Semantic interoperability for financial information: A component-based approach

Semantic interoperability challenges emerged when comes to financial system integration and information exchange. This paper presents a component-based approach for financial information semantic interoperability. In the approach, taxonomies in XBRL GL have been modeled as core components in CCTS, which act as common understandings for interoperability participants. Additionally, guidelines for selecting and reusing these component-based XBRL GL taxonomies would be introduced to instruct users to assemble contextualized financial information.