WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 14, 2017
Analysis of Use of XBRL Based Accounting Data in Financial Research
Authors: Pustylnick I., Temchenko O., Gubarkov S.
Abstract: Since Extensible Business Reporting Language (XBRL) has become a language of mandatory statements submission in the U.S., it opened new opportunities for electronic parsing and auditing of these statements. We show the example of automatic extraction of the statement data and propose the improvements to the taxonomy based on Generally Acceptable Accounting Principles (GAAP) of the USA, which may be able to improve the extraction process.