convenient.In accordance with the definition of XBRL, it does not change the existing system of accounting standards, but a platform of expressing the standard contents of financial reporting. However, the XBRL financial reporting provided by present listed companies in China is just the change of the format of the disclosure of information, which does not touch the deep-seated reform of the means and contents of financial report.With the gradual improvement and maturation of China's securities markets, and the integration of financial sector, the investors rise new requirements for the quality and efficiency to the listed companies. When disclosing XBRL financial information, the listed companies first should evaluate the application performance of it. At the same time, the listed companies should consider whether the application of XBRL is feasible? How the prospects and return? How high of the risk and resistance?This paper begins with the origin and definition of XBRL, it describes the characteristics, effects, and technical framework of XBRL, and analyzes it is an inevitable trend that the network reporting model from HTML, PDF to XBRL. Then, from the point of view of the national macro-policy environment, technical and economic conditions, organization and management, it tries to analyze the feasibility of the application of XBRL. Highlighted: XBRL's own shortcomings is the root cause of hindering the promotion of XBRL in listed companies, the disclosure of XBRL information will face security risks, and it also will bring a series of obstacles for the wide application of XBRL. Finally, on the basis of this study, it strengthens the economic evaluation of XBRL for public companies to make the best economic decision-making, and enables the measures proposed to promote the improvement of XBRL. From the internal control point of view, the introduction of DRM, WSSM try to establish perfect security mechanisms and procedures of the disclosure of XBRL information, effectively preventing the risk and giving full play to XBRL's potential effects.