XBRL is a language for the electronic communication of business and financial data. It is used in the preparation, analysis and communication of business information.
XBRL stands for eXtensible Business Reporting Language. It is one of a family of "XML" languages. Each piece of data is assigned a unique, predefined data tag similar to a barcode identifying the information’s content and structure. Through tagging, XBRL allows data to interface with databases, financial reporting systems, and spreadsheets. This facilitates the integration of related financial information within a company’s financial reports, thereby allowing effective communication of financial performance to stakeholders.
The standard is governed by a not-for-profit international consortium, the XBRL International Incorporated, made up of approximately 450 organizations, including regulators, government agencies, and software vendors.
Comment Preview