XBRL AS A NEW REPORTING FORMAT FOR ECONOMIC ENTITIES
The development of financial reporting, methods of its processing and collection, regulation and supervision is a kind of response to the challenges of accelerated development of the economy, the financial system, information technology and society as a whole. Changes in the reporting forms are also a constant necessity, due to changes in the interests of its internal and external users. This article will discuss the electronic format for collecting and processing reporting data based on the XBRL specifications, its advantages and ways of implementation.