Japan also has a mandate in place. The SEC subsequently made technical corrections to the rules contained in its adopting release. Tax authorities that need financial statements and other compliance information from companies in order to process and review their corporate tax affairs.
GAAP including smaller reporting companies and all foreign private issuers that prepare their financial statements in accordance with International Financial Reporting Standards will be required to provide interactive data in XBRL format beginning with their first periodic report on Form Q, Form F or Form F for a fiscal period ending on or after June 15, Analysts and Investors Analysts that need to understand relative risk and performance.
Australian Prudential Regulatory Agency. Manual processes are minimized by allowing automation of data validation and analysis, reducing time-consuming and costly collation and reentry of information. Governments Government agencies that are simplifying the process of businesses reporting to government and reducing red tape, by either harmonising data definitions or consolidating reporting obligations or both.
Securities regulators and stock exchanges that need to analyse the performance and compliance of listed companies and securities, and need to ensure that this information is available to markets to consume and analyse. However, an interactive data exhibit will only be required to be submitted with a Securities Act registration statement after a price or price range has been determined and at any time thereafter when the financial statements have been changed.
But the real power of this standardization is that it lays the groundwork for a new generation of tools that companies and authorities can use to mine public data and thereby spot trends, manage risk, and improve compliance and governance. Domestic and foreign large accelerated filers that use U.
To truly understand XBRL, and to leverage and benefit from the standard we encourage everyone to join the consortium. These business rules can be used to: Regulators Financial regulators that need significant amounts of complex performance and risk information about the institutions that they regulate.
Find out more by exploring this site. These taxonomies capture the meaning of all reporting terms used within a business report, as well as how those terms interact with each other.
Notes to the financial statements: This taxonomy is based on the U. Generally Accepted Accounting Principles. Other regulatory authories that mandate conformance to some XBRL taxonomy for filing corporate financial statements include: Foreign private issuers that do not prepare their financial statements in accordance with U.
Governments Government agencies that are simplifying the process of businesses reporting to government and reducing red tape, by either harmonizing data definitions or consolidating reporting obligations or both.
Analysts and Investors Analysts that need to understand relative risk and performance.The eXtensible Business Reporting Language (XBRL) is an XML-based standard that is widely used to define the required content of electronic filings of financial statements by public companies.
An increasing number of regulatory authorities around the world are mandating XBRL for financial statements and for other purposes as well.
AIS Final: XBRL. Overview of yellow book for Steven Hornick's AIS Class PLAY. XBRL stands for. Extensible Business Reporting Language. What do metatags do. Provide meaning, which make it considered to be information.
XML stands for. Extensible Markup Language. What is XML. a set of rules and a syntax for adding meaning to data and. The eXtensible Business Reporting Language.
A software- and hardware-independent way of coding financial data. According to ultimedescente.com, it is "a language for the electronic communication of business and financial data which is set to revolutionize business reporting around the world. XBRL is an Extensible Business Reporting Language for electronic communication of business information providing major benefits in the preparation, analysis, communication of Annual Financial Statements.
(XBRL) is a language for the electronic communications of all sort of businesses and the exchange of financial data that is transforming business reporting around the globe. First in this research, I will discuss the definition and origins of (XBRL), and then I will summarize how (XBRL) works.
eXtensible Business Reporting Language Moving to a global standard for electronic business reporting The movement toward eXtensible Business Reporting Language, or XBRL, as a standard global framework to support the more effective production, consumption, and exchange of financial and.Download