What is XBRL, XBRL

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What is XBRL?

     

XBRL stands for eXtensible Business Reporting Language that  is used for  publishing  financial  information in the XML format. XML is a  computer language like HTML used for  interchanging the documents on the World Wide Web. It is most widely used in Accounting , Banking, Financial Analyzing, Crediting, Statistical Analyzing and Stock Marketing etc. It is an open standard language and need not to pay the license fee. 

XBRL is designed to exchange the accounting information and financial statement  in the XML tag. It  arrange the data  in a separate entity with its own identity tag, even it is quite capable to classify  the large groups of data with their unique tags. Thus this a more natural and user-friendly way for data to interchange. 

XBRL is a faster language that direct transfer the numbers of data from one place to another within a few microseconds. This makes easy in searching the data, checking credits, building reports analyzing and preparing the financial reports. 

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What is XBRL, XBRL

Posted on: April 18, 2011 If you enjoyed this post then why not add us on Google+? Add us to your Circles

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