This is common, even between businesses that share the same financial software products. This inconsistency makes it difficult for organizations to share information reliably or cost effectively when performing many aspects of their business, including applying for credit, reconciling accounts, or reporting to investors, or many other common activities.
Most developed countries use XBRL for all financial reporting purposes. There are many documentation about XBRL which are suited to the accounting professionals and business men. However, there is a scarcity of technical documentation.
Please note that XBRL specification is a very complex specification and it would require more than one article to explain properly. Please stay tuned for more articles.
Taxonomy defines the structure of the document. It contains the definition of the tags that are used in the report. If you do not know how XLinks work, please visit the link. If you do, please read on. Linkbases define the relationships between the tags, or between tags and some other information contained in the taxonomy.
For example, a link can attach a human readable name to a tag, or it can define in which place a tag will appear in a human readable view of the XBRL document.
The instance is the XML document that contains the actual data, by instantiating the tags defined in the taxonomy schema documents. This data contained in the instance document coupled with the taxonomy creates a complete XBRL representation of data.
Its possible to analyze the data as well as to create nice human readable views for these data through a computer software. A concept is an idea. In XBRL, a concept is represented by an element definition in the taxonomy schema documents. A concept element definition must be in the substitution group of either a item element or tuple element in the XBRL instance namespace http: What is Substitution Group: Substitution group is a feature in XML schema to replace one element with another.
Say I have the following schema definitions.This is a list of XML schemas in use on the Internet sorted by purpose. XML schemas can be used to create XML documents for a wide range of purposes such as syndication, general exchange, and storage of data in a standard format.
XBRL Extensible Business Reporting Language for International Financial Reporting Standards (IFRS) and United. XBRL (Extensible Business Reporting Language) is an XML-based computer language for the electronic transmission of business and financial webkandii.com goal of XBRL is to standardize the automation of business intelligence ().
XBRL (Extensible Business Reporting Language) is an electronic format for simplifying the flow of financial statements, performance reports, accounting records, and other financial information between software programs.
XBRL (Extensible Business Reporting Language) is an XML-based computer language for the electronic transmission of business and financial data.
The goal of XBRL is to standardize the automation of business intelligence (BI). XBRL is an open standard which is overseen by a . DEFINITION of 'eXtensible Business Reporting Language - XBRL' eXtensible Business Reporting Language is a standard that was developed to improve the way in which financial data is .
From the XBRL Home Page: "XBRL is an XML-based, royalty-free, and open standard delivering benefits to investors, accountants, regulators, executives, business and financial analysts, and information providers Extensible Business Reporting Language (XBRL) brings the publication, exchange, and analysis of the complex financial information in corporate business reports into the .