XBRL is a data-rich dialect of XML that provides a common electronic format for business reporting. It was developed to facilitate the exchange of financial information between businesses, analysts, investors, and regulators. XBRL International, a global non-profit consortium, defines the basic specifications for how XBRL works and maintains worldwide standards. While XBRL provides benefits like accurate and efficient information sharing, its usage remains limited and it faces challenges like potential errors and security risks.

1. T Y B M S
R A C H A N A K . C H A W D A
XBRL
Extensible Markup Language

2.  XBRL is a data-rich dialect of XML (Extensible
Markup Language), the universally preferred
language for transmitting information via the
Internet.
 It was developed specifically to communicate
information between businesses and other users of
financial information, such as analysts, investors
and regulators.
 XBRL provides a common, electronic format for
business reporting. It does not change what is
being reported. It only changes how it is reported

3.  XBRL is a world-wide standard, developed by an
international, non-profit-making consortium, XBRL
International Inc. (XII).
 XII is made up of many hundred members,
including government agencies, accounting firms,
software companies, large and small corporations,
academics and business reporting experts.
 XII has agreed the basic specifications which define
how XBRL works

4. Features
 Clear definitions-taxonomies
 Testable business rules
 Multi lingual support
 Mandatory requirement
 Company must be listed on stock exchange
 Company must have paid up capital of Rs. 5 crores
and more
 Company must have turnover of Rs. 100 crore and
above

5. Advantages
 Reporting language authoratively defined
 Flow of information
 Digital information
 Sharing and analysis
 Accurate and time saving
 Exchange of reports
 Cost effective

6. Disadvantages
 Limited usage
 Error
 Inconsistency
 Security risk

7. Users
 Banking Regulations
 SEBI
 Stock Exchanges
 Registrar of companies
 Tax authorities
 Data providers
 Companies
 Credit Rating Agencies
 Government
 Analyst
 Investors
 Accountants