Situation In China's Listed Companies In XBRL Implementation, Problems And Countermeasures

The21st century, with the continuous development of network informationtechnology, there is a huge influence on all aspects of the social economy. All aspects ofenterprise production management gradually realize the informationization, the efficiencyof the operation of enterprise is greatly increased. As the core of enterprise management,financial management is the first step in the enterprise information’ construction, theinformation level has a great influence on the enterprise competitiveness. At present, mostenterprises have their own financial management system, it is advantageous to theenterprise internal financial management, but the lack of a unified information sharingplatform, make it is difficult to transform and sharing information between enterprises,between enterprise and the government and investors, enterprise need make differentfinancial reports according to different needs, and it is not conveniently for informationusers’ mining and analysis of data. The birth of XBRL, bring about a great change at thepresent situation. based on standardized platform of the XML language technology, make itis realization for the rapid transformation of the information data and retrieval. XBRL alsocan automatically generate related financial documents according to the needs of differentusers, improve the efficiency of information transfer and accuracy. XBRL, with its uniqueadvantages in the global rapidly developed, however, as a new thing, its theoretical andtechnical is lacking, can’t avoid to meet problems. Only by constantly find and solve theseproblems can promote the further development of XBRL.This paper mainly studies the application of XBRL quoted company in our country,the quoted company play an important role the application of XBRL in our country, it alsois the headstream on the information chain. The application of XBRL is facing muchproblems now. It is urgent need to solve the problems. In the situation of application ofXBRL in our country, there are problems as follows: lacking of XBRL technology;classification standard is not perfect; the lack of relevant talent, publicity; the enthusiasm isnot high enough. XBRL application is in the primary stage in our country, its furtherpromotion and development need a longer process. This use Baoshan Iron and steel co.,LTD.(stock code:600019, hereinafter referred to as Baosteel) as a case to study about thestatus of application of XBRL in our country, explore the problems, analyses the reasons ofthe problems, and find some countermeasures and Suggestions to solve these problems.