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Click to edit Master subtitle style 4/23/11 EXTENSIVE Business reporting language (Xbrl) Daniel Kohlin Jeremy Van Denack Tom Kilinski
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4/23/11 Introduction What is XBRL XBRL US Effects to Accountants and Auditors Benefits
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4/23/11 History of xbrL Being developed by XBRL International, an international not-for-profit group Began in 1998 Goal: Create a common form of online reporting for financial data Membership Companies: Professional services/consulting, software and technology
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4/23/11 How does it work Based off of Extensible Markup Language (XML) Taxonomies D Guidelines for classifying data and information Allows to “tag” a certain component such as revenues
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4/23/11 XBRL US Began as a committee of the AICPA Broke off onto its own in 2006 Works with the FASB to make taxonomies that adhere to US accounting principles
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4/23/11 Who benefits from xbrl: XBRL benefits all users of the financial information supply chain: public and private companies, the accounting profession, governments, regulators, analysts, the investment community, capital markets and lenders, as well as key third parties such as
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