Label Linkbase[ edit ] This linkbase provides human readable strings for concepts. Using the label linkbase, multiple languages can be supported, as well as multiple strings within each language.
It concludes that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document.
The digital format will allow users such as investors, analysts and auditors to carry out software supported analysis and comparison of large amounts of financial information.
Access to annual financial reports for both professional and retail investors is essential for creating robust capital markets across the EU. Issuers must prepare their annual financial reports in the human readable XHTML Extensible Hyper Text Markup Language format, which can be read by standard browsers without the need for specialised tools; Only where annual financial reports contain IFRS consolidated financial statements must issuers label this information using XBRL Extensible Business Reporting Languagewhich is machine-readable.
ESMA will focus on developing the detailed technical rules, field test its proposed solution and afterwards submit the technical standard to the European Commission for endorsement around year-end XBRL - Extensible Business Reporting Language - is the missing link, the specification that allows financial and business reporting concepts to be expressed quickly, less expensively, and more.
The exTensible Business Reporting Language (XBRL) is likely the future of financial reporting.
XBRL is a computer language that “tags” each item and specifies what that item is. XBRL reporting has already been adopted for use in Australia, Japan, and the United Kingdom.
XBRL is an XML-based (eXtensible Markup Language) framework that provides the business community with a standards-based method to prepare, publish in a variety of formats, reliably extract, and automatically exchange financial statements.
Create Reports with XBRL. 08/16/; 7 minutes to read Contributors.
In this article. XBRL, which stands for eXtensible Business Reporting Language, is an XML-based language for tagging financial data, and enabling businesses to efficiently and accurately process and share their data.
eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data, which is being adopted as a reporting standard around the world.
You may have heard that “Extensible Business Reporting Language (XBRL) is coming.” Well, XBRL is not just “coming,” it is already here—and in places you may not have expected. This research provides an overview of this important topic for internal auditors.