The Research On Growth Enterprises Market Board Information Disclosure Model Based On XBRL

It is inevitable that Internet Financial Reporting will partly orcompletely take the place of reporting presented on paper in the21century.In this circumstance,the primary technological problem inInternet financial reporting is the ability to obtain information easily andtimely.Due to the weakness of HTML language,XML becomes aneffective platform that can solve many questions for its extensibility.From1999,AICPA began to develop a new language based on XML calledeXtensible Business Reporting Language(XBRL),to resolve the problemin collecting,transferring,repairing and analyzing accounting informationthrough Internet. Up to now, XBRL has made a great progress in theworld.XBRL technology is a new financial reporting model，which is aplatform of the standard content of the report for reporting andre-expression and does not change existing accounting standards. Itimproves the traditional financial reporting, and makes the parties ofaccounting information chain enjoy the convenience and efficiencybrought by information technology. In this paper, Firstly, the concept,technology trait, framework and advertence of XBRL are introduced andthe substance of information disclosure of Growth Enterprises Market(GEM) is also illustrated. Secondly, theory analyses on the evolution,development trend and defects of information disclosure model are made. Thirdly, based on the above analyzes, the application feasibility ofXBRL-based model of information disclosure in China’ s GEMtechnology, economic, organization management is analyzed. Finally，adiscussion on how to construct the XBRL information disclosure modelwhich is suitable for Growth Enterprises Market is made.This model solves the problem that PDF financial reporting can notreflect the compatibility, interactivity, speed and accuracy of information,and at the same improves the drawback that XBRL financial reportingcan not directly show non-financial information, which makes the needsof investors and all stakeholders are to be met as much as possible. Ofcourse，the smooth implementation of the model needs the furtherimprovements of XBRL taxonomy information elements and securenetwork implementation environment as a prerequisite. It is consideredthat under the encouragement of the Government, and the joint efforts oftheoretical circles in the accounting profession and practice, softwarevendors, more and more enterprises will use XBRL as a standardfinancial reporting model. At the same time, information disclosurecontrol departments should also take effective measures to promote thenetwork financial reporting of a virtuous circle, and reduce theinformation asymmetry in capital markets and enhance the transparencyof capital markets, thus to better protect investors to promote the healthydevelopment and continuous improvement of China’s capital market.