Case Study: XBRL for Integrated Internal Management Reporting

Traditionally, XBRL has been used for regulatory reporting.  This article, Using XBRL and big data to improve decision-making, written by Yanchao Rao, Bing Leng, Xiuping Mu, Chao Li, Xiaofeng Hu, and John Turner and published by Financial Management magazine provides information about implementing a big-data-led transformation using XBRL at the China National Petroleum Corporation's Hubei Sales Company (the HSC).

HSC took advantage of XBRL to integrate a cross-platform and heterogeneous systems to share and integrate enterprise data to support decision-making in areas including daily operations, market prediction, asset evaluation, cost control, investment, and risk identification.  The HSC operates 824 petrol stations and 13 oil depots.

The HSC has 21 heterogeneous information systems with decentralised data storage and nonstandardised and inconsistent data which had hindered data integration.  The financial control system and the other 21 disparate information systems in use at the HSC could provide a large amount of management accounting information, but the data is scattered through all the systems in different formats with significant noise and error, meaning it needs cleaning to be converted into valuable data.

XBRL was used to integrate the internal financial control system and the other 21 disparate information systems giving HSC one data set to work with leveraging data cubes provided by their XBRL-based integrated system.



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