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Application of XBRL

XBRL can be applied to a wide range of business and financial data. Among others it can handle

  • Company internal and external financial reporting.
  • Business reporting to all types of regulators, including tax and financial authorities, central banks and governments.
  • Filing of loan reports and applications; credit risk assessments.
  • Exchange of information between government departments or between other institutions, such as central banks.
  • Authorative accounting literature – providing a standard way of describing accounting documents provided by authoritative bodies.
  • A wide range of other financial and statistical data which needs to be stored, exchanged and analyzed.

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