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

The XML Business Reporting Language (XBRL) is a standard for business and financial reporting. Many institutions are making available or requiring 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, especially 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 accounting standards. This approach has been evaluated in a particular scenario and it is available online.

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