XBRL in depth

For accountants:

 

 

For issuing companies:

 

For analysts:

 

For information technology:
XBRL is a wholly xml-based language. The line items are elements and attributes and they are given structure by the taxonomy files in the form of XML schema. The taxonomy files are essentially rules describing financial statements:

eg: In South Africa, one reports one’s financial statements to the JSE in IFRS (International Financial Reporting Standard). The Income Statement line item, Finance Costs is referenced in the IFRS handbook that preparers of these statements carry, which notes what makes that number up and where it is referenced.

In XBRL it also has the same name and all the same relationships which are defined in the schema, see image below:
ifrs_financecosts There are many software vendors in the market who create applications along the following lines:

instance document creation
viewers and comparison tools
taxonomy designers 

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