Adopting XBRL language in light of electronic accounting information systems to improve the quality of financial reporting

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Adopting XBRL language in light of electronic accounting information systems to improve the quality of financial reporting

Adopting XBRL language in light of electronic accounting information systems to improve the quality of financial reporting

Master Thesis submitted to the Council of the College of Management Economics – Karbala University and is part of the requirements for obtaining a Master of Science degree in Accounting

By

yousif hussein olEiwi alfahad

Supervised By

PROF.DR. Hayder A. Jarad Al-MasoOdI

Abstract

The developed countries of the world have tried to take advantage of the developments in the field of information technology by replacing the traditional methods of disclosure by economic units of their financial statements with modern disclosure methods, reducing time and reducing cost, and after the many attempts made by economic units and organizations interested in organizing the accounting profession, they resulted in a language that conforms to standards International Financial Reporting IFRS, called Extensible Business Reporting Language (XBRL), and the research aims to enhance theoretical knowledge of the concept of XBRL, its concepts and beneficiaries, and to determine the impact of XBRL on enhancing the efficiency of electronic accounting information systems, and then improving the quality of financial reporting And clarifying the importance of the expanded business reporting language XBRL for Iraqi economic units, and the need to enhance their capabilities to make electronic disclosures that keep pace with global economic units, through statistical analysis of the questionnaire distributed to 181 respondents from investors and workers in the Iraqi market for securities, academics and researchers, and the research concluded that XBRL language Facilitates the process of data collection and processing Its purpose is to exchange information and financial reports and compare it with the financial reports of other economic units, and its application reduces information asymmetry in financial reports, improves transparency of financial reporting, and facilitates access to information at the lowest cost and in a timely manner to help make the right decisions, as the application of XBRL does not require any change in practices. The current accounting, thanks to the IFRS and XBRL initiatives that are dedicated to issuing unified financial reports that contribute to automating reports, making comparisons, reducing costs and enhancing quality. and the beneficiaries, and the involvement of accounting cadres in the economic units in educational courses about the application of XBRL, and the need to use modern technology in linking the branches and departments of the economic unit inside and outside Iraq electronically through XBRL, and the economic units must report their activity in a timely manner with the application of XBRL, which will increase the speed of reporting on Accounting information and reliability to help the beneficiary In making decisions, educating and spreading institutional awareness of the need to rely on the application of XBRL in preparing financial reports as an international standard adopted in most countries of the world, to help attract foreign investment to Iraqi economic units and the importance of using information technology resources and modern technologies.