Essay on XBRL Extensible Business Reporting Language

Extensible Business Reporting Language, otherwise referred to as XBRL is a standard introduced, and is now used worldwide. “XBRL is based on Extensible Markup Language (XML), a widely accepted technological standard that defines a set of rules for encoding documents in a format that both humans and machines can read.” (Rashty, 2013). Its main purpose is to improve the way business reporting is presented to the public, by making reports more accurate and efficient. It is managed by a non for profit

“What is XBRL and how does it work?” and “What is an extension and when it is used by filers in XBRL submissions?” XBRL (eXtensible Business Reporting Language) is a programming language for the electronic communication of business and financial data around the world (Weber, 2003). XBRL is based on XML document (Extensible Markup Language). According to XML, the identification labels are applied to data for better processing through the use of software (Debreceny et al, 2010). 2.2 XBRL historical

Introduction Financial reporting being my last module in this course has been quiet rewarding and beneficial as it provides comprehensive guidance for the acquisition of requisite knowledge and skill to appraise my current role as an accountant. The theories, concepts and ideas introduces new areas otherwise would not have been exposed to, for example, potential uses and limitations of Extensible Business Reporting Language (XBRL). It laid solid foundation for the application of financial accounting

Understanding Business Research Terms and Concepts Anna M Teffeau RES/351 - BUSINESS RESEARCH 6/30/2014 Annette West Understanding Business Research Terms and Concepts There are many different types of quantitative data collection instruments and sampling methods available to researchers. The ones that I have picked for the purpose of his paper are questionnaire, sampling and surveying. Each can be a value to a researcher when completed with accuracy. Validity is the degree to which

detection and misleading disclosure by implementing the Accounting Quality Model (AQM) using the Extensible Business Reporting Language (XBRL) (p.68). Boyle et al. mentioned Craig M Lewis, director and chief economist of the SECs Division of Economic and Risk Analysis, described AQM as a highly technical robust tool on detecting fraud and other accounting anomalies, while others called it “Robocop” as the use of XBRL tags is capable of computerized analysis and enhanced access to financial data by the stakeholders

The Control Matrix A tool designed to assist in analyzing the effectiveness of controls, PCAOB Auditing Standard Number 5 – “Effectiveness of Control Design” Establishes the criteria to be used in evaluating the controls in a particular business process Steps in Preparing a Control Matrix STEP I: Specify control goals 1. Identify the Operations Process Control Goals -Effectiveness goals -Efficiency goals -Security goals 2. Identify Information Process Control Goals -Input Goals -Update Goals Operations

to adopt today’s dynamic and turbulent business environment as the changing business has much more data which needs to be analyzed than before. A dynamic AIS is important for today’s business especially large enterprises because it can help cut costs, control risks and better plan resources (Prasad, A. and Green, P. 2015, p. 124). Under this circumstance, technology plays an essential role on making AIS possible to response to internal and external business changes. This paper will critically discuss

relating to data submitted using eXtensible Business Reporting Language (“XBRL”), in connection with the SEC’s disclosure modernization initiative. In a Fact Sheet accompanying its announcement, the SEC indicated that the “proposed amendments would require the use of Inline XBRL format for the submission of operating company financial statement information and mutual fund risk/return summaries. The proposal would also eliminate the requirement for filers to post XBRL data on their websites.” The Fact

Auditing Theory College 1: Het waarom van de accountantscontrole Agency theorie: De agency theorie legt de relatie tussen de 3 perspectieven uit. De drie partijen zijn, namelijk de principaal (investeerder), agent (management)en monitor (accountant). De agency costs nemen relatief meer toe dan dat het aandelen bezit van de manager afneemt. Daarnaast kunnen de agency costs die groei begrenzen door dat eventuele investering niet gedaan kunnen worden. Je kan er van uit gaan dat de agency costs een negatieve

Systems, Compliance, and Ethics Key Terms Chapter 9 Link Library Evaluate and Expand Your Learning • IT and Data Management Decisions • Questions for Discussion &Review • Online Activities • Collaborative Work Case 2, Business Case: Station Casinos ' Loyalty Program Case 3, Video Case: Superior Manufacturing Wipes the Competition Data Analysis &Decision Making: SunWest Foods '