What is XBRL good for?
XBRL is not going to solve all of the world’s problems. However, it will save you a considerable amount of time and uncertainty if you are trying to extract information from the electronic reports produced by a business in which you do or might have an interest. It can be of benefit whenever a definition needs to be associated with a fact. More specifically, XBRL requires users to provide a range of attributes along with a specific fact to place that fact in time and to associate it with a specific reporting. These particular pieces of associated information or fact attributes are generally useful when using business reports.
XBRL is not going to solve all of the world’s problems. However, it will save you a considerable amount of time and uncertainty if you are trying to extract information from the electronic reports produced by a business in which you do or might have an interest. It can be of benefit whenever a definition needs to be associated with a fact. More specifically, XBRL requires users to provide a range of attributes along with a specific fact to place that fact in time and to associate it with a specific reporting. These particular pieces of associated information or fact attributes are generally useful when using business reports.
