In today’s scenario, the business information reporting is very important for a business. This is the reason why most of the business enterprises demand high transparency, faster sharing of information and widespread reporting. Businesses are thankful to file their cost record compliance statements and cost audit reports by using eXtensible Business Reporting Langauge XBRL. This reporting language can be learned through XBRL certification.
What is XBRL?
The eXtensible Business Reporting Language is the worldwide standard for all kind of business and economic reporting. This language minimizes the time that is needed to update financial information and guarantee streamlined reporting greatly. Learning this will help an individual to use this language for the internal adoption of XBRL projects. This language can be learned through information technology course which provides the participants with the vital knowledge to improve the performance of the organization. It provides the skills that are needed for making correct decisions at the same time implementing and using XBRL tools and taxonomies.
It is the open international standard for digital business reporting which is maintained by global XBRL international consortium. This language is used in over 50 countries around the world. By using this reporting language, over millions of documents are generated each year which replaces the older and paper-based reports. The reports generated with this reporting language are very useful and it is more accurate and more effective digital versions.
XBRL does the following
- XBRL enables reporting more precise and more competent. It allows exclusive tags to be linked with reported facts, which in turn allows
- People to distribute their reports and this can be done with confidence that the information contained in the reports can be consumed and analyzed accurately
- People to consume reports to test them over a set of logical and business rules, in order to find and avoid mistakes at their source
- It allows people to use their needed information and allows them to use different languages, alternative currencies and in their preferred style
The comprehensive definitions and data tags allows the following
- Consumption and
The information in the reports is prepared with the XBRL standards which can be used in various information systems. This is the reason for considering this language as a best business reporting language.
What will participants learn?
Participants will learn about the
- Different type of data exchange structures in the reporting process of electronic business
- The addressing goals of electronic communication of business data with XBRL model
- Using XBRL across varied reporting scenarios for international and national projects
- XBRL model development and governance approach
- XBRL stipulations and business reporting methodology
- XBRL structural design: Similarities between taxonomies and instance documents
- Integrating XBRL with business reporting process: Outcome of XBRL implementation on data collection, transfer, validation, storage, and subsequent usage
Who can learn this?
The eXtensible Business Reporting Language XBRL is suitable for the following professionals
- Finance professionals
- Financial controllers
External Reporting Managers