The use of XBRL in managerial accounting

Accounting professionals recognized the potential of XML as a way to share accounting information using the internet. For this purpose the standard ABRL is being developed based on XML. So far the definition of ABRL has focused on external accounting. Managerial accounting could, however benefit in similar ways from the use of XML. It could for example ease the information sharing for global companies with different information system standards. It could also enhance reporting by integrating external data in a convenient way. ABRL will open ways for a new reporting using the functionality of the internet. For that purpose however a similar framework for managerial accounting as for financial reporting is needed, and some design support tools as well.