What is XBRL?

Description:Extensible Business Reporting Language, formerly code-named Financial Reporting Markup Language, is a freely available electronic language for financial reporting. It is based on the industry standard Extensible Markup Language (XML). The XBRL framework provides the financial community with a standards-based method to prepare, publish in a variety of formats, reliably extract and automatically exchange financial statements and the information they contain. XBRL is not about establishing new accounting standards but enhancing the usability of the current ones in an electronic commerce environment.