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The present study is mainly focusing on the impact of XBRL reform on the quality of financial reporting in India. Due to this virtual reporting initiative there is no need for having traditional documents such as word, excel, purchase orders, invoices, cheque etc. And also it is avoidable to have physical reports and printouts because these are also can electronically generate.

So in this context it is necessary to emphasize on the disclosure of financial and non-financial information using World Wide Web through internet and today XBRL is the unique mode of disclosing financial and non-financial information to various end-users and enables them for easy analysis and meeting legal and statutory obligations. In India due to BRR Business Responsibility Reporting initiative, disclosure of financial and non- financial information under a single report has gained a greater importance so XBRL-India is in operation to develop the reporting language which is suitable for the IndAs and to meet the requirements of other regulating authorities.

The reporting based on XBRL-India Taxonomy had enhanced the quality of financial information to be disclosed to the end-users and gaining importance from the investors who are situated across the world. Here quality of financial reporting indicates there is more benefits than the cost incurred for financial reporting. The benefits of XBRL reporting is greatly enjoyed by users such as investors, creditors, tax authorities, financial analysts and preparers such as management, accountants and business as whole.

Reporting costs consists of costs of hardware, XBRL software, remunerations to accountants, training and educations costs, cost of internet access , cost of information security etc.

K and Joseph Sherer In their study they have analyzed that the effect of political- economic reform on the quality of financial reports in Egypt.

Also contributed theoretical aspect for shaping the accounting practices in socio-economic environment and investigated the influence of socio-economic factors on accounting and reporting processes in developing countries.

To analyze the data authors have adopted interpretive approach and they found that political-economic reforms in Egypt have negatively affected on the quality of financial reporting. Ana oluic and Mamic Sacer They collected date through structured questionnaire from large and medium size companies and other secondary sources. Collected data was analyzed through simple statistical tools such as averages, percentages etc. They also suggested for the improvement of some areas such as implementation of suitable training to employees and to conduct continuous auditing of information to ensure the quality of accounting information.

They analyzed the price data of 13 XBRL reporting agents to small reporting companies and compared between and results on reporting costs to small scale companies.

Mahdi Salehi and Elahe Torabi studied the role of use of information technology in financial reporting and the impact of use of IT on the quality of financial reporting. For the purpose of study, the authors have adopted both primary and secondary sources for data collection purposes. Finally, they found that the use of IT plays a vital role in financial reporting and enhanced the quality of financial reporting by ensuring timeliness and relevance through internet based reporting technique i.

Steve Yang etal. For the purpose of data, the authors have adopted secondary sources by analyzing 27, annual reports from 10 industries for the period Data collected was analyzed through content analysis, graph similarity measure, local outlier factor algorithm and Mann- Whitney U test were applied and they analyzed income statement, balance sheet and cash flow statement structure through XBRL SEC filings and found that there is significant improvement in structural comparability of financial statements and also witnessed that the XBRL filings benefits regulators in providing suggestions for continuous development of XBRL in USA.

Ernest and Harmon have analyzed and predicted the role of auditors which could be expanded with the introduction of XBRL financial reporting by their conceptual study. They have found that the steps involved in creating XBRL financial statements create additional risks in financial statement disclosure. For this reason, they are in the opinion that auditors will be required to adjust their process and also master XBRL terminology, taxonomies and tools.

Also suggests auditors to gain early and in depth knowledge of audit implications of XBRL which will give a strategic competitive advantage in the marketplace. Chunhui etal. So the present study is intended to fill the existing gap in the area of accenting research by conducting the study on the impact of XBRL reform on the quality of financial reporting system and on the quality of financial and non-financial information disclosures in India. Is XBRL enables to disclose both financial and non-financial information under single annual reports?

To examine role of XBRL on disclosing financial and non-financial information under single annual report. H0 : XBRL reporting does not significantly impact on the disclosure of financial and non-financial information under single annual report. Questionnaire method is employed for gathering the primary data. Books, journals, websites, news papers and other published sources are employed to gather the secondary information.

Descriptive and t-test statistics are applied to analyze and draw the conclusions. Respondents consist of academicians, chartered accountants, company secretaries, financial analysts and research scholars.

In the present study the sample size is less than 30 and which were selected based on convenience sampling method. So to test the significance of the hypothesis t-test is applied. Below shown tables are indicating the results of the t-test statistics. Error Mean Deviation 1. Do you agree that there is need for XBRL reporting for 24 1.

The homogeneity of financial reporting around the world will 24 1. XBRL reporting enables better, relevance, reliability and 24 1. Business opportunities will be enhanced due to 24 1. Do you agree that the mandatory XBRL implementation has 24 2. Group financial statements will be prepared easily through 24 2. XBRL Reporting enables better comparison of inter-company 24 1.

XBRL Reporting helps to avoid dual set of financial 24 2. XBRL Reporting will enable for easy analysis of financial 24 1. Internal audit will become easy 24 2. XBRL reporting reduces the overall cost of auditing of 24 2.

Do you agree that there is need for XBRL The homogeneity of financial reporting XBRL reporting enables better, relevance, Business opportunities will be enhanced due Do you agree that the mandatory XBRL Group financial statements will be prepared XBRL Reporting enables better comparison XBRL Reporting helps to avoid dual set of XBRL Reporting will enable for easy analysis Internal audit will become easy XBRL reporting reduces the overall cost of Source: Primary data The tables 01 and 02 show the results of one-sample t-test for testing the significance of hypothesis.

And reveals that the p-value of all variables are less than 0. And study concludes that XBRL reporting in India have positive impact on the quality of financial reporting system because it ensures the homogeneity of financial reports and enables for the firms for easy comparison ensures relevance, reliability, and transparency of financial information.

Deviation Std. Error Mean 2. XBRL reporting enables companies to implement integrated 24 2. XBRL reporting enables the companies to fulfil the disclosure 24 1. XBRL reporting enables company to disclose corporate 24 2. XBRL reporting enables companies to disclose employees 24 2.

XBRL reporting enables companies to disclose environmental 24 2. XBRL reporting enables companies to disclose all other non- 24 2. XBRL reporting will helps to explain each and every financial 24 1.

XBRL reporting enables the companies to fulfil the XBRL reporting enables company to disclose XBRL reporting enables companies to disclose XBRL reporting enables companies to disclose all XBRL reporting will helps to explain each and every Source: primary data Table 03 and 04 shows the results the tables 01 and 02 show the results of one-sample t-test for testing the significance of hypothesis.

And study concludes that XBRL reporting positively impact on disclosing both financial and non-financial information in single annual reports of the company hence it enables the companies to implement integrated reporting system in their financial reporting process.

And also helps the companies to meet various regulatory compliances in relation to disclosing the specific information in their annual reports as the part of environmental disclosure requirement, in addition XBRL reporting system enables companies to disclose sufficient non-financial information such as employee related information, notes to accounts and other needed information but as per the survey results the main problem involved in disclosing non-financial information is the designing of XBRL taxonomy so for this there is need of initiative to be taken by the regulatory authorities for designing comprehensive taxonomy that enables for sufficient disclosure of non-financial information in the annual reports.

This enables corporate to compare their financial affairs with others and also founds that XBRL Reporting helps in easy analysis of financial statements which serves as the base for improvement of performance of the corporate. It is evidenced that XBRL Reporting is not significantly impact on reducing the auditing costs and not helps in easing the internal auditing process.

The survey also guaranteed that the new updated XBRL reporting system provides the platform for disclose both financial and non-financial information under single annual reports of the company only when the XBRL Taxonomy is designed for this purpose it is the most important notable issue identified from this study.

International Journal of Disclosure and Governance, 6 3 , Baldwin, A. Blankespoor, E. The production status marked on Jotrin. If you did not find what you were looking for, you can get more value information by email, such as the KPH A Inventory quantity, preferential price, and manufacturer. We are always happy to hear from you so feel free to contact us. We will inspect all the goods before shipment,ensure all the products at good condition and ensure the parts are new originalmatch datasheet.

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