- 1 decade agoFavorite Answer
XBRL is a language for the electronic communication of business and financial data.
XBRL is a member of the family of languages based on XML, or Extensible Markup Language, which is a standard for the electronic exchange of data between businesses and on the internet. Under XML, identifying tags are applied to items of data so that they can be processed efficiently by computer software.
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. They provide a range of information about the item, such as whether it is a monetary item, percentage or fraction. XBRL allows labels in any language to be applied to items, as well as accounting references or other subsidiary information.Source(s): http://www.xbrl.org/HowXBRLWorks/
- LittlebitLv 61 decade ago
Extensible Business Reporting Language
- 7 years ago
XBRL is a language same like other programming language which is used for the electronic communication of business and financial data.
There are lots of software based on this language and used in the COREP...!!!Source(s): arkk solutions