Does anyone what XBRL is? If so, what is XBLR potential effect on financial reporting and how do you see it fitting into the analysis if financial information?
2007-02-26 04:01:06 · 3 answers · asked by Munch_101 1 in Business & Finance ➔ Other - Business & Finance
XBRL stans for eXtensible Business Reporting Language. It is simply a standard by which financial data can be transmitted. It's a text based format, and it is essentially something known as XML which has been in use for many years. XBRL defines what fields are to be sent and how to send them. It allows an end user of the data to more easily take in and process data from multiple different sources since it will all be in the same format. This makes it easier to compare the financials of different organizations.
2007-02-26 04:10:01 · answer #1 · answered by Louis G 6 · 0⤊ 0⤋
XBRL is a freely available and global standard for exchanging business information. XBRL allows the expression of semantic meaning commonly required in business reporting. as per wikipedia.
It generally use for the accounting and payrolls.
2014-06-26 04:39:39 · answer #2 · answered by Gerald 3 · 0⤊ 0⤋