THE OPTIMIZATION OF THE INTERNAL AND EXTERNAL REPORTING IN FINANCIAL ACCOUNTING: ADOPTING XBRL INTERNATIONAL STANDARD

More and more enterprises, especially the listed companies, have adopted newaccounting norms and regulations (IFRS or US GAAP, Bale II and, in perspective, SURFI),manifesting interest for publishing financial reports using a standard format able to considerablyimprove their communication, data collection in the receiving units, control and analysis offinancial information. When switching to the new accounting rules specified in international orregional standards and norms, regulatory and control bodies recommend the XBRL format forfinancial reporting, with recognition of the regional jurisdiction. Our paper makes a review of theliterature, presents the XBRL specific elements and proposes possible solutions for internal andexternal financial reporting of an enterprise. Finally, it concludes on the benefits of adopting XBRLat national level in a potential XBRL Romania project.