From XBRLWiki

Revision as of 17:11, 14 April 2010 (edit) Katrin (Talk | contribs) (→Introduction) ← Previous diff		Revision as of 17:12, 14 April 2010 (edit) Katrin (Talk | contribs) (→efficiency) Next diff →
Line 39:		Line 39:
	<ul>		<ul>
	<li>Eases the possibility of automation by supporting</li>		<li>Eases the possibility of automation by supporting</li>
		+	<ul>
	<li>automated error detection</li>		<li>automated error detection</li>
	<li>versioning</li>		<li>versioning</li>
Line 44:		Line 45:
	<li>Time and cost saving for the reporting entity because of early responses</li>		<li>Time and cost saving for the reporting entity because of early responses</li>
	<li>One common format is more cost-effective than a numerous number of different proprietary formats</li>		<li>One common format is more cost-effective than a numerous number of different proprietary formats</li>
		+	</ul>
	</ul>		</ul>

---

Revision as of 17:12, 14 April 2010

Contribution dated 2009-12-23

ALL TOPICS ARE STILL ON DISCUSSION!

Contents 1 Introduction 1.1 communication 1.2 transparency 1.3 flexibility 1.4 efficiency 1.5 flexibility

Introduction

(To be completed)

communication

• Single, XML-derived reporting standard
• Detailed understanding of data model
• Interoperability with existing XML schemas
• Several languages can be incorporated<

transparency

• Comparability of data across Europe
• Possibility of a faster exchange of information with regard to the financial crisis
• Versioning will be supported
• Open source

flexibility

• XBRL is extensible --> adaptation to national discretions
• Modularised architecture of XBRL
• Structural changes in the data are not reflected in the instance

efficiency

• Reduction of cost and time along the supply chain for financial information
• Eases the possibility of automation by supporting
• automated error detection
• versioning
• Time and cost saving for the reporting entity because of early responses
• One common format is more cost-effective than a numerous number of different proprietary formats

flexibility

• XBRL is extensible --> adaptation to national discretions
• Possibility of a faster exchange of information with regard to the financial crisis
• Versioning will be supported
• Open source