What are the benefits of using XBRL for defining the framework?
• XBRL is a universal information format which offers opportunities in terms of cost reduction, efficiency gains and data analysis. XBRL also allows disparate information systems to communicate seamlessly with each other over the internet. The benefits are universal, but specific advantages vary between groups – • Investors and Analysts • XBRL allows better distribution and usability of existing information • Speeds up analysis time and makes information retrieval easier • Formatting versatility means information can be tailored to suit specific analysis and reporting requirements • Data Aggregators • XBRL information supply chains are streamlined and efficient • Operating costs associated with data collection and aggregation (i.e.
