Why is microsoft shares so low
XBRL not only accommodates accounting standards and policies in place today but is also flexible enough to accommodate future accounting standards and direction.
For what is XBRL used? XBRL is used to digitally publish financial statements and other relevant accounting disclosures of companies of all makes and sizes, both public and private. An XBRL-based financial statement contains the information found in traditional financial statements such as the Balance Sheet, Income Statement, Cash Flow and Statement of Stockholders Equity in a format that can more easily be recognized and understood by computers.
From the creation process, XBRL documents can be exchanged reliably and published more easily. On the analytics side, XBRL enables a dramatic improvement in the processing of financial reports by allowing the information to be analyzed more quickly. What are the benefits of XBRL? XBRL brings standardization to today's business reporting supply chain. At its highest level, XBRL improves the efficiency of communication to investors, as well as the aggregation and analysis of business report information, such as financial statements.
XBRL provides an electronic dictionary of terms that enable the tagging of business report information, which can then be transferred across disparate systems for use in activities such as analysis.
It allows participants in the business reporting supply chain to spend less time doing data entry and cleansing, and more time on value-added activities like data analysis. The following table summarizes how XBRL affects the various consumers of financial data: Group Effect Analysts, investors, and regulators Enhanced distribution and usability of existing financial statement information that enables automated analysis, significantly less re-keying of financial information from one form into another , and receiving information in a preferred format for a specific style of analysis.
Financial publishers and data aggregators More efficient data collection that lowers operating costs associated with custom, idiosyncratic data feeds and reduces errors while adding value to the data and increasing transaction capacity. Software vendors Increased potential for full interoperability with other financial and analytical applications: virtually any software product that manages or uses financial information can use XBRL for its data export and import formats.
These products include general ledger and accounting systems, report writers, XML editors, and business applications like Microsoft Word and Microsoft Excel.
XBRL increases the re-usability of financial statement information. Instead of creating multiple report outputs for multiple purposes, a single XBRL document can be created that addresses most needs. This reduces the number of total reports that need to be created and also reduces the re-keying of financial data for analytical and other purposes.
Externally, investors will have better access to financial results because XBRL facilitates effective and timely analysis of that information.
Documents prepared in HTML contain reference graphics and formatting tags. Put another way, HTML is a series of predefined tags that primarily focus on describing how content appears on the Web. For example, HTML describes the font, font size, and color of the text in this paragraph should be when viewed by a Web browser.
HTML offers content but no real context. XML Extensible Markup Language is the universal format for data on the Web that uses tags to give context and structure to content. Rather, XML is a complimentary format that is platform independent, allowing XML data to be rendered on any device, such as a computer, cell phone, personal digital assistant PDA or tablet device. XML allows developers to easily describe and deliver rich, structured data from any application in a standard, consistent way.
Instead, XML provides a framework for defining tags i. XBRL is a complement to XML, allowing accountants and regulatory agencies to identify items that are unique to a given business reporting environment. These dictionaries provide a set of business reporting tags or terms that allow users to identify business information in a consistent format.
XBRL is also extensible in that users are able to create their own XBRL dictionaries that define and describe tags unique to a given environment. An example of this type of dictionary is the Microsoft custom taxonomy, which can be found on the download page. Follow us Share this page. Read Press Release. Earnings will be released after the stock market closes. Enhanced distribution and usability of existing financial statement information that enables automated analysis, significantly less re-keying of financial information from one form into another , and receiving information in a preferred format for a specific style of analysis.
More efficient data collection that lowers operating costs associated with custom, idiosyncratic data feeds and reduces errors while adding value to the data and increasing transaction capacity.
Increased potential for full interoperability with other financial and analytical applications: virtually any software product that manages or uses financial information can use XBRL for its data export and import formats.
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