Hw3_xbrl_sp10-2

Hw3_xbrl_sp10-2 - Homework 3: Research and Learn about XBRL...

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Homework 3: Research and Learn about XBRL Purpose: The purpose of this assignment is to increase your awareness XBRL technology and how it might be used in businesses today and in the future. Learning Objectives: Using online resources available to you, find what you can about XBRL and its adoption by the financial industry. The goal of your research is to discover the answers to the following questions. It is not expected that this assignment will make you an expert on XBRL, but rather it should introduce you to the vocabulary of the technology, some of it motivators, and some implementation issues. 1. What is HTML? HTML stands for Hyper Text Markup Language. It is a type of computer language that is primarily used for files that are posted on the internet and viewed by web browsers. HTML files can also be sent via email. HTML (Hypertext Markup Language) is a standard way of marking up a document so it can be published on the World Wide Web and viewed in a browser. It provides a set of pre-defined tags describe on how content appears in a browser. For example, it describes the font and color of text. It gives little information on meaning or context. XML (Extensible Markup Language) uses tags to identify the meaning, context and structure of data. 2. What is XML? Contrast it with HTML? XML stands for EXtensible Markup Language. XML is a markup language much like HTML. XML was designed to carry data, not to display data. XML tags are not predefined. You must define your own tags. XML is designed to be self-descriptive. XML is a W3C Recommendation. XML is not a replacement for HTML. XML and HTML were designed with different goals: XML was designed to transport and store data, with focus on what data is. HTML was designed to display data, with focus on how data looks. HTML is about displaying information, while XML is about carrying information. XML is a standard language which is maintained by the World Wide Web Consortium (W3C). XML does not replace HTML; it is a complementary format that is platform independent, allowing XML data to be rendered on any device such as a computer, cell phone, PDA or tablet device. It enables rich, structured data to be delivered in a standard, consistent way. Whereas HTML offers a fixed, pre-defined number of tags, XML neither defines nor limits tags. Instead,
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XML provides a framework for defining tags (i.e. taxonomy) and the relationship between them (i.e. schema). 3. What is XBRL? Contrast it with XML? XBRL stands for eXtensible Business Reporting Language. The X also stands for XML, a computer language similar to HTML that is a powerful means of communicating via the Internet. At its most technical, XBRL is a method of exchanging information of a business or financial nature. XBRL is an XML-based schema that focuses specifically on the requirements of business
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Hw3_xbrl_sp10-2 - Homework 3: Research and Learn about XBRL...

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