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How to use XBRL taxonomy?

You set up XBRL lines by mapping the data in the taxonomy to the data in your general ledger. Choose the. On the XBRL Taxonomies page, select a taxonomy from the list. Choose the Lines action. Select a line and fill in the fields. To read detailed information about what to fill in, choose the Information action.

What is XML and XBRL?

XBRL is a powerful and flexible version of XML which has been defined specifically to meet the requirements of business and financial information. It enables unique identifying tags to be applied to items of financial data, such as net profit. However, these are more than simple identifiers.

Who is authorised to develop XBRL?

XBRL is being developed by XBRL International, an international non-profit consortium of approximately 450 major companies, organisations and government agencies working together to build the XBRL language and promote and support its adoption.

When was iXBRL introduced?

Understand the iXBRL accounts format In the UK, both HMRC and Companies House accept iXBRL tagged sets of accounts and introduced a joint filing service in 2010. Since then, most companies file their company tax returns online in iXBRL, including financial accounts and computations.

When was XBRL invented?

XBRL was developed in 1998 with version 1.0 by the American Institute of Certified Public Accountants (AICPA). The latest version of the standards, v2. 1 was formalized in the year 2003.

Who created XBRL?

In 1998, Charlie Hoffman, a single CPA who worked for a small CPA firm in Washington state, had the idea of XBRL as a way of totally transforming business reporting. (Read XBRL: Its Unstoppable A Conversation with the Father of the Digital Language of Business.)

Is XBRL still used?

XBRL is a digital language and framework used to communicate business information that is mandated by many regulators around the world. The number of implementations of XBRL globally exceeds 214 and continues to increase.

What is the purpose of XBRL?

XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information.

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