Investigating the Effect of Extensible Business Reporting Language (XBRL) on Quality Improvement of Financial Reporting in Iranian Corporations

Financial reports must provide the following: needed information for assessing the financial position and economical stamina of the institution, the performance and profitability, the quality of funding and consuming cash, and for assessing the quality of executing stewardship and legal duties. It also provides supplementary information for better understanding of the presented financial data and predicting the future situation. So, in the present study, the impact of Extensible Business Reporting Language on promoting the quality of financial reporting of the accepted corporations in Tehran securities exchange is investigated. The data collected, through questionnaires, from managers, accountants and auditors for demographic variables and also all the hypotheses were analyzed using statistical deductive and descriptive methods. The findings indicate that there is a direct and significant relationship between familiarity with Extensible Business Reporting Language (XBRL), on the one hand, and the quality improvement of financial reporting, clarifying the financial transparency, funding corporations and the efficiency of executive accounting processes.