Question

What is needed to use XBRL? Mapping names used in the financial reports to the taxonomy...

What is needed to use XBRL?

Mapping names used in the financial reports to the taxonomy

Creation of an Instance document

A taxonomy

All of the above   

Homework Answers

Answer #2

The correct answer is (D) All of the above

XBRL enables preparers to utilize software to tag all financial items in their business reports to the elements within a taxonomy. This is accomplished with an Instance Document which can be electronically exchanged and validated between computers or viewed in a human readable format (this is called rendering).

In case of any queries/clarifications please leave a comment below, if the answer was helpful please leave a thumbs up, thanks!

answered by: anonymous
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Taxonomy is used to identify all biological organisms. Identify one commonly known organism from each of...
Taxonomy is used to identify all biological organisms. Identify one commonly known organism from each of the Kingdoms, and find the seven taxa (level) name for that organism. Hint: use the internet to aid you in this assignment.
What are some of the instances where managerial reports can be used for external financial reporting?
What are some of the instances where managerial reports can be used for external financial reporting?
Why are lipids, but not fatty acids can be used for gluconeogenesis? Use specific names of...
Why are lipids, but not fatty acids can be used for gluconeogenesis? Use specific names of pathways, enzymes, and molecules to support your explanations.
As a small business owner in today’s economy, what three financial reports would you use on...
As a small business owner in today’s economy, what three financial reports would you use on a regular basis? What information would you find on each statement? What decisions might each statement help you make? Please provide specific examples.
What four financial statements are contained in most annual reports? Who are some of the basic...
What four financial statements are contained in most annual reports? Who are some of the basic users of financial statements, and how do they use them? If a “typical” firm reports $20 million of retained earnings on its balance sheet, could its directors declare a $20 million cash dividend without having any qualms about what they were doing? Explain your answer.   Explain the following statement: Although the balance sheet can be thought of as a snap- shot of a firm’s...
What distinguish between managerial and financial accounting as to (a) primary users of reports, (b) types...
What distinguish between managerial and financial accounting as to (a) primary users of reports, (b) types and frequency of reports, and (c) the content and purpose of reports?
What are the names of 3 biosynthetic pathways that use citric acid cycle intermediates?
What are the names of 3 biosynthetic pathways that use citric acid cycle intermediates?
What consequences occur if a nonprofit incorrectly reports their financial information? What can be done to...
What consequences occur if a nonprofit incorrectly reports their financial information? What can be done to correct any reporting errors? .
Sustainable Growth Rate - Company A reports the following information in a recent financial statement ($...
Sustainable Growth Rate - Company A reports the following information in a recent financial statement ($ millions except for Earnings per shares and Dividends per share). Company A Year 1 Year 2 Year 3 Sales $56,741 $68,222 $83,503 Net income 8,684 10,340 12,075 Shareholder equity 62,908 66,760 69,494 Earnings per share 2.79 3.22 3.86 Dividends per share 1.15 1.28 1.45 (a) Use the above information to compute Company A sustainable growth rate for Years 2 and 3? Comment on Company...
What is a limitation of the income​ statement? A. It only reports financial standing as of...
What is a limitation of the income​ statement? A. It only reports financial standing as of a point in time. B. It requires extensive judgement and estimation in order to draw conclusions. C. It does not allow users to judge risk. D. It has no predictive value.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT