1. bookVolume 6 (2017): Issue 2 (May 2017)
Journal Details
License
Format
Journal
eISSN
2336-9205
First Published
11 Mar 2014
Publication timeframe
3 times per year
Languages
English
access type Open Access

XBRL Implementation in the Banking Sector in Montenegro

Published Online: 22 May 2017
Volume & Issue: Volume 6 (2017) - Issue 2 (May 2017)
Page range: 5 - 22
Received: 27 Sep 2016
Accepted: 08 Mar 2017
Journal Details
License
Format
Journal
eISSN
2336-9205
First Published
11 Mar 2014
Publication timeframe
3 times per year
Languages
English
Abstract

The EXtensible Business Reporting Language – XBRL appeared in the beginning of the 21st century and it represents one of the most important technological innovations in financial reporting, collecting and exchanging data since the introduction of electronic spreadsheets. However, although the XBRL standard is globally accepted, and it has been proved to be a standard sui generis, the implementation of the standard has not yet become a reality in Montenegro and the region. In this context, the goal of this article is to evaluate a new and, for our conditions unexplored, area from the point of application of modern methods of accounting theory and practice, highlighting both positive and negative aspects. This research is getting prominence having in mind that the EU integration process which Montenegro has already started would affect all areas of socioeconomic life and development, especially in terms of accounting practices harmonization.

Keywords

JEL Classification

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