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Executive Summary
eXtensible Business Reporting Language which is also known as XBRL, which is used as electronic communication of business and financial data as a type of computer language.   The two main reasons organizations value XBRL: There is more of a demand from public authorities and other organizations to submit reports in the XBRL format.   Using XBRL can offer other benefits to its users.
The use of XBRL is required by regulators in some jurisdictions for formatted financial reporting for example, Italy, Singapore, Japan, China, and the United States.   Soon, investors and analysts will be requesting companies to provide business and financial data in the XBRL format.   There can be tremendous benefits to organizations and stakeholders.   These organizations can no longer disregard the progress in XBRL.   There is an increase transparency from organizations providing information with stakeholders, regulators, and partners.   A lot of the information is transactional meaning data, logistics, invoices, purchase orders, etc, and other information has broader aspects regarding the operation of the organization.   These are called transfers and consist of information on risk, sustainability, compliance, and financial performance.   Often, financial and business information is fashioned on some type of computer software system and changed into a paper format.   Most of the time a portion of the paper copies is re-keyed into another analytical database.   More than a decade ago XBRL was create to assist in efficiency and effectiveness of data transfers.   XBRL is a way that leverages internet technologies to communicate business information to consumers.   XBRL provides the background that the consumers need to comprehend the business or financial information.   XBRL is the equivalent to Universal Product Code (UPC) or Quick Response (QR) code.   A UPC bar code is a product identifier such as a book or product item in Wal-Mart.   With XBRL chunks of information can be...

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Xbrl. Anti Essays. Retrieved December 14, 2018, from the World Wide Web: http://teachingsail.com/free-essays/Xbrl-583698.html


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