What is XBRL? XBRL stands for Extensible Business Reporting Language. XBRL is an open standard that uses Extensible Markup Language (XML)-based data tags to describe financial statements for both public and private companies.
Once XBRL tags are applied to data within financial reports, the data can be quickly shared, published, consumed, and reported without the need to re-key data.
XBRL has the potential to benefit all members of the business reporting supply chain.
XBRL is a freely available electronic language for financial reporting. It is an XML-based framework that provides the financial community a standards-based method to prepare, publish in a variety of formats, reliably extract and automatically exchange financial statements of publicly held companies and the information they contain.
This page provides links to XBRL sites and resources in order for you to keep up to date with this important issue and its impact on the financial audit community.