Accountants uneducated in iXBRL

Editorial team
AccountingWEB.co.uk
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Seven out of ten accountants remain uncertain about iXBRL, according to a recent survey.

Although two thirds of accountants in practice have made or are planning to make significant changes to their IT or business processes in order to meet iXBRL requirements for online filing, seven out of ten said they didn’t know enough about the benefits it can deliver, according to the latest Pulse survey from Sage (UK) Limited.

“Online filing is fast becoming an integral part of the job for today’s accountants but iXBRL is still relatively new,” commented Jayne Archbold, managing director of Sage’s Accountants’ Division. “Although there is currently a sense of uncertainty around the implementation of iXBRL, it is very much here to stay and I have no do...

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Link to the full survey

For anyone interested in looking at the full detail, here's a link to the survey on the Sage website.

Adrian Pearson, Top Accountants

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two thirds of accountants in practice...

"two thirds of accountants in practice have made or are planning to make significant changes to their IT or business processes in order to meet iXBRL requirements for online filing"

This is a staggering statistic considering that most accounting systems will have iXBRL upgrades in them as part of their maintenance package.  If you own an accounting package you should simply see a new button called "Export in iXBRL" in the space next to the "Export in pdf" button (names might differ!!)   Before anyone replies listing the complexities of iXBRL, it's OK I know...it's just that when you have a relational database and a consistent output the complexities reduce after the first time.  If you prefer or need to use Word or Excel to produce accounts that's where you need to consult someone like Arkk who have cleared that hurdle.

 

-- www.arkksolutions.com

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