The purpose of eXtensible Business Reporting Language (XBRL) is to make certain parts of SEC filings and other business documents machine readable. Ideally, the automated data gathering that XBRL ...
Implementation Challenges Although XBRL has several benefits, there are significant challenges in its global implementation, some of which are listed below: • Definition of taxonomy: The definition of ...
"The goals were timely and accurate data, stronger internal controls, reduced costs, a standardized system of seamless data exchange, business processes and data elements. XBRL met all of those goals.
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