The USV Annals of Economics and Public Administration, Vol 11, No 2

Font Size:  Small  Medium  Large

Assessing the impact of XBRL in raportations issued by credit institutions

Mariana Vlad, Ioana Colbu, Alexandra Narcisa Cioban

Abstract


The main source of economic information for efficient driving of any institution, including a credit institution, is the current accounts. Accounting tools for accomplishing this are accounts. Credit institutions shall draw up annual financial statements that cover the same reports as those to be made by companies such as balance sheet, profit and loss situation in the specific structure of credit institutions, statement of changes in equity, cash flow statement and explanatory notes. In addition, because the object of activity, credit institutions have to prepare reports for prudential supervision purposes. In order to manage effectively business credit institutions, regulators use a language for collecting information on financial and accounting information in business processes, called XBRL. In Romania, prudential reporting framework has been harmonized with the standards recommended by CEBS to achieve a single European financial reports for supervisory purposes - FINREP(Financial Reporting) and prudential - COREP (Common Reporting) by configuring the reporting forms and their integration into electronic reporting system of the National Bank of Romania.

Full Text: PDF

                     Ştefan cel Mare University of Suceava                   Faculty of Economics and Public Administration
 

 

Licenţa Creative Commons
The articles in this journal are licensed under a Creative Commons Attribution-ShareAlike 4.0 International License .

Since 2008. Maintained by Livius.