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XBRL allows the expression of semantic meaning commonly required in business reporting. The language is XML-based and uses the XML syntax and related XML technologies such as XML Schema, XLink, XPath, and Namespaces. One use of XBRL is to define and exchange financial information, such as a financial statement.
Is XBRL a variant of XML?
A) XBRL is a variant of XML. XBRL is specifically designed for use in communicating the content of financial data.
What is the difference between XBRL and iXBRL?
At a technical level, an XBRL report is an XML document that can only be read with XBRL software. An iXBRL report is an HTML document that can be viewed directly in a web browser, as well as using XBRL software.
How do I convert XML to XBRL?
Process of Conversion from XML to PDF
- Download MCA XBRL Validation Tool.
- Install MCA XBRL Validation Tool.
- Download the Appropriate Taxonomy.
- Select the Appropriate Taxonomy.
- Select and Load XBRL (XML) file.
- Export to PDF.
What is the difference between XBRL and HTML?
HTML and XML are both mark up languages, but that’s where the similarities end. HTML (Hypertext Markup Language) is a way of “tagging” text to cause it display in a certain way. XBRL (eXtensible Business Reporting Language) is an XML based technology. In other words, XBRL can be used to store or transport data.
What is XBRL briefly list the advantages of XBRL?
XBRL offers major benefits at all stages of business reporting and analysis. The benefits are seen in automation, cost saving, faster, more reliable and more accurate handling of data, improved analysis and in better quality of information and decision-making.
What do you mean by XBRL?
eXtensible Business Reporting Language
XBRL stands for eXtensible Business Reporting Language. It is already being put to practical use in a number of countries and implementations of XBRL are growing rapidly around the world.
What is XBRL and its features?
XBRL is an Internet-based non-proprietary open standard which is used for the preparation, exchange and publishing of financial information among disparate computer platforms, software applications, and accounting standards. When formatted with tags, financial statements are called XBRL instance documents.
What is XBRL and how does it work?
XBRL enables preparers to utilize software to tag all financial items in their business reports to the elements within a taxonomy. This is accomplished with an Instance Document which can be electronically exchanged and validated between computers or viewed in a human readable format (this is called rendering).
What is an XBRL taxonomy?
Taxonomies are the reporting-area specific hierarchical dictionaries used by the XBRL community. They define the specific tags that are used for individual items of data (such as “net profit”), their attributes and their interrelationships.
How do I convert XBRL files?
How to convert XBRL File to PDF in 4 Easy Steps
- Step 1: Download the required documents from MCA website.
- Step 2: Download the XBRL Validation tool.
- Step 3: Select the appropriate taxomony.
- Step 3: Upload the document.
- Step 4: convert XBRL File to PDF.
Does XBRL use Standardised tags?
XBRL is a machine-readable, XML-based framework, which uses standardized taxonomies to organize and categorize data in SEC filings.