XBRL stands for eXtensible Business Reporting Language. It is modeled on XML, the eXtensible Markup Language. XBRL is a special language used to report and track information related to business transactions.
How is XBRL used?
XBRL was recently mandated by the SEC to be used by Fortune 500 Companies to conduct reporting of their business statistics. Basically, XBRL allows you to produce, read and process documents related to business performance.
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