Extensible Business Reporting Language (XBRL) reporting is gaining momentum as a medium of digital financial reporting. It is a metalanguage, based on Extensible Markup Language (XML) and used as electronic communication of business information. The primary purpose of XBRL is to facilitate the preparation, publishing, exchange, and analysis of financial statements. It enhances the efficiency of financial reporting and accuracy, timeliness and reliability of financial data. But many Indian companies are still resisting implementing it internally. The present study analyzed the financial expert perception in respect of acceptance of XBRL as reporting method by using Technology Acceptance Model (TAM). The result uncovered that using XBRL increases work productivity but technological complexities make it difficult to accept. The study has implications for Indian firm reporters, auditors, government and also for other stakeholders to better understand the XBRL implementation and adoption.

Digital reporting of financial information plays an important role in increasing information transparency and efficiency. Extensible Business Reporting Language (XBRL) is fast becoming the new paradigm for reporting of financial information digitally. XBRL brings structure to each piece of business information with detailed description and contextual information for higher analysis (Ogundeji et al., 2014). In fact, using the framework of XBRL, it is possible to facilitate numerous types of reports that can efficiently be parsed by computers (Vasarhelyi and Alles, 2008) and software applications (Silveira et al., 2007). XBRL can be considered as innovation as it is becoming an internet business standardization language (Willis, 2007). An XBRL report not only contains business and financial reporting information but also includes attributes that describe that information. It does not change the financial reporting standards but changes the way in which business and financial information is reported. Typically, an XBRL report consists of an XBRL instance document containing the financial facts and taxonomies that provide the information about how facts are interrelated in the financial statement. Taxonomy works as an electronic dictionary for business and financial terms within the business realm. Instance documents are business reports that are physically connected to taxonomies. It contains both numerical and non-numerical data and information about the data.

Information Technology Journal, XBRL, Financial reporting, Technology acceptance, India , Extensible Markup Language (XML), Extensible Business Reporting Language (XBRL).