EXtensible Business Reporting Language: a study of trend and implementations

Abstract

Digitalisation has altered the ways businesses operate and exist in the changing times of technology advancements. With businesses becoming more diverse and expanding across boundaries, a continuous need has been felt by different countries and organisations around world to adopt a standard way of recording the information. Hence there is increase in the pace of XBRL adoption by different countries. From the beginning of 2021 only, capital markets of 21 different countries have implemented XBRL projects. In light of this, the present study aims to study the trend and pattern of research made on XBRL from the year 2000 to 2021. Further, the evaluation of the extent of implementation of XBRL projects across countries, with special reference to India will also be carried out. The results revealed that in the initial years, an increasing trend in rate of publications was been registered. But after 2012, a fluctuating pattern in the rate of publications was noticed. On the other hand, with regard to implementation across countries, till date 184 projects have been implemented across 60 countries. With reference to India, Reserve bank of India, Ministry of Corporate Affairs, different stock exchanges, Securities and Exchange Board of India and criminal investigation department of Maharashtra have implemented a number of XBRL projects since 2009. Keywords: XBRL, project, trend, digitalisation, countries