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Extensible Business Reporting Language (XBRL)
The eXtensible Business Reporting Language (XBRL) is a free global standard for managing and exchanging financial information. It replaces text-based reporting by letting businesses access, compare, and review information in a computer-readable format. XBRL tags each dataset, making it easier to search for and find relevant information. Many organizations display financial statements in the XBRL format.
What Small and Midsize Businesses Need to Know About Extensible Business Reporting Language (XBRL)
XBRL allows SMBs to share financial information internally or externally by using a standardized format that increases transparency, accountability, and access to information. XBRL tags also make it easier for SMBs to handle large financial data sets and reduce human error when searching for and checking information.
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