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XBRLS is intended to enable the non-XBRL expert to create both XBRL metadata and XBRL reports in a simple and convenient manner. At the same time, it seeks to improve the usability of XBRL, the interoperability among XBRL-based solutions, the effectiveness of XBRL extensions and to reduce software development costs.
XBRL is an open standard "language" for the digital exchange of reports. The taxonomy "enables businesses to generate the required reporting information directly from their own records and the government, to then process this information efficiently and effectively". [7] Data exchange via Digipoort takes place through XBRL as much as possible.
NEXT shares a small business checklist to help navigate tax preparation, bookkeeping, financial analysis, business strategy, and more. 1. Catch Up on Bookkeeping
XBRL (eXtensible Business Reporting Language) is a freely available global framework for exchanging business information. XBRL allows the expression of semantics commonly required in business reporting. The standard was originally based on XML, but now additionally supports reports in JSON and CSV formats, as well as the original XML-based syntax.
XBRL is designed to standardize the data, processes and rules of Business Reporting as a whole, although most implementations focus on financial reporting. XBRL GL can support the detail and integrate to all manners of reporting, financial, tax, sustainability, statistics and otherwise, and carry both quantitative and qualitative information.
XBRL was originally the work of the AICPA, created as a way to advance financial reporting and facilitate the global exchange of financial data.XBRL International was created to ensure compatibility and agreement among industry members and to promote adoption of the standard around the world.
An XBRL report is part of a digital reporting supply chain. The auditor should not focus only on the reliability of the report itself. It is better to focus on the whole supply chain including the communication over a network of the report. The auditor needs to check if the report that has been sent (and received) is complete and in time.
Although SAF-T is formally standardized, both with respect to syntax (format) and semantics (meaning) to allow for and fulfill automatic data interchange and tools support, e.g. across country borders or common computerized systems, it does include some room for revenue bodies (tax administrations) to add individual elements, e.g. to cover ...