XBRL can be applied to a very wide range of business and financial data. Among other things, 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.
· Authoritative 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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