XBRL Format Research Articles

ACCOUNTING IN THE CONDITIONS OF DIGITALIZATION

The article examines the most common digital technologies and software products used in accounting that have a significant impact on the development of modern business. The changes in modern accounting practice caused by the digitalisation process are considered. It is found that digital transformation has become relevant not only at the corporate level, but also at the sectoral and even the state level. It is aimed at simplifying the processing of large data sets, automating almost all activities, and improving the interaction between customers and businesses, citizens and the state. The essence and trends of digital transformation processes are disclosed. It is determined that companies are currently offered a wide range of accounting software. In particular, accounting applications are integrated into enterprise management software products used to prepare and publish financial statements in XBRL format, organizing of electronic document management, computer information, reference materials and legal documents. The article analyses the latest advances in the evolution of information technology, including machine learning, blockchain technology and artificial intelligence. These innovations are contributing to a revolution in accounting, making it more efficient, reliable, accurate and cost-effective for business. It has been determined that the digitalization of the accounting business has caused significant changes in the work of accountants, in particular through the automation of many routine tasks. This stimulates the reform of accounting education to meet the future requirements of the accounting services market. The firms providing accounting services should try to be more proactive in implementing changes to meet the anticipated needs of consumers in the future. The challenges for the accounting profession are reflected in the need to rapidly adapt and transform business practices and business processes without abandoning the basic rules and principles of accounting.

PRESENTING FINANCIAL INFORMATION IN DIGITAL FORMATS AS A BASE FOR ANALYSIS AND AUDIT OF BUSINESS ACTIVITIES OF ENTERPRISES

he digitalization era of public relations is increasingly affecting the means of presenting information about the economic activities of an enterprise, in particular financial, in the context of a global pandemic, which was caused by the global COVID-19. Increasingly, in our environment, there is a transition from paper to electronic information carriers. The financial information generated by business entities both in Ukraine and in the world as a whole is no exception.The purpose of the study is to systematize the existing digital formats for presenting financial information as a basis for analyzing and auditing the business activities of enterprises in Ukraine.The basis of the study is the methodological recommendations on the use of Taxonomy UA XBRL IFRS, instructions for the revision of the Ukrainian IFRS taxonomy, specialized software products, legislative framework of Ukraine. The following methods were used: graphical (to visualize the results of the study), and grouping (to systematize the advantages and disadvantages of software that uses tax services to conduct e-audits)./Digital formats for the presentation of financial information were analyzed. They are the basis for the analysis and audit of the enterprise's activities. The structure and characteristics of the legal framework for the disclosure of financial information in electronic XBRL format in Ukraine were given. Comparative analysis of financial information in digital format XBRL and SAF-T UA were carried out.It has been determined that XBRL can be used as a basis for analyzing financial information in electronic format using special software, for example, to assess the financial condition, calculate indicators of financial stability, liquidity, solvency, business activity, enterprise profitability, etc. It has been proved that the electronic format of financial information SAF-T UA is used when conducting an electronic audit (e-audit) of taxpayers, and can also be used to calculate the tax burden (tax return, tax efficiency ratio) used by the State Tax Service of Ukraine for the purpose of control completeness of calculation and payment of relevant taxes and fees to the state budget.

The Role of the XBRL International Consortium in Digital Reporting Regulation

The last years of our century are marked by the beginning of a wide and active use of the open standard of business information exchange XBRL (eXtensible Business Reporting Language) in the world communication practice. Since this format is recognized by economists and information technology practitioners as a flexible reporting tool for integrating financial and non-financial information in accordance with the stakeholders’ needs, the format is evolving and spreading due to the activities of the XBRL International consortium. The aim of the study is to identify the key stages in the reporting transformation in line with the transition from prioritising the form of information presentation to the dominance of the content aspect. The scientific cognition and special methods of research were used in the paper, namely deduction, induction, comparison, analysis synthesis and graphical methods. The study determines the role of the XBRL International consortium in promoting a new reporting format in cooperation with regulatory authorities and business community representatives. XBRL format possibilities for both automating reporting and internal controls documentation are revealed. The definition of XBRL consulting is proposed. The study might be useful to the specialists engaged in the analysis of consulting service market and new technologies in accounting and reporting.

Taxonomy of Financial Reporting in the Context of Digitalization of the Economy: Domestic and International Analysis Scientific Research

Abstract A clear manifestation of the technological revolution 4.0 in the context of digitalization of the economy is the use of digital, electronic, or IT-oriented versions of financial reporting. Today, the harmonization of national accounting systems and the formation of financial statements around the world is carried out through the implementation of International Financial Reporting Standards by moving to the preparation of financial statements in a single electronic format – eXtensible Business Reporting Language (XBRL). The introduction of a new financial reporting system in XBRL format requires appropriate understanding and some practical adaptation. At the same time, the study of the use of the concept of “taxonomy financial reporting” in scientific works remains insufficiently developed. The article aims to study the quantitative and qualitative structure of the documentary flow of scientific periodicals on the keywords “taxonomy financial reporting”. The method of bibliometric analysis was used to conduct the study. The source of the bibliometric analysis of the documentary flow of scientific periodicals are publications from the scientometric database Scopus in the period between 2001-2021. As a result of the selection, data were obtained on scientific articles that were exported for processing into the computer program R (bibliometrics package). According to the results of quantitative analysis, 156 publications were received, the vast majority of which were scientific articles. It was found that the main areas of research on the taxonomy of financial reporting are: taxonomies, XBRL, financial reporting, and administrative data processing. The largest clusters appear around these keywords. It has been established that scientific cooperation on this topic is becoming closer, which contributes to the formation of geographical clusters, the three largest of which are united around the United States, Italy and the United Kingdom.

NON-FINANCIAL REPORTING AND DIGITALIZATION, KEY FACTORS IN STAKEHOLDER ENGAGEMENT

Because of its huge potential influence on consumers, society, and businesses, digitalization has been named "the fourth industrial revolution." In terms of businesses, digitalization provides the possibility to employ digital technology to transform company models and generate new income and value. However, digitization brings with it opportunities and challenges. For example, the digitization of services and the large collection of customer information might provoke skepticism and distrust among stakeholders, threatening the company's income. One way for companies to overcome this problem is to build a strong reputation through sustainability reporting. Sustainability refers to the inclusion of social and environmental concerns in business operations and stakeholder interactions. As a result, sustainability reporting may be a powerful tool for increasing stakeholder trust and capitalizing on digital prospects. The paper examines the effects of digitalization and non-financial reporting on stakeholder engagement. To address the research query, we conducted a thorough content analysis of company reports. It was crucial to employ empirical research to comprehend how stakeholder engagement evolves within nonfinancial reporting and digitalization. The first part of the study describes and evaluates the linkages between corporate digitalization, nonfinancial reporting, and stakeholder engagement based on qualitative data analysis of sustainability reports. The sample comprised sustainability reports from companies listed in the BSE BET-Index. The second part of the study is based on the same sample of companies. The company's financial reports published on their website and the BSE website were analyzed to see if the companies have published their financial reports in XBRL format and if they can be found on the iXBRL site. Most companies currently give high priority to self-reported non-financial data and provide annual non-financial reports. After conducting the study, we can say that the companies not only acknowledge the importance of innovation but also demonstrate the capability to identify opportunities for global collaboration to improve their offerings and set themselves apart from competitors. The merging of sustainability and digitalization is pivotal for sustaining competitiveness and creating value for stakeholders.

The effect of XBRL adoption on corporate tax avoidance: empirical evidence from an emerging country

Purpose This paper aims to study the impact of the adoption of eXtensible Business Reporting Language (XBRL) on corporate tax avoidance. Design/methodology/approach This paper used a quantitative method with panel data regression models using a sample of firms listed on the Indonesia Stock Exchange from 2011 to 2018. Findings The regression results demonstrate that XBRL implementation does not have any impact on corporate tax avoidance. The results indicate that tax avoidance is not reduced following XBRL adoption. This report shows unexpected and unfavourable outcomes of XBRL financial reporting in a developing country. Research limitations/implications This study employs a sample of firms from one emerging country only. Practical implications The study proposes several implications for using XBRL in tax reporting, which may help the tax authorities reduce tax avoidance. Regulators need to develop adequate taxonomies with standardized extensions related to tax information in the XBRL format. They include tax tags from financial statements and tax tags from the disclosure section, to gain more comprehensive corporate tax information. Originality/value This study proposes and tests an explanation for the effect of XBRL adoption on corporate tax avoidance in the context of a developing country.

Features of Supervisory Reporting of Professional Securities Market Participants

The relevance of the research topic is due to the fact that since 2013, the Bank of Russia which acts as a mega-regulator of the financial market, has been delegated the powers to exercise supervision and control over it, including over the activities of its professional participants. Since the work of the latter is associated with the use of not only their own funds, but also with the attraction of clients’ funds, it is important to have constant control over their activities, where the main source of information is reporting. Supervised organizations are required to submit to the Bank of Russia not only accounting (financial) statements but supervisory statements as well. It makes possible to form a more complete picture of their activities. The goal of the study is to review the current composition and procedure for submitting supervisory and statistical reporting by professional participants in the securities market. The author uses methods of comparative and system analysis of scientific publications, regulatory and legal sources. Currently, there is an improvement in the legal regulation of the supervisory reporting of professional participants in the securities market. The Central Bank of the Russian Federation is implementing a project to switch non-bank financial institutions to an electronic reporting format based on eXtensible Business Reporting Language (XBRL) specifications [1]. This allows to present more reliable and high-quality reporting data, increase the openness and transparency of the financial information provided by financial market participants. The project includes a sequential transition for all non-bank financial institutions but XBRL reporting is already mandatory for a number of institutions. As a result, the concept of “supervisory-statistical reporting” and the content of reporting forms. Also, the author identified the advantages of using the XBRL format and the complexity of its implementation in supervised organizations. The conclusion was made about the need to improve the legal regulation and expand the scope of digital technologies.

РОЛЬ ФОРМАТА XBRL ДЛЯ КОНТРОЛЯ КАЧЕСТВА ОТЧЕТНЫХ ДАННЫХ НЕКРЕДИТНЫХ ФИНАНСОВЫХ ОРГАНИЗАЦИЙ

Quality control of reporting data is the most important task of each organization individually and the supervisory authority as a whole. Since 2015, the Bank of Russia has been implementing the transition of non-credit financial organizations to submit reporting data in XBRL format by supervised organizations. It is aimed at improving the quality of reporting data. This is provided by the architecture of the taxonomy structure of the XBRL format of the Bank of Russia and control ratios of indicators implemented both inside and outside the taxonomy.

Examining the Impact of Revised XBRL Mandate on the Performance of Firms in India

Extensible Business Reporting Language (XBRL) is becoming increasingly popular in the area of financial accounting data. On 2 May 2018, it was announced that public listed companies (PLC) must document their reports in XBRL format at the three cross-country exchanges, namely, the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and MCX. This article examines whether such PLCs' operational performance has improved since the mandate began. The performance variables of the company are investigated. Our findings reveal that the XBRL-adopted PLC's success is mostly driven by growth (sales revenue) and size (size of assets), with the XBRL mandate having a substantial impact. The greater transparency of financial reporting information, according to our findings, may act as an external monitoring role. The government and Ministry of Corporate Affairs (MCA) should effectively understand future trends and strengthen XBRL adoption.

Reporting Technologies and Textual Readability: Evidence from the XBRL Mandate

The eXtensible Business Reporting Language (XBRL) can standardize numerical disclosures and make it easier for computers to process and compare financial reports. This perceived benefit of XBRL has prompted the U.S. Securities and Exchange Commission to mandate that public firms must submit financial statements in the XBRL format as part of their financial reports. Leveraging the research opportunity created by the XBRL mandate, we examine whether financial reporting technologies affect how firms construct textual disclosures. We find that the initial adopters’ HTML-formatted annual reports become harder to read after the XBRL mandate. Further analysis reveals that this effect is concentrated among adopters with more quantitative disclosures, a smaller firm size, or a higher level of financial complexity. Importantly, we show that managers’ reduced attention to preparing HTML-formatted annual reports, rather than increased disclosures, is likely the explanation for this decrease in textual readability. We also find that the negative effect on textual readability persists at least in the subsequent year. Our findings suggest that the XBRL adopters need to pay attention to process optimization and technology enablement to mitigate the possible negative effect of XBRL adoption on the readability of financial reports.

Forming the Financial Reporting System of Issuers on the Basis of Taxonomy: Current Problems and Ways to Solve Them

The use of standardized financial reporting formats in a form convenient for international investors, in particular on the basis of taxonomy, is becoming increasingly common in the world, given the significant role of transparency for public investment and automated processing of branched statistical information on financial instruments. Implementation at the state level of significant changes in procedures, deadlines, formats for reporting information should take into account both the proper legal regulation of such changes and the availability of working infrastructure for the formation and submission of reports, sufficient time to adapt to changes in reporting entities, auditors, IT companies. Despite repeated postponements of the transition of Ukrainian companies to taxonomy-based reporting, there are numerous difficulties in implementing this project. Thus, the article’s objective is due to legal, financial and technological risks for many taxonomy-based reporting entities and the uncertainty of current and future procedures for adapting international reporting requirements in XBRL format for their application in Ukraine.
 The international experience of introduction of financial reporting on the basis of taxonomy is considered and the advantages of such format for all participants of information interaction (reporting subjects, state regulators, investors, financial intermediaries and users of financial services, subjects of information-analytical infrastructure) are determined.
 The current lack of expected benefits for Ukrainian issuers and investors is justified due to the preservation of duplication of reporting information in various formats, disorder of deadlines and reporting procedures, delay and omission of difficulties in implementing the Financial Reporting System.
 Measures are proposed to accelerate the efficiency of the Financial Reporting System, reduce legal and regulatory risks, avoid duplication of different forms and deadlines for reporting, expand the participants in the information interaction on the pilot launch of the project and prepare for regular taxonomy changes.
 It is planned to analyze the actual impact of increasing financial disclosure requirements by issuers on the investment attractiveness of the Ukrainian stock market (primarily the equity segment) and the quality of its information infrastructure in the absence of noticeable interest of issuers in public raising capital and circulation of their securities in the regulated market.

IFRS reporting in the conditions of digitalization of business processes

The article reveals the features of the introduction of digital technologies in the processes of disclosure of financial statements and providing access to information about the financial condition of business structures to key stakeholders. Emphasis is placed on the essence of the concept of taxonomy and generalized approaches to the application of taxonomy of financial statements that are submitted in electronic format and compiled in accordance with the requirements of international standards. The requirements of normative-legal documents to the application of taxonomy of reporting are investigated. The peculiarities of the application of application software in the process of compiling and submitting reports, in particular the possibility of using documents in Inline XBRL format, are highlighted. The features of the international standard eXtensible Business Reporting Language, which is designed to present financial statements in accordance with international financial reporting standards in electronic form, are summarized. The role of state regulators and experts in the development of the taxonomy of UA XBRL IFRS is determined. The essence and functions of the Financial Reporting System and reporting algorithm in electronic taxonomy format UA XBRL IFRS 2020 are revealed. to the Financial Reporting Collection Center. The presented software products used in the Financial Reporting System in the context of the following groups are analyzed and grouped: software for compiling financial statements; software for validation (verification) of financial statements; software for signing financial statements. The problematic issues that arise in domestic businesses in the process of implementing the taxonomy of financial reporting UA XBRL IFRS and areas of further research are identified.

Formation of XBRL reporting

Relevance of the research topic. At the present stage of transformational transformation of the economy, the issue with the use of the XBRL format in Ukraine, which is a prerequisite for successful interaction of enterprises in the global financial market and enhancing the competitiveness of domestic enterprises. Problem statement. The absence of the practice of applying taxonomy of financial statements in Ukraine, causes the relevance of this study. The developed countries of the world have already introduced this format, because it allows to make the reporting not only transparent and accessible to potential investors, but also convenient for analysis. Analysis of recent studies and publications. The process of functioning of the financial reporting system in the format XBRL is the newest, it was researched in works: Kuznetsova S. A., Borisenko A. A., Boyko R. V., Ostrovskaya O. A., Khatib E., Yassin M., Harber M., Marx B., De Jager P. and other. Highlighting unexplored parts of a common problem. Particular attention is needed to develop solutions that will minimize potential problems associated with the implementation and use of the XBRL format in Ukraine. Setting of the task, objectives of the research. Analyzing the implementation of XBRL format in Ukraine. Identifying prospects for using and setting the potential issues in the preparation of new financial statements using global experience. Research method or methodology. Dialectical methods of scientific cognition, collection and analysis of information and inductive method were used in the course of the research. Basic material presentation (results of work). The article defines the essence of the XBRL format, analyzes the stages of its implementation in Ukraine. Prospects and typical errors in the preparation of financial statements using the format have been identified. Measures have been developed to minimize the likelihood of occurrence and to overcome problems associated with its application, taking into account world experience. Areas of application of the results. The results of this study may be applied in the preparation of financial statements in accordance with the specified format. Conclusions to the article. All of the benefits of implementing XBRL far outweigh the impact of its application Its use in Ukraine shall allow reporting entities to properly prepare financial statements, adjust the requirement for duplicating financial statements while presenting to regulators, and help woo investors through formation of the qualitative financial statements.

XBRL reporting standard: implementation issues

The advent of electronic reporting has necessitated the use of a universal reporting standard. One of the trends in reporting development is the use of the popular XBRL format in most countries of the world. The article is devoted to the disclosure of the implementation of the XBRL reporting standard in Ukraine. For this purpose, the emergence of XBRL is briefly described, as well as its potential distribution in different countries of the world is evaluated. Based on the research of scientific works, as well as taking into account practical experience, the advantages from the implementation of XBRL are summarized for such user groups as government agencies, investors and company management. Taking into consideration the expectations of reporting users, the conditions of the implementation of XBRL are critically evaluated.This allowed us to distinguish four groups of issues: organizational (insignificant number of properly trained specialists); regulatory (approval of mandatory certification of software and specialists); software and hardware (deficiencies in the financial reporting system); financial (significant costs for the implementation of the XBRL standard). Their presence is also confirmed by the fact that the presentation of financial statements on the basis of a taxonomy according to international standards in electronic form for the reporting 2020 was postponed to 2021. The main directions of ensuring the effectiveness of the implementation and use of the XBRL format are identified, in particular the improvement of legal regulation, the development of telecommunications and its infrastructure, the training of specialists in the field of XBRL and IFRS as well as the ensuring the openness and transparency of enterprises and government bodies.

XBRL as a Digital Reporting Format for Economic Entities: International Experience and Russian Practice Abstract

The issue of global transformation of the traditional format of accounting (financial) and non-financial reporting (in the form of PDF reports) into an interactive digital format of business reporting is relevant. The article is devoted to the analysis of domestic and world trends in the development of reporting of economic entities in the digital economy and identifying the prospects for using XBRL as the main digital format of business reporting. The research methodology is based on the application of a system of scientific methods: analysis and synthesis, induction and deduction, comparison, a systematic and logical approach and the method of analogies and groupings. As a result of the study, the trend in the development of reporting by economic entities is determined. The study justifies the strengthening of the role of information technology in the formation of new conceptual approaches to the disclosure of the information contained in it by synthesizing the elements of volumetric representation (using the method of “multidimensional space”) and modern IT platforms. A review of the use of the XBRL format as a world language for business reporting in international and Russian practice is conducted. Based on the analysis of global XBRL development initiatives actively discussed in the world community, it is concluded that the XBRL format has firmly taken the place of the main digital standard for the formation and disclosure of information by economic entities of leading world countries, and its further development is an inevitable future in solving the problem of creating a modern interactive digital format of business reporting of foreign and domestic companies. The research results can be used by a wide range of national regulators, investors and financial market participants, as well as international business and professional communities, with the practical transfer of all financial market participants to a single electronic format.

XBRL Mandate and Timeliness of Financial Reporting: The Effect of Internal Control Problems

Extensible Business Reporting Language (XBRL) is intended to make analysis easier and faster by enhancing the exchange of financial information. Such benefits from this global reporting standard would stem from more timely, accurate, and transparent financial reporting. This article investigates whether internal control weaknesses (ICWs) in firms have an impact on the timeliness of financial reporting in XBRL format. The results of our analyses show that the filing lags of firms with ICWs are longer than those of firms without ICWs for their first detail tagged XBRL disclosure. The results also reveal that firms with ICWs are more likely to use the grace period in their initial XBRL disclosures. The length of the grace period used by firms with ICWs is longer than that of firms without ICWs. Furthermore, our additional analyses reveal that the XBRL mandate has affected firms’ filing behaviors differently depending on firm characteristics such as firm size. Overall, our findings indicate that the impact of ICWs on the timeliness of financial reporting is greater under the mandated XBRL disclosure.

Development trends in public reporting during the digitalization

Subject. The article explores the impact of digitalization on the way public reporting of business entities develops. Objectives. The study reveals the substance of today's trends in the development of public reporting as ICT evolve. I also try raising the public awareness about the XBRL format to submit financial statements and integrated reporting. Methods. The study relies upon general methods of research, such as the analysis, synthesis, comparison, generalization, abstraction. Results. The article classifies development trends in public reporting classifying them by scale, inquiry of users, technological means. I determine why such trends arose in terms of technological means. XBRL is found to be a promising format for business data transfer, with difficulties in adopting it being studied by the Russian scholars, who specialize not only in accounting and financial reporting, but also in ICT. I unfold opportunities XBRL gives for sharing and distributing IFRS financial statements electronically. I also evaluate the potential of XBRL for circulating integrated reporting packages among users, though its adoption is impeded due to the non-existent taxonomy of integrated reporting. Conclusions and Relevance. ICT, modern communication means constructively promote public reporting. XBRL is widely spread internationally to release financial statements electronically, since the IFRS Foundation has outlined the IFRS taxonomy, which is constantly updated and adjusted for IFRS amendments. XBRL presentation of integrated reporting is indispensable without the uniform taxonomy of integrated financial reporting.

SUBMITTING FINANCIAL STATEMENTS OF ENTERPRISES IN XBRL

Notes to the financial statements are an important source of economic and accounting information. The tendency to information overload of notes causes a rethinking of their role and content, as well as a revision of regulations governing the process of submitting financial statements at the legislative level. There is an urgent need to improve the disclosure process for disclosure requirements to prevent duplication of information in the financial statements as a whole and to eliminate irrelevant disclosures. This contributes to the fact that the information in the notes is clear, consistent, can be compared both in the dynamics of the enterprise and with the enterprises of the industry. The article examines the scientific approaches of domestic scientists on the architecture of notes to financial statements, which takes into account the relationship between the level of objectivity risk and the level of information risk. Starting in 2019, companies that are required to report under International Financial Reporting Standards are required to file taxonomic financial statements in a single electronic XBRL format. The main legislative acts regulating the use of this format are analyzed. The article considers the key principles of using the HBRL format. Based on the study of information resources, the elements of taxonomy are described in detail with an explanation of their functions. Describes the purpose and identifies the main benefits of reporting in XBRL format. The article clearly considers the submission of reports in XBRL-format on the example of reporting of agricultural enterprises, the feature of which is the application of IAS 41 Agriculture. Namely, the main components of this format that need to be used are studied, as well as the sources of information for filling in the main blocks of notes according to this standard, taking into account industry specifics. It is determined that an important stage of reporting in XBRL-format is validation, which involves checking the compliance of the completed data. The article describes free resources for reading this format, as well as free software for the formation and validation of financial statements in XBRL-format. The need for training and retraining of specialists responsible for the process of preparing financial statements is emphasized.

Taxonomy of financial reporting in compliance with international standards: practical aspects

Financial reporting is an important part of economic life. The order of preparation and submission of financial reporting is formed under the influence of various factors, including the following ones: the state of the economy, the level of information technology development, the needs of stakeholders, and others. Strengthening of the trends in digital transformation of economy resulted in the emergence of new trends in financial reporting or certain modification of existing ones. The place and role of electronic format for submitting the financial recording according to XBRL Taxonomy in compliance with International Financial Reporting Standards are investigated in this paper. Creation of digital, unambiguous, accurate, and multiple versions of financial reporting is one of the main features of XBRL standard. Theoretical and methodological statements of XBRL format application for reporting based on IFRS Taxonomy are determined, its defining features and advantages are investigated. The prospects of XBRL technology use are proved, since business reports in this format facilitate the search of data for financial reporting on the Internet and the possibility of their automatic analysis. IFRS Taxonomy improves communication between compliers and users of financial reporting that comply with IFRS Standards. The distinctive feature of financial reporting based on XBRL electronic format is its flexibility, and therefore XBRL reporting is becoming more popular. The transition of domestic companies that are required to report under IFRS to statutory report in the XBRL Taxonomy format requires the assessment of their technical and resource capacities. Problematic issues on the way of introduction the taxonomy of financial reporting UA XBRL IFRS are outlined. Particularly, the need to develop software products adapted to the Ukrainian taxonomy is highlighted. Therefore, in Ukraine there is the growing need to train specialists with sufficient level of knowledge in both XBRL and IFRS. Further maintaining the trend of priority of the electronic reporting format will contribute.

The determinants factors of accounting practitioner’s attitude towards the use of Malaysian Business Reporting System (MBRS)

MBRS is a new submission platform introduce by SSM that enable the submission filings in XBRL format in Malaysia. However, since the introducing of SSMxT in 2014, the issue of XBRL format adoption by companies in Malaysia is still questionable especially regarding the attitude of potential users towards the use of XBRL format. Therefore, this study is try to examine factors of user attitude towards the use of MBRS. Accounting practitioners has been choose as unit analysis of this study. The data was collect ed based on multiple response questionnaire and analysed by using Statistical Package for the Social Sciences (SPSS). The findings of this study shows that perceived usefulness, and perceived ease of use are the factors influencing the attitude of the acco unting practitioners to use MBRS.