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Journal of Information Systems

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An Examination of Topical Coverage for the First Accounting Information Systems Course
This study examines topics currently addressed in the introductory Accounting Information Systems (AIS) course and makes comparisons to past studies. The study includes an examination of 12 current AI...

Impression Management with Graphs: Effects on Choices
Graphs are frequently used as decision aids. When properly designed, graphs facilitate decision making by highlighting important trends and relationships in the data. It is all too easy, however, to d...

Journal of Information Systems / Volume 16 / Issue 2 / PRACTICE ARTICLE

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Does the Year 2000 XBRL Taxonomy Accommodate Current Business Financial-Reporting Practice?

Journal of Information Systems 16 (2), 165 (2002);
doi: 10.2308/jis.2002.16.2.165

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Matthew Bovee, Michael L. Ettredge, and Rajendra P. Srivastava
University of Kansas.

Miklos A. Vasarhelyi
Rutgers, The State University of New Jersey.

XBRL (eXtensible Business Reporting Language) is an application of XML (eXtensible Markup Language) intended for use in digital business reporting. Observers predict XBRL will provide benefits to firms that adopt it, such as enhancing information use, facilitating comparability and consistency, and providing technological capability for near-continuous financial reporting through the Web. However, questions arise regarding how well the proposed taxonomy for financial statements corresponds to firms' preferred reporting practices. We argue that a poor fit may lead to information loss and to subsequent resistance to use or general adoption of the taxonomy. A lack of fit could therefore negate anticipated firm or information-user benefits.To address this issue, we assess how well the year 2000 version, for financial reporting by commercial and industrial (C&I) firms under U.S. GAAP, accommodates current financial-reporting practices of public companies. We attempt to match each line item in the 1999 annual financial statements of 67 companies with an XBRL taxonomy “tag,” employing two measures of the frequency of “special attention” (difficult-to-match) items as indicators of the quality of “fit” between the taxonomy and firms' reporting practices. Analyses show a good fit on average, but also indicate significant differences in the number and proportion of exceptions across financial statements and industries. In light of these results, we suggest modifications to the taxonomy and discuss the need for industry-specific taxonomies. ©2002 American Accounting Association

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http://link.aip.org/link/JINFE3/v16/i2/p165/s1

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ISSN:

0888-7985 (print)   1558-7959 (online)

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American Accounting Association

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