What is the history of XBRL?
XBRL, or eXtensible Business Reporting Language, was developed in the late 1990s to improve the way financial data is communicated.
Who created XBRL and why?
XBRL was created by a consortium of organizations, including the AICPA, to enhance the transparency and efficiency of financial reporting.
How has XBRL evolved over the years?
XBRL has evolved with advancements in technology, leading to wider adoption by regulatory bodies and companies for better data interoperability.
What are the benefits of using XBRL?
The benefits include improved accuracy, faster reporting, and easier data analysis, making it a valuable tool for stakeholders.
Are there any challenges associated with XBRL?
Yes, challenges include the complexity of implementation and the need for training to ensure proper usage among users.
Get this answer and more from ChatGPT in Telegram, try it for free!
Get Started For FreePowered by advanced language models trained on billions of online words and conversations, MagicBuddy delivers friendly and helpful chat on demand.
Ask questions and get answers. Crack jokes and get laughs. Or even get writing ideas and study help. MagicBuddy's conversational intelligence allows for a truly unique and useful chat experience.
Curious? Try these prompts:
MagicBuddy is incredibly easy to use and the responses are lightning fast! 🥇
Impressive! MagicBuddy is my go-to AI assistant. It’s quick, accurate, and user-friendly.
Sending voice messages makes it easier to use in the middle of the day and the answers are super fast.
Love it! A friend of mine told me about it and it has made my life so much easier. It’s like having a helpful friend in my pocket!
I use 2 months already, simply amazing! MagicBuddy delivers answers in a snap. It’s a must-have tool for staying informed!
Game-changer! MagicBuddy’s speed and accuracy are unmatched. It’s my secret weapon for productivity
Say Hello to Your New Telegram BFF - Try MagicBuddy Free!
Get Started For Free