The Familiarity and Preferences for Reporting Format among Stakeholders

Purpose: This study is seeks to investigate the familiarity and preference of the existing presentation format (HyperText Markup Language and Portable Document Format) and a new reporting format (eXtensible Business Reporting Language) through a survey among several experts who are involved in internet financial reporting. Design/methodology/approach: The questionnaire was distributed to the specific group of stakeholders, who had volunteered and were readily available to provide feedback on the perception on Internet Financial Reporting (IFR). The instrumentation focuses on the preferences of financial reporting formats and familiarity with HyperText Markup Language (HTML) and Portable Document Format (PDF), and the level of awareness towards a new reporting format eXtensible Business Reporting Language (XBRL). Findings: The study found that 91.1% preferred to use Portable Document Format (PDF), while 8.9% preferred to use HyperText Markup Language (HTML). About 81.8% of the users were familiar with the Portable Document Format (PDF), compared with 49.1% who were familiar with HyperText Markup Language (HTML). Research limitations/implications: Thus, it was found that users need more training, awareness, preparation and to be equipped with adequate knowledge on internet financial reporting, particularly the presentation formats. Originality/value: The concern in this study is not only on Information System (IS) personnel, but most importantly on experts such as auditors, accountants and senior management, in order for them to understand the means to seek information and familiar themselves with various reporting formats. Increasing awareness should be focused on the new reporting format called XBRL, in order to understand the concept of reporting and the benefits of utilizing XBRL as a new reporting technology.

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