Essentials of XBRL: Financial Reporting in the 21st Century (Essentials Series) Review

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Essentials of XBRL: Financial Reporting in the 21st Century (Essentials Series) ReviewI'll save you the cost of this book by summarizing its content:
1. XBRL is a subset of XML that describes data using a pre-defined taxonomy of data identification tags established by the American Institute of Certified Public Accountants ideal for reporting of financial data.
2. XBRL (with an appropriate translator at each end) can act as a common data transport, aggregator or syndicator between any number of disparate financial systems and databases.
3. Implementing XBRL might be tough because there are competing standards like EDI and ebXML for the transfer of financial reporting data with an installed base of hardware and software that companies might be reluctant to scrap.
4. If XBRL is implemented on a large-enough scale, accountants can stop doing their current jobs and become consultants.
Essentials of XBRL
Disappointing for a Wiley publication
Essentials of XBRL: Financial Reporting in the 21st Century (Essentials Series) OverviewProvides a complete overview of what XBRL is and how companies can use it effectively.
Explains the benefits of XBRL to corporate executives (CEOs, CFOs).
Written in nontechnical language that financial managers can understand.
Provides numerous examples and illustrations.


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