Week 5 Threats in the Production Cycle post 3.docx - Let's discuss a relatively new technology XBRL What does this stand for Do you think it is a good

Week 5 Threats in the Production Cycle post 3.docx - Let's...

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Let's discuss a relatively new technology, XBRL. What does this stand for? Do you think it is a good candidate to help standardize reporting? Why or why not? The Extensible Business Reporting Language (XBRL) is a data tagging tool that very useful because it facilitates the search and studies the financial information of companies. I believe that based on its advantages and disadvantages this can contributes to standardize reporting. One of its advantages is that the taxonomy of financial reports (digital dictionary) of the US GAAP for public and private companies, tagged in XBRL, allows companies to access with accuracy the large volume of information included in the financial statements. The tags allow searching and collecting data automatically so that investors, analysts and other entities can analyze
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  • Spring '11
  • GEORGE

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