What are the main challenges in implementing XBRL?
An example of an AI chatbot conversation about XBRL implementation challenges.
What are the main challenges in implementing XBRL?
The main challenges in implementing XBRL include data quality issues, lack of standardization, and training requirements.
Can you elaborate on data quality issues?
Sure! Data quality issues often arise from inconsistent data formats and inaccuracies in financial reporting.
How does lack of standardization affect XBRL implementation?
Lack of standardization can lead to difficulties in data exchange and interoperability between different systems.
What kind of training is required for effective XBRL implementation?
Training typically includes understanding XBRL taxonomy, data tagging, and using XBRL software tools.
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