Towards a Semantic Web Environment for XBRL

Abstract

XBRL is an emerging standard that allows enterprises to present their financial accounting information in a XML format, according to their applicable legislation. In this paper we present a system which offer the possibility of adding semantic annotations contained in a financial ontology to XBRL reports. Furthermore, we present a new approach that will apply probabilistic methods to determine the degree of similarity between concepts of different XBRL taxonomies. . This approach will allow invertors, enterprises and XBRL users in general, to perform comparisons between reports that fit onto different taxonomies, even belonging to different countries.