<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The E<bold>X</bold>tensible <bold>B</bold>usiness <bold>R</bold>eporting <bold>L</bold>anguage – XBRL appeared in the beginning of the 21<sup>st</sup> 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.</p></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.

XBRL Implementation in the Banking Sector in Montenegro

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"XBRL Implementation in the Banking Sector in Montenegro"}

The EXtensible Business Reporting Language – XBRL appeared in the beginning of the 21st century and it represents one of the most important technological...

XBRL Implementation in the Banking Sector in Montenegro

Publié en ligne: 22 mai 2017

Pages: 5 - 22

Reçu: 27 sept. 2016

Accepté: 08 mars 2017

DOI: https://doi.org/10.1515/jcbtp-2017-0010

Mots clés
XBRL, financial reporting, digitalization, Internet, accounting standards, management, company, stakeholders, globalization

© 2017 Central Bank of Montenegro

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

XBRL Implementation in the Banking Sector in Montenegro

Publié en ligne: 22 mai 2017

Pages: 5 - 22

Reçu: 27 sept. 2016

Accepté: 08 mars 2017

DOI: https://doi.org/10.1515/jcbtp-2017-0010

Mots clésXBRL, financial reporting, digitalization, Internet, accounting standards, management, company, stakeholders, globalization

© 2017 Central Bank of Montenegro

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Mots clés
XBRL, financial reporting, digitalization, Internet, accounting standards, management, company, stakeholders, globalization