Новите стандарти за обмен на отчетни данни – предимства и предизвикателства
The New Standards for the Exchange of Reporting Data – Advantages and Challenges

Author(s): Ilonka Deneva
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: standardized information exchange; dpm-models; validation; taxonomy
Summary/Abstract: The new standards for the exchange of accounting data come up on the principles, methods and functions of accounting knowledge as an element of science and are a reflection of the developed society. They are literally a 'language' for standardized information exchange that implies the use of a 'vocabulary', 'structure' and 'rules' to organize and present the data available in a consistent, comparable and computer-readable form. The presentation of data from financial statements in the XBRL (eXtensible Business Reporting Language) format and in the unified format based on the Standard Audit File for tax purposes SAF-T (Standard Audit File-Tax, v.2.0) are a qualitative leap in the process of processing the data. Automating the acquisition, validation and taxonomy of data through software offers a more efficient handling of risk management (at national and European level), reducing the administrative burden for business and administration. Co-effects such as cost reduction, while improving data quality, interconnection and comparability through their global standardization accelerates the processes of spreading the use of models. At the same time, the realization of these benefits also meets new challenges in front of science, the technologically development and moral norms of society. The price for their introduction, the technical capacity for timely and correct implementation, as well as the transfer from the existing system to the new one, are part of them. Developments in economic science and changes in accounting standards necessitate updates to the taxonomy introduced by institutions such as the ECB and the EBA. These changes also hinder the global functioning of the new models due to the updating of taxonomic units with their characteristics, which leads to the appearance of errors.

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