Extensible Business Reporting Language (XBRL)

Dictionary of Accounting Terms for: Extensible Business Reporting Language (XBRL)
Extensible Business Reporting Language (XBRL)

formerly code named XFRML, a freely availabile 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. XBRL is not about establishing new accounting standards but enhancing the usability of the ones that we have through the digital language of business. XBRL will not require additional disclosure from companies to outside audiences. This new language allows the financial community to communicate in a universal language.

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