XBRL-driven business process improvement: A simulation study in the accounting domain

M Kloos, J Hulstijn, M Seck, M. Janssen

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

2 Citations (Scopus)

Abstract

The eXtensible Business Reporting Language (XBRL) has been developed to standardize financial reporting. It could also improve internal business processes. Yet there is no scientific research to substantiate this claim. In this paper we use discrete-event simulation to determine the impact of XBRL on internal business processes. Simulation models of the existing and possible new situation are developed in a case study within the accounting domain. The redesigned processes are validated in a workshop. XBRL allows the merging of accounting and fiscal reporting processes resulting in a reduction of the duplication of activities and higher information quality. In particular, it is demonstrated that information quality, efficiency and lead-time can be improved by adoption of XBRL. In addition to technology-standardization on XBRL, data-standardization is a necessary precondition for realizing benefits.
Original languageEnglish
Title of host publicationProceedings of the 11th International Conference on Software Engineering and Formal Methods (SEFM 2013)
EditorsS. Counsell, M. Nunez
Place of PublicationCham
PublisherSpringer Verlag
Pages288-305
Number of pages18
ISBN (Print)9783319050317
DOIs
Publication statusPublished - 2014
Externally publishedYes
Event11th International Conference on Software Engineering and Formal Methods - Madrid, Spain
Duration: 25 Sep 201327 Sep 2013

Publication series

NameLecture Notes in Computer Science
Volume8368

Conference

Conference11th International Conference on Software Engineering and Formal Methods
Abbreviated titleSEFM 2013
CountrySpain
CityMadrid
Period25/09/1327/09/13

Keywords

  • XBRL
  • standardization
  • accounting
  • simulation

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