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What is taxonomy? How to define the taxonomies?

April 26, 2017define taxonomies taxonomy

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What is taxonomy? How to define the taxonomies?

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XBRL is a standards-based way to communicate business and financial information. These communications are defined by metadata set out in taxonomies. Taxonomies capture the definition of individual reporting concepts as well as the relationships between concepts and other semantic meaning. Kindly see relevant section on the website for more on Taxonomy.