Extensile Business Reporting Language ( XBRL ) is an of import new engineering for the electronic communicating of concern and fiscal informations. XBRL is an of import phenomenon in today ‘s concern life. It will be more of import in the hereafter, because of many advantages it offers. Research workers are acquiring more interested to look into this issue. Because research in South Africa, Australia and the USA showed intolerably low degrees of consciousness and apprehension of XBRL, research was conducted to find the degrees of consciousness and apprehension of XBRL among accounting and finance lectors in Universiti Utara Malaysia ( UUM ) . The survey was limited to accounting and finance lectors. Findingss from the survey show that, there is a small cognition among the accounting and finance lectors in UUM sing the consciousness and apprehension of XBRL. This is explained by the consequences found from the study where 75 % of respondents said “ they have heard ” of XBRL nevertheless, merely 27 % of them are to the full cognizant of this engineering. In malice of these findings, the bulk of respondents acknowledged the fact that it was necessary for either them or person in their organisation to look into the affair of XBRL in the close hereafter.
1.0 BACKGROUND OF STUDY
The Internet and Information Technology are playing of import function in our concern life. Implementing new engineerings, utilizing new package, delivery, following new inventions to the concern is assisting companies to do effectual concern. Using Internet as a tool for pass oning corporate information is going progressively popular in companies. These companies are describing their fiscal statement through the Internet as information to the assorted groups of external users and sharing information with them. Nowadays one of the new tools for describing fiscal statement through the Internet is bases for Extensile Business Reporting Language ( XBRL ) .
It is an electronic communicating of concern and fiscal informations linguistic communication developed to show fiscal statement on the Internet. The cardinal advantage of this new “ linguistic communication ” is that an identifying ticket is applied for each single point of informations alternatively of handling them as a block of text.
Since the fiscal information is now tagged, it therefore can be recognized by the receiver party ‘s computing machine. Accountants, hearers, regulators and fiscal analysts are used for other intents ; and besides present assortment of ways in a fraction of a 2nd and extinguish the possibilities of human mistake during the re-keying of fiscal informations. This will let flexibleness while heightening transparence and timely airing of relevant fiscal information.
Nel and Steenkamp ( 2008 ) noted that Extensile Business Reporting Language ( XBRL ) has been described in assorted ways, among others, “ revolutionizing ” ( XBRL International 2007a ) , “ groundbreaking ” ( Pinsker, 2003 ) , “ a critical engineering ” ( Burnett, Friedman & A ; Murthy, 2006 ) and a “ beginning of cardinal alteration ” ( Troshani & A ; Doolin, 2007 ) . “ XBRL is a linguistic communication for the electronic communicating of concern and fiscal informations which is revolutionising concern describing around the universe ” ( XBRL International 2007a ) .
As such, XBRL is a engineering that is peculiarly relevant to hired comptrollers and the greater accounting and scrutinizing community, because one of its major benefits is more accurate and dependable reporting.A It offers cost nest eggs, greater efficiency and improved truth and dependability to all those involved in providing or utilizing fiscal informations.
XBRL is the development of protocols, with its beginning in HTML. Hypertext Markup Language ( HTML ) is a well-known markup linguistic communication that was developed to expose informations or text on, web sites, for illustration. To stipulate the data format of text, the text would hold “ tickets ” bespeaking the desired data format – for illustration & lt ; b & gt ; bold & lt ; /b & gt ; would expose as bold, with the tickets between the & lt ; and & gt ; marks.
Extensile Markup Language ( XML ) is a more advanced markup linguistic communication, which describes the informations and says what the information are. Therefore, alternatively of a figure merely being a figure, XML indicates what that figure is, say, a debitor figure or employee figure. It hence adds significance to informations, helping in the efficient processing thereof by computing machine package. It does this by adding “ tickets ” to the informations, once more contained in & lt ; and & gt ; marks. If an employee figure is formatted in the XML format, it might resemble the followers: & lt ; EmployeeNo & gt ; 123456 & lt ; /EmployeeNo & gt ; . These informations are hence identifiable by the package as non merely text, but text in a specific context, say, an employee figure ( Nel & A ; Steenkamp, 2008 ) .
An of import portion of XML is that it is “ extensile ” , intending that users or companies can specify their ain tickets. Different organisations might hence utilize, define or allocate tickets otherwise. Hence users from different organisations can non needfully do usage of tagged informations from another organisation. In the above illustration of the employee figure, another company may do usage of the ticket & lt ; EmplNo & gt ; , which would render the ticket useless when used outside the specific organisation ( Bagranoff, Simkin & A ; Norman, 2008 ; Dykes & A ; Tittel, 2005 ) .
XBRL is a discrepancy of XML, developed specifically for concern and fiscal coverage. XBRL solves the abovementioned job of incompatibility between organisations in the context of fiscal and concern informations. XBRL creates describing protocols that standardize the tickets used to pass on fiscal and concern informations electronically. These tickets are all included in the XBRL “ taxonomy ” , which is the dictionary XBRL uses to specify the significance of the different tickets ( XBRL International 2007b ) . XBRL adds a standardised ticket to data bespeaking the nature of the informations, for illustration “ Trade debitors ” . This makes the informations apprehensible to the computing machine, while still being clear by worlds. It can besides add tickets demoing whether it is a pecuniary or other numerical point and whether it belongs in a peculiar grouping or categorization, say, current assets, every bit good as the fiscal period the figure relates to ( Flowerday, Blundell & A ; Von Solms, 2006 ) .
XBRL is non merely applied to fiscal or numerical informations, but besides to text informations. Thus the company ‘s accounting policy and its subcomponents may besides be identified by XBRL tickets. Since it forms portion of the XML household, it is besides extensile, and can hence be customized to accommodate the demands of different organisations and industries ( Higgins & A ; Harrell, 2003 ) . There are so groups working at developing specific ticket for specific industries ( Higgins & A ; Harrell, 2003 ) , some of which have already been finalized in the USA, for illustration, taxonomies for banking, insurance and investing direction ( XBRL International 2007a ) .
If we look for the accounting facet of XBRL, it brings great benefits. As a linguistic communication that can aline fiscal constructs, XBRL facilitates the principle-based accounting and accounting criterions. The use of XBRL is convenient for change overing fiscal studies and informations into assorted file formats in accounting system. It is an extensile concern coverage linguistic communication which can change over or work with many bing fiscal informations in different package plans such as Microsoft Word and Excel, Adobe, Oracle, and etc. If XBRL becomes global criterion package for the publication, exchange and analysis of accounting studies and informations, it is much easier for the companies to fix and print fiscal paperss throughout different states rapidly, handily and expeditiously. Companies can cut down clip, attempt and money that spent on bring forthing fiscal studies and informations with assorted study formats. Besides, it can assist companies to concurrently present their consequences in multiple national GAAPs ( Generally Accepted Accounting Principles ) with a simplified procedure when fixing statements. It can assist people outside the company can compare the consequences of different companies and to measure the province of the concern utilizing standard prosodies, which is an of import accounting rule. The betterment of efficiency in informations transportation can certainly convey advantages to the companies, and in bends more chances can be brought to the topographic points.
Besides, the XBRL can better the efficiency and transparence of the capital markets. Peoples utilizing XBRL can reexamine the information comprehensively and alter the corporate fiscal information before the entry, reappraisal and airing to others. In add-on, it helps a company or a market to be more accessible. It supports customized clear tickets to label their studies in a more effectual manner by pass oning with the investors straight. This can assist to forestall darnels or overstate of the wellness of a concern, which in bend build up the confident of investors. It can besides assist alter the state of affairs of supplying fraud informations in some Malayan companies, and derive back the trust from investors as accurate studies are provided utilizing XBRL.
Furthermore, the XBRL helps traveling informations into and out of the accounting systems. It is easy to pull off a series of little concerns and combine the informations and studies expeditiously and efficaciously. It is a planetary linguistic communication for accounting that specifies for the set up of studies, direction and transportation of files. It is effortless for users to describe the payables, receivables, and paysheet, fixed assets, current assets and stock list in the accounting systems. It is utile to standardise the fiscal information formats, web services formats, extraction and analysis system, etc. With these supports, hearers can measure the costs of a company easy. Besides, the communicating between clients and companies will be improved by holding better entree to their ain informations. It helps apportioning the resources better. More clip can be used for fixing fiscal informations and analysing their public presentation and strategic planning.
As XBRL has many advantages on accounting, if companies in Malaysia were promoted to utilize this linguistic communication, this will decidedly assist them in executing and making concern with other companies all over the universe. It can besides assist to pull more investors to put in Malaysia.
When foreign companies are doing concern, they face a great job in sharing of information between different subdivisions. Some of import paperss, such as fiscal statements and concern studies, are necessary for doing major managerial determinations, is necessary to hold a common format to back up exchange while XBRL can make full in this spread.
XBRL can assist to cut down the disparity and seek to advance the integrating of the Malayan criterions with the largely accepted international criterion. It can ease the development of the professional sectors such as fiscal and accounting service of Malaysia. On the other manus, XBRL would assist the foreign companies to hold better operations in Malaysia because of the better information coverage and analysis of the common criterion.
1.2 Problem statement
XBRL is an of import phenomenon in today ‘s concern life. It will be more of import in the hereafter, because of many advantages it offers. Research workers are acquiring more interested to look into this issue. Many research workers have conducted research to look into the issue of XBRL among comptrollers, hearers and other stakeholders ( Pinsker 2003, Troshani & A ; Doolin 2007, Burnett, Friedman & A ; Murthy 2006, Nel & A ; Steenkamp ) .
While a figure of research workers have been conducted to look into the consciousness and apprehension of XBRL among accounting and finance practicians, no survey has been carried out in the context of instruction. Therefore this survey attempts to look into the consciousness and apprehension of XBRL among accounting and finance lectors. Finding from this survey is of import as it will cast the visible radiation of consciousness and apprehension of XBRL among academicians, whom are the suppliers of the cognition and accomplishments.
For the hereafter comptrollers and fiscal exports it is besides of import as Malaysia has non implemented XBRL at this minute ; there is a sensible outlook that Suruhanjaya Syarikat Malaysia ( SSM ) will implement XBRL in the close hereafter. This outlook can be seen from the turning usage of XBRL in the planetary environment, including our adjacent state, Singapore, who has been utilizing XBRL for a figure of old ages already ( Ken Low, 2009 ) .
1.3 Research Questions
Main Research Question: What is the degree of consciousness and apprehension of XBRL among accounting and finance lectors in University Utara Malaysia ( UUM ) ?
What are the factors that influence the consciousness and apprehension of XBRL among accounting and finance lectors in UUM?
What are the perceptual experiences of accounting and finance lectors in UUM of the impact, relevancy, benefits and hazards of XBRL?
Make accounting and finance lectors in UUM feel there is a demand for instruction and information on XBRL?
1.4 Research Aims
Main Research Objective:
To find the degree of consciousness and apprehension of XBRL among accounting and finance lectors in UUM
To place the factors that influence the consciousness and apprehension of XBRL among accounting and finance lectors in UUM
To look into the perceptual experiences of accounting and finance lectors in UUM of the impact, relevancy, benefits and hazards of XBRL
To analyze whether those accounting and finance lectors in UUM feel there is a demand for instruction and information on XBRL
1.5 Significance of the survey
This survey attempts to look into the consciousness and apprehension of XBRL among accounting and finance lectors. So far, the research worker has non seen any survey about XBRL in Malaysia. Even at the university or college degree, XBRL is non included in accounting and finance course of study. The research in Australia, USA and South Africa showed unacceptable low degree of consciousness and apprehension of XBRL ( Nel & A ; Steenkamp, 2008 ) .
This research was conducted in an effort to measure the degree of consciousness and apprehension of XBRL among accounting and finance lectors in UUM. As discussed before, XBRL has many benefits and impact on comptrollers, be it as hearers or as compliers or users of information. It is hence critical for accounting and finance lectors to be cognizant of and have knowledge of XBRL to learn their pupils.
It is hoped that the consequences of this survey will help accounting and finance lectors and to find schemes to help the acceptance and diffusion of XBRL in Malaysia. The findings about XBRL may give a utile feedback to accounting and finance lectors. The utile feedback may help them in learning future comptrollers and fiscal esperts to develop their working accomplishments that eliminate the manual transportation of informations, which lead to fewer mistakes and higher quality informations.
2.0 LITERATURE REVIEW
Using Internet is one of the powerful communicating devices in our concern life. The Internet is besides considered worldwide considered to be the most efficient, cheapest, and fastest tool of communicating. As a consequence, it is no surprise that companies are traveling towards utilizing the Internet as a communicating device for the distribution of fiscal information. Companies are following new inventions, describing systems for describing their fiscal statements. One of these inventions is XBRL.
XBRL is a important new engineering for the electronic communicating of concern and fiscal informations and as such is relevant to accounting and finance lectors who are the cardinal participants for fixing future comptrollers and finance people. Following research in the USA, in which low degrees of consciousness of XBRL were identified ( 53.7 % in 2006 and 59.7 % in 2007 ) ( Grgeta, 2006 ; McFarland, 2007 ) ; and besides in South Africa, in which degrees of consciousness were identified ( 11 % in 2008 ) ( Nel & A ; Steenkamp, 2008 ) . The aims of this survey were to research the consciousness, apprehension, perceptual experiences of and demand for cognition on XBRL of accounting and finance lectors in Malaysia.
XBRL ranks comparatively high in importance as an AIS subject. It follows the subjects of Database package and Data extraction and use. The Strategic Uses of XBRL is the XML/XBRL subject that is considered most of import by respondents and is covered by the bulk of the accounting and finance module members ( Ashutosh Deshmukh, Khondkar Karim, Jeffrey Romine & A ; Robert W. Rutledge, 2006 ) .
Other subjects, such as Concept of Markups and Tags, fixing and formalizing XBRL studies, XBRL constituents, and XBRL package, are besides considered of import. However, the current coverage of subjects is non in proportion with the sensed importance of these subjects. Many of the subjects considered most of import receive small to no coverage in the accounting course of study. The research worker believes that the deficiency of module cognition and deficiency of instructional stuffs are the primary factors responsible for these disagreements.
A general consensus among the reacting accounting and finance module members was that there was a terrible deficiency of instructional stuffs on the XBRL subject. The most of import instruction AIDSs needed are XBRL tutorials, Case Materials, and coverage in text editions. XBRL is germinating and altering at a rapid gait, and instructional stuffs that deal with the foundations are desperately needed ( Ashutosh Deshmukh, Khondkar Karim, Jeffrey Romine & A ; Robert W. Rutledge, 2006 ) .
Since this country is complex, it is necessary that educational demands of the pedagogues are besides adequately met. There have been a figure of seminars and Sessionss offered to faculty members at assorted conferences. Apparently, these are non plenty and more attempts are needed in this country.
2.2 Awareness of XBRL
Pinsker ( 2003 ) conducted a study to find the degree of consciousness of XBRL among internal and external hearers in the USA. He found a low degree of cognition and experience with XBRL among the respondents, who rated these at 1.71 and 1.24 severally on a seven-point graduated table ( one being “ low ” and 7 “ high ” ) . Pinsker was surprised at this low degree of consciousness because trade and concern diaries were transporting regular characteristics on XBRL in 2003, four old ages after the debut of XBRL in the USA.
Troshani and Doolin ( 2007 ) conducted a survey among XBRL stakeholders such as, accounting houses and package developers in Australia, on the diffusion of XBRL and found that the efforts to increase consciousness of XBRL had been uneffective. Early adoptive parents of XBRL were unwilling to portion their success narratives in an attempt to keep on to their competitory advantage of using this new engineering every bit long as possible. In an earlier survey in 2005, Troshani and Doolin ( 2005 ) reported that the low degree of acceptance of XBRL in Australia could be attributed to a assortment of factors:
The acceptance scheme in Australia was uneffective.
There was a deficiency of instruction of employees by organisations who could potentially hold been XBRL users.
There was a deficiency of resources available to XBRL Australia Ltd to advance XBRL.
There was an on-going procedure of alteration in the accounting sphere, which may hold made the acceptance of XBRL a lesser precedence. This was exacerbated by the figure of alterations that were taking topographic point in the XBRL taxonomy at that phase. Potential adoptive parents were hence more inclined to wait until the accounting criterions and the XBRL taxonomies had stabilized.
There was limited package support available for XBRL, taking to possible trouble in implementing XBRL.
Shortly before the Securities and Exchange Commission announced its committedness to the hereafter usage of XBRL, Grant Thornton LLP, the USA-based accounting house, commissioned a study in 2006 incorporating a little figure of inquiries on XBRL. It found that 53.7 % of senior finance executives were cognizant of XBRL and 91.4 % believed that the accounting profession had non made the benefits of XBRL sufficiently widely known ( Grgeta, 2006 ) . Grant Thornton LLP repeated the study in 2007, and the consciousness of XBRL increased merely to 59.7 % , with 85.07 % of the respondents still experiencing that the airing of cognition on XBRL in the accounting industry was unequal ( McFarland, 2007 ) .
Similarly, the international association of investing professionals, the CFA Institute ( 2007a ) , found that 59 % of its members were non cognizant of XBRL, but those who were cognizant of it, considered it to be a utile tool in their analyses of the fiscal information of companies.
2.3 Percepts for utilizing XBRL
Pinsker and Wheeler ( 2007 ) conducted a survey on the perceptual experiences of non-professional investors of XBRL. Two groups of MBA pupils carried out an assignment on the analysis of fiscal statements, with one group utilizing XBRL-based information and engineering and the other carry oning the more traditional paper-based analysis. The participants perceived the XBRL-enabled analysis of fiscal statements to be more effectual and efficient. The participants besides perceived the companies that make XBRL information available to be more effectual and efficient. They noted that users ‘ perceptual experiences were positively affected when they were provided with an illustration of the utilizations of XBRL and of practical experience of XBRL.
Harmonizing to the respondents in Pinkster ‘s ( 2003 ) survey, the benefits of XBRL of, say, effectiveness and efficiency, would happen in pattern. Pinsker recommended that XBRL International should increase its attempts to do the possible benefits more widely known among the future user of XBRL. He besides placed the burden on the shoulders of hearers to educate them on the issue of XBRL.
As discussed earlier, XBRL is extensile and can be modified. However, 66 % of the respondents in the study by the CFA Institute ( 2007a ) felt that the ability to modify the standard taxonomy should be limited, while 25 % felt that alterations should be prohibited ( CFA Institute 2007b ) .
It would look that XBRL is presently non a well-known invention internationally, but that there are positive perceptual experiences of it. The current survey investigates this affair in a Malaysia context.
3.0 HYPOTHESIS DEVELOPMENT AND METHODOLOGY
The last chapter has reviewed the anterior surveies that have been carried out in different states related to awareness and understanding of XBRL. This chapter presents a theoretical model to find the relationship between the consciousness of XBRL among accounting and finance lectors in Malaysia as a dependant variable and IT knowledge as an independent variable.
3.2 Research Theoretical Framework
Independent Variables Dependent Variable
The consciousness of XBRL among Accounting and Finance lectors in Malaya
IT cognition of Accounting and Finance lectors
Figure ( 1 ) : research theoretical account.
3.3 IT cognition of accounting and finance lectors and the consciousness of XBRL
IT cognition of accounting and finance lectors besides plays great function for the consciousness of XBRL. Because they are the 1 who are traveling to fix the hereafter professionals. IT cognition of lectors play cardinal function in this field. A new occupation is created in necessitating companies to register financials utilizing XBRL.A Someone, whether it is the external hearer or an outside consulting house, needs to certify to the truth of the informations tagging.A If companies are non utilizing the tickets right so the information is inconsistent and non comparable across companies.A Supplying comparable and consistent information are critical factors for the success of XBRL.
This attestation battle is a negative facet for the filing company because it is an excess disbursal that the company will hold to incur to register its fiscal statements with the Securities and Exchange Commission ( SEC ) .A It is besides an excess load on the audit houses because they will all be required to hold equal cognition of XBRL since it will be used in SEC filings.A Even with equal cognition, comptrollers may still differ on the truth of the tagging of certain informations elements ( Burnett, 2006 ) .
H1: There is a relationship between IT knowledge of accounting and finance lectors and the consciousness of XBRL.
3.4 Measurement of Variables
3.4.1 Dependent variable
This survey has one independent variable i.e. the consciousness of XBRL among accounting and finance talks in Malaysia. This variable is defined as the figure of lectors that are utilizing XBRL. For the intent of this survey, two types of respondents have been identified to mensurate the consciousness of XBRL. They are accounting lectors and finance lectors. The entire mark of the consciousness of XBRL would run 5 point Likert graduated table from “ 1 ” ( which is “ low ” ) to “ 5 ” ( which is high ) .
3.4.2 Independent Variable
188.8.131.52 IT cognition of accounting and finance lectors
Following Pinsker ( 2003 ) , this survey measures IT cognition of comptrollers by group of knowing and experient with IT of the concern forces. IT cognition: measuring of this construct based on a five-point graduated table. The respondents were asked to rate their cognition of eight classs of engineerings to bespeak the extent of cognition for each engineering utilizing a five-point graduated table where 1 = No Knowledge to 5=Extensive Knowledge.
3.5 Data aggregation
The sample of this survey comprises accounting and finance lectors in UUM. It is at January 2010, there are 250 accounting and finance lectors at the College of Business, university Utara Malaysia.
Prior to the several studies the bill of exchange questionnaire was pre – tested with three lectors to guarantee the content cogency. Based on feedbacks received, the questionnaire was further refined, among others, the dictions and sentences construction of several inquiries included in the questionnaire.
Online questionnaire was used to roll up the information from the respondents for this intent, email explicating the intent of the survey and besides web nexus to the study was sent to the respondents in February 2010. After a period of month and three reminders, 49 respondents responded to the study. The replies represent a response rate of 20 % .
3.5.1 Response rate
The 49 responses received were fewer than would hold been ideal, but the research workers decided to go on with the research and analysis of consequences for the undermentioned grounds:
In malice of the low response rate, 49 was still a sufficient footing for preliminary decisions.
This was an exploratory survey and the consequences would therefore indicate hereafter actions to raise consciousness, irrespective of the response rate achieved.
Since XBRL is comparatively new engineering in footings of widespread usage, this might take to a low degree of consciousness. Because of this, it was anticipated at the start of the survey that a non-response prejudice might be with regard to possible respondents who did non cognize of XBRL and who would therefore non be interested in take parting in the study. While content of the electronic mail deeply explain the intent of the study, it is possible that a considerable figure of people ( 201 ) who received the electronic mail did non open or read it.
Previous research of this type conducted by Pinsker besides had an highly low response rate, with merely 17 useable responses in the sample ( Pinsker, 2003 ) . Likewise, Troshani and Doolin ( 2005 ) based their decisions on 11 interviews. Nel and Steenkamp ( 2008 ) besides had a really low response rate 208 ( 2.2 % ) .
4.0 FINDINGS AND DISCUSSION
This subdivision discusses inquiries associating to the respondents ‘ demographic information.
Figure 1a shows the place of the respondents. It is apparent that big Numberss of respondents were lectors ( 65 % ) and senior lectors ( 21 % ) . Other respondents were employed in Professors ( 3 % ) and Associated Professors ( 8 % ) . The mean old ages as an academician are 10.53 old ages.
Figure 1b shows that the country of expertness of the respondents specialized in Accounting Information System ( 29 % ) , Financial Accounting ( 23 % ) which is higher than the other countries and finance ( 18 % ) while the staying respondents specialise in other accounting subject such as revenue enhancement, scrutinizing and direction accounting.
Qualification of the lectors was presented in table 1a and table 1b. Table 1a showed that bulk of the respondents have master grade ( 79 % ) , while staying respondents have doctorate degree degree. Consequences in table 1b indicated that 55 % of the lectors received their highest grade from local universities while the staying respondents from abroad universities.
The findings with regard to the industry experience and professional making of the lectors were presented in Table 1c, Table 1d and Table 1e. Table 1c showed that merely 47 % of the respondents have industry experience. Table 1d showed merely 19 respondents have professional making.
Figure 1a: Position of the lectors
Figure 1b: Teaching country of the lectors
Table 1a: Qualification of lectors
Table 1b: Qualification topographic point of lectors
Table 1c: Industry experience of the lectors
Table 1d: Professional making of the lectors
Table 1e: Professional making type of the lectors
Certified public accountant
Table 1f: Experience of the lectors
Old ages OF LECTURE
Old ages OF INDUSTRY EXP
Valid N ( list wise )
4.2 Awareness of XBRL
The respondents were requested to rate their consciousness of XBRL before this study. Brief description of XBRL was given in the debut to the questionnaire as it was necessary to put parametric quantity “ before this study ” . The consequences are presented in table 2a.
Table 2a: Awareness of XBRL before the study
I HAVE NEVER HEARD OF IT
I HAVE HEARD OF IT BUT DO N’T Know WHAT IT IS ABOUT
I HAVE HEARD OF IT AND FULLY AWARE ABOUT IT
The bulk of respondents ( 75.5 % ) had heard of XBRL prior to the study. However, merely 27 % ( 10 out of 37 ) of them are to the full cognizant of XBRL. The bulk of accounting and finance lectors were hence did non cognizant of XBRL at the clip of the study.
Part 1 of the questionnaire contained a inquiry mensurating the respondents ‘ avidity to look into XBRL in the close hereafter. A brief description and benefits of XBRL given in the debut subdivision as this inquiry intend to mensurate the sensed importance of XBRL to the respondents who might antecedently hold been incognizant of XBRL.
Table 2b: Will you look into XBRL in the close hereafter because of this study?
Will look into further
Will non look into further
Was non cognizant
Merely 31 % of the respondents indicated that they would non look into XBRL farther, compared to 69 % ( 44 % /71 % ) , who would look into XBRL farther, even though they had non been cognizant of XBRL before the study. This clearly shows that although the respondents were by and large non cognizant of XBRL before the study, they perceived the construct of XBRL engineering to be of import to them.
4.3 IT cognition and XBRL consciousness
This subdivision presents an analysis of the relationship between IT knowledge of Accounting and Finance lectors and consciousness and apprehension of XBRL utilizing a one-way ANOVA. The chief purpose of carry oning the one-way ANNOVA is to analyze whether there is important differences in term of IT cognition of the lectors and consciousness and apprehension of XBRL.
IT cognition of the accounting and finance lectors is measured based on eight general engineerings. Table 3a showed average value of the accounting and finance lectors ‘ IT knowledge utilizing 5 point Likert graduated table ( 1=low, 5=high ) .
Table 3a: IT cognition of the lectors
WORD PROCESSING KNOWLEDGE
ELECTRONIC SPREADSHEETS KNOWLEDGE
Electronic PRESENTATIONS KNOWLEDGE
Accounting SOFTWARE KNOWLEDGE
TAX RETURN PREPARATION SOFTWARE KNOWLEDGE
GENERALIZED AUDIT SOFTWARE KNOWLEDGE
Valid N ( listwise )
The mean IT cognition among the reacting lectors is 3.89 which can be considered as good. General office applications such as word processing, electronic spreadsheets, electronic presentations, electronic mail and Internet engineerings have the highest evaluation, with average value above 4.0. More specialised engineerings such as revenue enhancement, accounting and auditing had lower average value, less than 3.5.
Then, in order to analyze the relationship between degree of IT knowledge and XBRL consciousness, ANOVA was carried out for this intent, respondents are categorized into three groups:
Never heard of XBRL
Heard but non cognizant
Heard and cognizant
The consequence of the one-way ANOVA for the consciousness of XBRL is presented in the Table 3b. The tabular array summarizes the average value of the consciousness of XBRL indexs and the statistical information of the one-way ANOVA to help the research in make up one’s minding whether or non there is a important difference between IT knowledge and consciousness. Table 3b shows that there are no important different between IT knowledge of the lectors and consciousness of XBRL.
However, detail observation of the average value of the three groups show that these who are cognizant of XBRL have the highest average value of IT cognition compared to the other two groups. A important F value in a one-way ANOVA tells the population agencies are likely non all equal. However, it does non state which brace of groups appear to hold different agencies.
Table 3b: The relationship between IT knowledge and consciousness of XBRL
I HAVE NEVER HEARD OF IT
I HAVE HEARD OF IT BUT DO N’T Know WHAT IT IS ABOUT
I HAVE HEARD OF IT AND FULLY AWARE ABOUT IT
4.4 IT cognition and XBRL apprehension
The consequence of the one-way ANOVA for the apprehension of XBRL is presented in the Table 4a. The tabular array summarizes the average value of the apprehension of XBRL indexs and the statistical information of the one-way ANOVA to help the research in make up one’s minding whether or non there is a important difference between IT knowledge and apprehension of XBRL.
Table 3b shows that there are no important different between IT knowledge of the lectors and apprehension of XBRL. Even though the consequence is non important, it is observed that the average value of IT cognition of those group that to the full understand XBRL have the highest average value compared to other two groups.
Table 4a: The relationship between IT knowledge and apprehension of XBRL
I WAS AWARE OF XBRL BUT DID NOT Understand THE BASIC CONCEPT
I UNDERSTAND THE BASIC CONCEPTS OF XBRL.
I UNDERSTAND FULLY WHAT XBRL IS ABOUT.
Table 4b: One-way ANOVA
Sum of Squares
4.5 XBRL in Education
Respondents were asked about their perceptual experience toward the relevancy of XBRL in the instruction of accounting and finance related topics utilizing a five-point graduated table ( 1=Not relevant ; 5=Highly relevant ) . The average value for each country as shown in the tabular array 4.b indicate that respondents perceived XBRL are more relevant for Accounting Information System, Financial Accounting, Finance and Auditing topics ( all with average value more than 3.5 )
Table 4c: The relevancy of XBRL to the instruction topics
FINANCIAL ACCOUNTING-RELATED SUBJECTS
MANAGEMENT ACCOUNTING-RELATED SUBJECTS
Accounting INFORMATION SYSTEM-RELATED SUBJECTS
Respondents were asked their perceptual experience toward the integrating degree of XBRL in the instruction of accounting and finance related topics utilizing a five-point graduated table ( 1=Not integrated ; 5=Highly integrated ) . The average value for each country as shown in the tabular array 4.c indicate that respondents perceived XBRL are higher integrating degree of Accounting Information System capable ( average value more than 3.5 )
Table 4d: The integrating degree of XBRL to the instruction topics
FINANCIAL ACCOUNTING-RELATED SUBJECTS
MANAGEMENT ACCOUNTING-RELATED SUBJECTS
Accounting INFORMATION SYSTEM-RELATED SUBJECTS
5.0 DISCUSSIONS, SUGGESTIONS AND CONCLUSIONS
The purpose of this survey is to research the degree of awareness apprehension of XBRL among academicians. The samples of the survey contain 49 accounting and finance lectors of College of Business, Universiti Utara Malaysia ( UUM ) .
It so examines the perceptual experience of respondents with respects to the relevancy of XBRL in the instruction of accounting and finance topics. It besides examines the degree of integrating of XBRL in the instruction topics. Finally, it examines the impact of IT cognition on the consciousness and apprehension of XBRL among academic respondents.
Findingss from the survey show that, there is a small cognition among the accounting and finance lectors in UUM sing the consciousness and apprehension of XBRL. This is explained by the consequences found from the study where 75 % of respondents said “ they have heard ” of XBRL nevertheless, merely 27 % of them are to the full cognizant of this engineering.
Overall, the determination suggests that the degree of XBRL among the reacting academician is still really low. This happening support the similar consequence found from old surveies. The old consequences from Pinsker ( 2003 ) indicated that many comptrollers and hearers have low cognition or experience with XBRL and do non comprehend the intended benefits XBRL usage provides. While, the consequence from Nel and Steenkamp ( 2008 ) showed that the bulk of hired comptrollers in South Africa are presently unaware of XBRL and few to the full understand it.
Respondents perceived XBRL are more relevant for Accounting Information System, Financial Accounting, Finance and Auditing topics. All these topics mean value are more than 3.5 ( five point Likert graduated table, 1=Not relevant ; 5=Highly relevant ) . Findingss from the integrating degree of XBRL showed that merely Accounting Information System topic is more incorporate ( average value 3.97 ) than other topics.
IT cognition of the respondents ‘ is the chief factor for consciousness and apprehension of XBRL. Survey consequences showed that respondents are more celebrated with general office application ( average value is more than 4.0 ) . They have a small cognition about accounting package, average value less than 3.0.
The given treatments above showed that accounting and finance lectors were non familiar with accounting and finance package. Lectors who are learning Accounting Information System topic are more cognizant about XBRL than other accounting and finance lectors.
The survey is limited to the accounting and finance lectors. And besides, this research is merely for UUM lectors. This survey is taking a sample non for comptrollers, hearers, stakeholders, etc. It is taking merely for accounting and finance lectors. It will foreground some of import portion of learning country.
As the old research workers studied ( e.g. Troshani & A ; Doolin, 2007 ) , the issue identified at the beginning was the comparative young person of this new engineering. Therefore, the research worker was cognizant that a low response rate might be achieved, as was experienced by Pinsker ( 2003 ) and Nel and Steenkamp ( 2008 ) . Owning to the important part that XBRL could do to comptrollers, hearers, stakeholders, and other users, it was decided to go on with the research in malice of these possibilities.
All accounting and finance lectors are assumed to be cognizant and understand of XBRL for cost economy, faster, more dependable and more accurate handling of informations, improved analysis and in better quality of information and decision-making in their accounting and finance pupils ‘ future occupation.
For future research, it is being suggested for increasing the sample size in order to acquire more accurate consequence for the survey. Since, this survey merely focuses on the consciousness among accounting and finance lectors in UUM, hence it besides suggested widening the range of respondents including the accounting and finance lectors all over Malaysia, comptrollers and hearers in little and large houses. Besides that, the future research should be focused on the other country such as extend the survey to find the factors ( i.e ; societal factors ) or the determiners that will act upon to the degree of consciousness and understanding XBRL.