EBR. Enhanced Business Reporting.

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Codice Prodotto
Anno di edizione
VIII - 44
Area di interesse
Economia e aziende
4,00 €
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The aim of the paper is to analyze the connection that links financial performance, adoption of IFRS standards and XBRL language. The first point is that the adoption of IFRS standards greatly improved the disclosure of performance information itself. The very next step is to emphasize the relevant role of XBRL in improving business reporting. By means of XBRL, it is possible to create and diffuse Enhanced Business Reports (EBR) and to provide a sound framework for the measurement and evaluation of Business Performance by means of a specific set of Key Performance Indicators (KPIs). In particular, we emphasized the potential benefits of the use of XBRL in providing integrated reports in a more timely and accurate manner. While the current GAAP reporting model provides an effective foundation from which business reporting should start, timely decisions can only be made by looking at both lagging indicators and leading indicators, which provide more predictive information about future cash flows and the viability itself of a business. The development of XBRL taxonomy by EBRC and WICI may produce benefits because the high level items within this framework can be "tagged". XBRL enables providers and users of information to produce, capture and analyze information much more efficiently and effectively on a timely basis and across all software via the Internet. Coupled with the Internet - which allows key financial and nonfinancial business information to be widely available electronically - XBRL will enable a more effective utilization of financial disclosure.

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