Internet financial reporting- Refers to the use of the as a by companies for their & other financial reporting

The key attributes of any standard for financial reporting is to ensure are to create, does not require & use hardware or software

Mark-up language- A programming using to how text should be

Taxonomy- A of which have characteristics into

The main difference between XBRL & iXBRL is that iXBRL contains instructions to allow to the file

The <> tag where a tag & the </> tag where a tag

Financial reporting data commonly required by many bodies such as , investors, , customers & , such as authorities. Public organisations are legally required to publish such

Lack of standard method of transmitting financial reporting data leads to of if data is , manually . Solution to such problems is (XBRL)

Three main approaches to internet financial reporting are , & with

Static reporting- Use of format of annual report & accounts. It's easier to to wider audience. allows some degree of , making it less

Interactive reporting- menus enable selection of financial information from . Users can their own based on selection

Interactive reporting with data analysis- Simple tasks possible without . It's less to human when doing it . No data necessary at recipients for from different sources

Two major problems in using different methods to publish annual reports online are: data would need to be to format & users of such as government agencies will have managing & data from diverse sources

Possible solution for problems of using different methods to publish annual reports online is to create an between systems so that can be transmitted (however this will be & )

Hypertext Mark-up Language (HTML)- Use tags to determine how appears on (not )

Extensible Mark-up Language (XML)- Use & that can be defined by to make it . It's a language understood by , as is used to data

Benefit of XML is its in storing, & exchanging electronic documents. Also, tags can be so varied other pieces of can be added

Essential features of XBRL include: communications that does not , but , independent of any hardware (& software ) & ensures transmission of financial reporting data with little or no intervention

In XBRL tag names & value arguments are & to dis/aggregate data (). Classification is based on between data items (e.g. assets, liabilities & equity) & in financial reports such as income statement & statement of financial position

Benefits of XBRL include: data quality, of duplicated data, of processing, reporting processes, data handling, reduced costs, reduced burden, , reduced cost, reduced cost of , enhanced , reduced costs & reduced due to data integrity

Inline XBRL (iXBRL)- XBRL with formatting to create document. Therefore, it's able to overcome need to produce both & financial reporting information. Using iXBRL, in principle file is needed to satisfy all of financial reporting data

iXBRL is achieved by ‘’ formatting information from by only linking to file. represents semantics (format, look)

Some regulatory authorities are requiring use of rather than . Most companies prepare & publish annual reports using & & may continue to provide of their annual reports. As more regulators require , companies will most likely publish their financial statements & annual reports as only

Two uses of iXBRL are & non-compatible accounting

(i)XBRL can be used to financial reporting information to any adopting standard ( & ). Basis for data that comes from all kinds of sources (suppliers, customers), no matter their

Global Ledger Taxonomy (GLT) may assist companies with different accounting systems. It provides way for users to communicate any typically found in or actual accounting transactions

Any accounting software with an (contains taxonomy and data) can create an document

SAP (for larger businesses) uses its reporting tool to create XBRL files according to & regulations. Also, SAP allows files by extending standard