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Using Semantic Web Technologies to Facilitate XBRL-based Financial Data Comparability

Héctor Carretié, Beatriz Torvisco, Roberto Garcı́a

Open publisher page 6 citations

Abstract

Abstract. The XML Business Reporting Language (XBRL) is a standard for business and financial reporting. Many institutions are making available or re-quiring data in this format, e.g. the US SEC or the Spanish CNMV. However, XBRL data is loosely interconnected and it is difficult to mix and compare, es-pecially when it is based on different accounting principles. Our contribution is based on converting XBRL reports into semantic data and then using Semantic Web technologies to formalise equivalences among terms from different ac-counting standards. This approach has been evaluated in a particular scenario and it is available online.

About this research paper

What this paper is about

Abstract. The XML Business Reporting Language (XBRL) is a standard for business and financial reporting. Many institutions are making available or re-quiring data in this format, e.g. the US SEC or the Spanish CNMV. However, XBRL data is loosely interconnected and it is difficult to mix and compare, es-pecially when it is based on different accounting principles. Our contribution is based on converting XBRL reports into semantic data and then using Semantic Web technologies to formalise equivalences among terms from different ac-counting standards. This approach has been evaluated in a particular scenario and it is available online.

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OpenAlex reports 6 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

Abstract. The XML Business Reporting Language (XBRL) is a standard for business and financial reporting. Many institutions are making available or re-quiring data in this format, e.g. the US SEC or the Spanish CNMV. However, XBRL data is loosely interconnected and it is difficult to mix and compare, es-pecially when it is based on different accounting principles. Our contribution is based on converting XBRL reports into semantic data and then using Semantic Web technologies to formalise equivalences among terms from different ac-counting standards. This approach has been evaluated in a particular scenario and it is available online.

Key concepts: XBRL, Business reporting, Comparability, XML, Computer science, Semantic Web, Accounting, Database

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