XBRL(eXtensible Business Reporting Language) is a language used for electronic communication in business reporting. It offers numerous advantages in preparation, analysis and communication of business details. XBRL ensures cost savings, enhances accuracy and reliability to all individuals who are using … Continue reading →

XBRL, also known as eXtensible Business Reporting Language, is an open standard reporting language that was introduced with the intention of improving the quality of financial data reporting. It is a form of extensible markup language (XML) that is used … Continue reading →

The digital age is no longer a futuristic world, nor is it considered to have reached its tipping point. In fact, it is the contrast and its expansion and evolution will indeed continue to gain pace. As a result of … Continue reading →

From 1 July 2018, CIPC (Companies and Intellectual Property Commission) mandated that all qualifying entities in South Africa must submit their Annual Financial Statements (AFS) in iXBRL with their annual returns. Yet, many companies are still unaware of the mandate. … Continue reading →

From 1 January 2020, issuers with listed securities in EU regulated markets will be required to prepare annual financial reports (AFRs) in line with the European Single Electronic Format (ESEF). These changes will impact thousands of companies across the EU … Continue reading →

Data standardization has often been trumped as the gold standard for financial reporting – and justifiably so. Not only can it help ensure greater transparency and comparability between the financial performance and position of companies or local government bodies, but … Continue reading →

On 25 June 2018, the U.S. Securities and Exchange Commission (SEC) published its draft strategic plan for fiscal years 2018 – 2022. Although comments for the draft closed on 25 July 2018, the draft provides ample insight into the SEC’s … Continue reading →

XBRL has been around for a few years now. At the time of its introduction, much attention was given to the possibilities that XBRL reporting could offer – digitization, increased comparability and reliability to name a few. However, it’s equally … Continue reading →

While there has been increased focus on XBRL within the United States over recent months, in part due to the SEC’s recent announcement that iXBRL will be used by operating companies and mutual funds going forward, it’s also worth taking … Continue reading →

Revenue Ireland introduced additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) on 16th December 2016, as a Public Working Drafts (PWD). Interested parties were invited to review the PWDs for the three additional taxonomies and provide … Continue reading →