Business reporting and fundamentals of xbrl

  • What are the fundamentals of XBRL?

    XBRL Fundamentals provides a foundational level proficiency including an introduction to the XBRL standard, US GAAP Taxonomy, and the XBRL requirements in the United States for public companies that report to the SEC.
    You'll learn the details on the SEC requirements for tagging US GAAP financial statements..

  • What is the role of XBRL in business reporting?

    XBRL is used to deliver human-readable financial statements in a machine-readable, structured data format.
    Preparers using GAAP for publicly traded companies are required not only to create financial statements, but also to assign an XBRL tag to every number, table, accounting policy, statement, and note..

  • What is XBRL reporting and segment reporting?

    eXtensible Business Reporting Language (XBRL) is a freely available global framework of accounting standards used for exchanging business information.
    XBRL is based on XML coding and is a standardized way of transmitting financial records around the world..

  • Why is XBRL important for reporting?

    XBRL enables the automation of the data collection process and provides faster access to originally reported financial statement data for more detailed and robust analysis with multiple companies in a shorter time period and more affordably than traditional, normalized, or adjusted data sets..

  • Adopting XBRL improves transparency and, more generally, a better financial reporting quality that will facilitate the decision-making for potential investors.
  • Applicability of XBRL filing
    All public companies listed on the stock exchange in India and their Indian subsidiaries.
    All businesses who have a turnover of Rs 100 crores or exceed.
    All companies who possess a paid-up capital of Rs 5 crores or exceed it.
  • eXtensible Business Reporting Language (XBRL) is a freely available global framework of accounting standards used for exchanging business information.
    XBRL is based on XML coding and is a standardized way of transmitting financial records around the world.
  • XBRL enables producers and consumers of financial data to switch resources away from costly manual processes, typically involving time-consuming comparison, assembly and re-entry of data.
    They are able to concentrate effort on analysis, aided by software which can validate and manipulate XBRL information.
  • XBRL is the international standard for digital reporting of financial, performance, risk and compliance information, although it is also used for many other types of reporting.
    The open XBRL specifications are freely licensed to anyone seeking to use the standard.
Jun 16, 2021This module introduces some of the basic concepts of XBRL. The intent is to provide optional background information to support the 
Specifically, XBRL defines data-formatting conventions and vocabularies for marking up and describing business report data, such as sales or net assets. Like XML, it is tag based. Descriptions in the form of tags or labels are attached to the various pieces of business data.
XBRL (eXtensible Business Reporting Language) is an XML-based computer software language that is developed specifically for the automation of business information requirements, such as the preparation, sharing and analysis of financial reports, statements, and audit schedules.
XBRL makes the analysis and exchange of corporate financial information easier and more reliable by allowing data to be extracted and processed automatically by XBRL-aware applications.
XBRL is the open international standard for digital business reporting, managed by a global not for profit consortium, XBRL International. We are committed to 

Do companies need to file full XBRL?

However, if a company is a solvent exempt private companies, then they do not need to file full XBRL.
Instead, they are encouraged to file full XBRL financials or financial statements highlights in XBRL format.
Preparing and filing the financial statements in XBRL format can be confusing.

Does Management Reporter support XBRL?

Management Reporter supports XBRL, or eXtensible Business Reporting Language.
XBRL functionality in Management Reporter allows you to prepare, publish, and exchange financial statements in a common format.
Regulating authorities create taxonomies that regulate the tagging of data in this common format.

What Are Some of The Most Important Features of XBRL?

Clear Definitions

What is XBRL financial statements reporting?

XBRL financial statements reporting is a written form of communication to the managers of a company, government agencies that are mandated and the investors that have vested interests in the company.
The report shows the financial status and the path that it has followed to its current stability at the time of reporting.

What is XBRL fundamentals?

XBRL Fundamentals provides a foundational level proficiency including:

  • an introduction to the XBRL standard
  • US GAAP Taxonomy
  • and the XBRL requirements in the United States for public companies that report to the SEC.
    You'll learn the details on the SEC requirements for tagging US GAAP financial statements.

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