Today we will discuss what is XBRL? XBRL (Extensible Business Reporting Language), is a freely available XML-based specification that uses international accepted financial reporting standards and practices to exchange financial statements across all software and technologies, including the Internet. It is an XML-based framework that provides the financial community a standards-based method to prepare, publish in a variety of formats, reliably extract and automatically exchange financial statements of publicly held companies. XBRL is not about establishing new accounting standards but enhancing the usability of the ones that we have through the digital language of business, XML.  XBRL could also be described as a on-line add-on that meta data each section of digital business details with an recognition value or sign. In most cases, sales application will place XBRL meta data instantly. If an sales system does not have XBRL, a user can still add XBRL meta data to economical details using an add-on program or personalized application adding tools.

According to John Elliot, Chairman of the AICPA, XBRL resolves two significant problems for users and preparers of fiscal reports by offering efficient planning and trusted removal of economical data across all technological innovation platforms, such as the Internet. Costs to put into practice XBRL will be little for CPA companies and their customers since it will be built into application technological innovation and managing techniques, enabling improved mobility to prepare and draw out claims according to the sales concepts of different geographies and areas."

XBRL works by taking company enterprise revealing details, applying the framework of the details to XBRL for fiscal reports, and developing any extra meta data needed to provide a full set of fiscal reports. The result of the process is an extra identifier connected to each element of enterprise details that can provide signs at to its beginning, its connection to other details, the guidelines used to make the details and more.

The May 1999 version of the Publication of Accountants taken an post named "The XML Files".(1) The post describes the worldwide benefit using an XML-based mark up terminology, such as XBRL.

"XML is about having one worldwide way to change details, rather than thousands of different ways. XML is both clear and understandable and able of the most innovative data-management projects."

Companies who post enterprise revealing details touch pad in XBRL will be developing a means for speaking their details to a worldwide visitors. This can be done because XBRL is developed to be a requirements that is the same for all organizations and is constant from one economical report to another.

There are many XBRL Training courses available in the market today, using various software which explain the user how to tag different financial information in a financial statement, however if any learner is interested to look for XBRL course he can look for some professional courses to learn XBRL.