Extensible Business Reporting Language

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What Does Extensible Business Reporting Language Mean?

Extensible business reporting language (XBRL) is an open and free programming language providing an international platform for exchanging business transactions and processing data.

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Being market-driven, XBRL functions and resources are designed to suit developing market and business needs. They also allow information modeling for the expression of all terms or semantics used for business reporting. XBRL is XML-based and uses related technology, such as XML Schema and Namespaces, to clarify semantic meanings.

Techopedia Explains Extensible Business Reporting Language

XBRL is used to define and facilitate the exchange of sensitive and confidential financial information such as financial statements. XBRL International develops and publishes free XBRL specifications.

XBRL is based on standards connecting business terminals and allowing for the exchange of business information. The XBRL structure metadata setout defines the business communication process in detail. Metadata interprets every business report definition and relationship. Every XBRL instance contains information exchanged between two or more terminals running business-related applications.

Pioneer XBRL developers dealt with many regulations mandated by the U.S. Federal Deposit Insurance Corporation (FDIC) and the Committee of European Banking Supervisors (CEBS).

Since then stock exchanges, securities, bank regulators, business registrars, revenue reporters, national statistical agencies and tax-filing firms have used XBRL. And business functions of these applications are common between many countries.

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Margaret Rouse
Technology Expert
Margaret Rouse
Technology Expert

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.