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Unformatted text preview: XML is a language designed to develop other languages, such as XBRL. ii) We have all used tags to exchange information. Whats your NAME and PHONE number? What is the BALANCE of my account? XML uses groups of tags in the form of a Taxonomy to describe data for a particular audience. XML taxonomies are "vocabularies" or "dictionaries" or Schemas created by a group in order to exchange information. Ernst & Young LLP is a founding sponsor of XBRL International which is developing Business Reporting Taxonomies ( XBRL ) . These taxonomies will be used when storing or exchanging financial and operational information internally in a company, and when reporting externally to investors, analysts, regulators and customers. Its global standards consortiums are currently developing taxonomies for both vertical industry and horizontal cross-industry groups. Check out overview of XBRL ....
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- Spring '09