Perception of Companies on XBRL Reporting: A Factor Analytical Study

XBRL (eXtensible Business Reporting Language) allows companies to communicate their annual financial statements in a standard online format which is user friendly and provide information to all stakeholders. It also allows companies to integrate globally. In India, XBRL implementation is at initial stages. This study analyses the perception of Indian companies about the future of XBRL in India. The results of factor analysis show that XBRL reporting improves the reliability of information, changing the environment and promotes global competition.