Research On Application And Optimization Of XBRL Financial Reports In Commercial Banks

As a new technology in the field of the accounting information, Extensible Business Reporting Language(XBRL) shows great potential for development, and has attracted considerable attention from domestic and international government departments, academics, businesses and community groups. To keep pace with the development of XBRL, Ministry of Finance of the People’s Republic of China has gradually developed a series of standards dealing with the generalization and application of XBRL, which vigorously promotes the development process of the accounting information.Banking with fast growing speed in the field of the accounting information, is one of the suitable industry for the application of XBRL. Introduction of XBRL to banking can not only change the way of data acquisition and analysis, but also cut costs and improve efficiency. As an important part of banking, Commercial banks has devoted efforts to the study of XBRL for a long time, and actively implemented policies to promote XBRL in the application of the financial report. Based on the above background and significance, this paper analyzed and discussed the application of XBRL financial reports in commercial banks.Firstly, this paper gave a brief overview of XBRL financial reports, including the technical basis, the components, the basic principle and the advantages. The paper introduced the technical basis of XBRL financial reports through Extensible Markup Language(XML), and described the technical framework of XBRL financial reports from technical specification, taxonomy and instance document. Then it detailed the basic principles of XBRL financial reports, and finally analyzed the advantages of XBRL financial reports compared with traditional financial reporting from two perspectives of view, one is transmitters of financial information, including report providers, report users, report regulators; the other is the quality of financial information, including specification, comparability, timeliness.Secondly, this paper compared the current situation in the application of XBRL financial reports in banks of the Asia-Pacific, Europe, America, and China, and summed up the three factors of the successful application of XBRL financial reports in foreign banks. First, a solid theoretical framework is the basic of the application of XBRL financial reports; second, a sound XBRL validation system is the guarantee of the application of XBRL financial reports; third, compulsory promotion from government departments is the power of the application of XBRL financial reports.Thirdly, this paper did a systems research on the application of XBRL financial reports in Commercial Banks, which consist of four specific aspects as creating an extension taxonomy, the instance document, checking extension taxonomy and the instance document,and application results. Both subjectivity and objectivity issues of the application of XBRL financial reports in Commercial Banks were analyzed respectively. Subjectivity issues include the insufficient dynamic for the application of XBRL and the lack of professional knowledge of XBRL; objectivity issues originate from the inadequate of the application of XBRL.In the end, this paper is aimed at existing problems and based on the necessity of integration of XBRL into financial information system of commercial banks, it introduces the basic process of XBRL integration with financial information system of commercial banks, and proposed an integration scheme and the top-level design. To implant XBRL into the financial information systems by embedded technology, it created a relational database as a data storage interface between them, and a mapping layer to map XBRL data to the relational data. Finally the paper analyzed both the advantage and the challenges of the integration scheme.