Extensible Business Reporting Language (XBRL)

Abstract

Financial Data and information is not only limited to the accounting activities, but is useful to other group and authority within or outside the organization for whomsoever it matters. Extensible Business Reporting Language (XBRL) is a method and technique to use the financial data and information from data source in such a way that a meaningful information could be obtained for taking decision. Under XBRL, a highly advanced software technique is applied in order to make the information more meaningful, error free and within shortest possible time. Present article explains in detail about the working mechanism, creation, use and benefits and key issues of XBRL as of now.