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.
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