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eXtensible Business Reporting Language (XBRL) is an internet-based interactive form of reporting language that is expected to enhance the usefulness of financial reporting (Yuan and Wang, 2009). In the UK and the USA, XBRL is mandatory, and in Australia, it is voluntarily adopted. It has been reported that in the not too distant future, XBRL will be the standard format for the preparation and exchange of business reports (Gettler, 2015). Using an experimental approach, this study assesses the usefulness of financial reports with XBRL tagged information compared to PDF format information for non-professional investors. The authors investigate participants’ perceptions of usefulness in relation to the qualitative characteristics of relevance, understandability and comparability.

This paper uses an experimental approach featuring a profit-forecasting task to determine if participants perceive XBRL-tagged information to be more useful compared to PDF-formatted information.

Results reveal that financial information presented with XBRL tagging is significantly more relevant, understandable and comparable to non-professional investors.

The authors address a gap in the literature by examining XBRL usefulness in Australia where XBRL adoption will be mandated within the not too distant future. Currently, the voluntary adoption of XBRL by preparers and users is low, possibly, because of a lack of awareness about XBRL and its potential benefits. This study yields significant implications for the accounting regulators in creating more awareness on the benefits of using XBRL and to create an impetus for XBRL adoption.

The purpose of this paper is to develop hybrid aluminum metal matrix composite by stir casting process, reinforced with graphite and hard boron carbide particles to enhance the wear resistance. An attempt is made to optimize the wear (weight loss) and coefficient of friction (COF) by considering three factors, i.e. normal load, track diameter and sliding speed which were varied at three different levels.

The effect of graphite and boron carbide on microhardness was studied by adding them in varying percentages. After determining the best combination of hybrid reinforcements, optimization of wear (weight loss) and COF was carried out at various levels of considered factors. Taguchi design of experiments was used using the software “Minitab 16.1”. ANOVA was used to analyze the effect of various parameters on wear and COF. To validate the results, mathematical modeling was carried out in terms of regression equations and results obtained by regression equations.

The results revealed that the lower weight percentage of graphite (3 per cent) and boron carbide (1 per cent) significantly improved microhardness of developed composites. Results of ANOVA revealed that normal load was the main contributing factor for wear and COF. The results obtained by regression equations and confirmatory tests were within the results obtained by ANOVA.

To the best of the author’s knowledge, very less work has been reported on optimization of wear and COF using hybrid reinforcement particles of graphite and boron carbide.