Analysis of Uses and Limitations of Mechanism of Extraction of XBRL Data in Financial Research

AUTHOR(S):

TITLE

Analysis of Uses and Limitations of Mechanism of Extraction of XBRL Data in Financial Research

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.

KEYWORDS

XBRL Parsing, financial statements, data extraction, data verification, XBRL data

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Cite this paper

Igor Pustylnick, Oksana Temchenko, Sergey Gubarkov. (2017) Analysis of Uses and Limitations of Mechanism of Extraction of XBRL Data in Financial Research. International Journal of Economics and Management Systems, 2, 292-301