iXBRL – How it Really looks and feels
XBRL International has added a new page to its website providing examples of statements coded in iXBRL. They show clearly how it is human readable – in fact looks exactly the same as any other financial statement – and also, how the embedded XBRL component can be shown and used. A few moments on this page will add tremendously to most people’s understanding of iXBRL.
iXBRL is the big thing in terms of smart data for financials. ESMA reently mandated it and it is being used in the UK along with numerous other countries, and is being considered in the US. We can expect that iXBRL will be the main vehicle for presenting financial statements over the next few years. It demonstrates a new level of maturity in the use of XBRL.
For the new page, click here.