{"id":1710,"date":"2020-04-03T17:34:04","date_gmt":"2020-04-03T17:34:04","guid":{"rendered":"https:\/\/prathamconsult.com\/my\/?page_id=1710"},"modified":"2025-04-18T10:20:02","modified_gmt":"2025-04-18T10:20:02","slug":"what-is-xbrl","status":"publish","type":"page","link":"https:\/\/prathamconsult.com\/my\/what-is-xbrl\/","title":{"rendered":"What is XBRL?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1710\" class=\"elementor elementor-1710\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6efa445e elementor-section-height-min-height elementor-section-content-middle elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"6efa445e\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;stretch_section&quot;:&quot;section-stretched&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c0f99c4\" data-id=\"2c0f99c4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26eec28a elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"26eec28a\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is MBRS (XBRL)?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-982e97a elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"982e97a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-202e3ac\" data-id=\"202e3ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7995e3f elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"7995e3f\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Related Topics<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33b9581 elementor-widget elementor-widget-text-editor\" data-id=\"33b9581\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>You may also need to know these:<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f50d02e elementor-widget elementor-widget-eael-creative-button\" data-id=\"f50d02e\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/introduction\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Introduction<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50a4b51 elementor-widget elementor-widget-eael-creative-button\" data-id=\"50a4b51\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/what-is-xbrl\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">What is XBRL?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e78ecc elementor-widget elementor-widget-eael-creative-button\" data-id=\"1e78ecc\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/why-xbrl-is-required\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Why XBRL is required?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1408444 elementor-widget elementor-widget-eael-creative-button\" data-id=\"1408444\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/who-need-to-file-in-xbrl\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Who need to file in XBRL?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18a4c24 elementor-widget elementor-widget-eael-creative-button\" data-id=\"18a4c24\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/what-is-required-to-be-filed\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">What is required to be filed?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1fdeacd elementor-widget elementor-widget-eael-creative-button\" data-id=\"1fdeacd\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/when-you-need-to-file\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">When you need to file?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0cc726 elementor-widget elementor-widget-eael-creative-button\" data-id=\"a0cc726\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/how-to-prepare-and-or-file\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">How to prepare and\/or file?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-311f58a elementor-widget elementor-widget-eael-creative-button\" data-id=\"311f58a\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/what-if-there-is-delay-or-non-filing\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">What if delay or non-filing?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5e2faa elementor-widget elementor-widget-eael-creative-button\" data-id=\"a5e2faa\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/xbrl-services\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">Our XBRL Services<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08291bc elementor-widget elementor-widget-eael-creative-button\" data-id=\"08291bc\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/how-it-works\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">How it Works?<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20570f8 elementor-widget elementor-widget-eael-creative-button\" data-id=\"20570f8\" data-element_type=\"widget\" data-widget_type=\"eael-creative-button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t        <div class=\"eael-creative-button-wrapper\">\n\n            <a class=\"eael-creative-button eael-creative-button--ujarak\" href=\"https:\/\/prathamconsult.com\/my\/pricing\/\" data-text=\"\">\n\n\t    \n                <div class=\"creative-button-inner\">\n\n                    \n                    <span class=\"cretive-button-text\">XBRL Pricing<\/span>\n\n                                    <\/div>\n\t                        <\/a>\n        <\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6405b43 elementor-widget elementor-widget-text-editor\" data-id=\"6405b43\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<h4><span style=\"color: #000000;\">Request a call back<\/span><\/h4><p>Have any questions, submit this form.<\/p><p>\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f1494-o1\" lang=\"en-US\" dir=\"ltr\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/my\/wp-json\/wp\/v2\/pages\/1710#wpcf7-f1494-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<div style=\"display: none;\">\n<input type=\"hidden\" name=\"_wpcf7\" value=\"1494\" \/>\n<input type=\"hidden\" name=\"_wpcf7_version\" value=\"5.7.4\" \/>\n<input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/>\n<input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f1494-o1\" \/>\n<input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/>\n<input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/>\n<\/div>\n<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Name *\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n<\/p>\n<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-email wpcf7-validates-as-required wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email *\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n<\/p>\n<p><span class=\"wpcf7-form-control-wrap\" data-name=\"phonetext-906\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text wpcf7-phonetext wpcf7-validates-as-required wpcf7-validates-as-phonetext\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Mobile *\" value=\"\" type=\"text\" name=\"phonetext-906\" \/><input type=\"hidden\" name=\"phonetext-906-country-code\" class=\"wpcf7-phonetext-country-code\" \/><\/span><br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"Message\"><input size=\"40\" class=\"wpcf7-form-control wpcf7-text\" aria-invalid=\"false\" placeholder=\"Message\" value=\"\" type=\"text\" name=\"Message\" \/><\/span>\n<\/p>\n<p><input class=\"wpcf7-form-control has-spinner wpcf7-submit\" type=\"submit\" value=\"SUBMIT\" \/>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-515771f elementor-widget elementor-widget-text-editor\" data-id=\"515771f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<h4 style=\"text-align: left;\"><span style=\"color: #000000;\">Contact<\/span><\/h4>\n<p style=\"text-align: left;\"><i class=\"fa fa-phone\" style=\"font-size: 14px; color: blue;\"><\/i> \u00a0 <a href=\"tel:+919724551800\">+919724551800<\/a><\/p>\n<p style=\"text-align: left;\"><i class=\"fa fa-envelope\" style=\"font-size: 14px; color: blue;\"><\/i> \u00a0 <a href=\"mailto:info@prathamconsult.com\">info@prathamconsult.com<\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-74eab58\" data-id=\"74eab58\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-af00d31 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"af00d31\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">All you need to know about \u2013 i.e. XBRL, iXBRL, MBRS, Taxonomy, Tag, Instance Document, Validation etc.<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf2a90c elementor-widget elementor-widget-text-editor\" data-id=\"bf2a90c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><span style=\"color: #000000;\"><strong>XBRL:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">XBRL (eXtensible Business Reporting Language)\u00a0is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does not change what is being reported. It only changes how it is reported.<\/span><\/p><p><span style=\"color: #000000;\">XBRL\u00a0is a world-wide standard, developed by an international, non-profit-making consortium, XBRL International Inc. (XII). XII is made up of many hundred members, including government agencies, accounting firms, software companies, large and small corporations, academics and business reporting experts. XII has agreed the basic specifications which define how XBRL works.<\/span><\/p><p><span style=\"color: #000000;\"><strong>iXBRL:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">iXBRL, or Inline XBRL, is an open standard that enables a single document to provide both human-readable and structured, machine-readable data. An XBRL report provides only the tagged data, while an iXBRL report is a human-readable report with tagged data embedded in it. The tagged data in an iXBRL report can be extracted and converted into an XBRL report by an iXBRL processor. At a technical level, an XBRL report is an XML document that can only be read with XBRL software. An iXBRL report is an HTML document that can be viewed directly in a web browser, as well as using XBRL software.<\/span><\/p><p><span style=\"color: #000000;\"><strong>MBRS:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">The Malaysian regulators have seen the need for the companies to adopt eXtensible Business Reporting Language (XBRL) to improve financial reporting in terms of relevance, consistency, timeliness, and accuracy.<\/span><\/p><p><span style=\"color: #000000;\">On 27 September 2018, Suruhanjaya Syarikat Malaysia (SSM) launched Malaysian Business Reporting System (\u201cMBRS\u201d), a digital submission platform based on XBRL. MBRS allows for the digital submission of:<\/span><br \/><span style=\"color: #000000;\">\u2022 Financial Statements ( FS).<\/span><br \/><span style=\"color: #000000;\">\u2022 Annual Returns (AR).<\/span><br \/><span style=\"color: #000000;\">\u2022 Exemption Applications (EA) which relate to FS and AR applications.<\/span><\/p><p><span style=\"color: #000000;\">SSM has developed mTool, an Excel-based preparation tool that allows companies to generate and validate XBRL based submission of Financial Statement, Annual Return and Exemption Application. The mPortal data filings will undergo validation check and protected by digital signature.<\/span><\/p><p><span style=\"color: #000000;\">The salient components integral to all MBRS filings pertaining to Financial Statements and Key Financial Indicators are:<\/span><\/p><ul><li><span style=\"color: #000000;\">MBRS Preparation Tool (\u201cmTool\u201d);<\/span><\/li><li><span style=\"color: #000000;\">XBRL File which is the output generated by the mTool;<\/span><\/li><li><span style=\"color: #000000;\">SSM Taxonomy (SSMxT), which is a dictionary of element labels and its properties that are embedded within the mTool; and<\/span><\/li><li><span style=\"color: #000000;\">MBRS Portal (mPortal).<\/span><\/li><\/ul><p><span style=\"color: #000000;\"><strong>XBRL tags:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">In XBRL, information is not treated as a static block of text or set of numbers.<\/span><\/p><p><span style=\"color: #000000;\">Instead, information is broken down into unique items of data (eg total liabilities = 100). These data items are then assigned mark-up tags that make them computer-readable. For example, the tag &lt;Liabilities&gt;100&lt;\/Liabilities&gt; enables a computer to understand that the item is liabilities, and it has a value of 100.<\/span><\/p><p><span style=\"color: #000000;\">Computers can treat information that has been tagged using XBRL \u2018intelligently\u2019; they can recognize, process, store, exchange and analyse it automatically using software.<\/span><\/p><p><span style=\"color: #000000;\">Because XBRL tags are formed in a universally-accepted way, they can be read and processed by any computer that has XBRL software. XBRL tags are defined and organized using categorization schemes called taxonomies.<\/span><\/p><p><span style=\"color: #000000;\"><strong>XBRL taxonomies<\/strong><\/span><\/p><p><span style=\"color: #000000;\">Taxonomies\u00a0are the reporting-area specific hierarchical dictionaries used by the XBRL community. They define the specific tags that are used for individual items of data (such as \u201cnet profit\u201d), their attributes and their interrelationships. Different taxonomies will be required for different business reporting purposes. Different countries use different accounting standards. Reporting under each standard reflects differing definitions. The XBRL language uses different dictionaries, known as \u2018taxonomies\u2019, to define the specific tags used for each standard. Different dictionaries may be defined for different purposes and types of reporting. Taxonomies are the computer-readable \u2018dictionaries\u2019 of XBRL. Taxonomies provide definitions for XBRL tags, they provide information about the tags, and they organize the tags so that they have a meaningful structure.<\/span><\/p><p><span style=\"color: #000000;\">As a result, taxonomies enable computers with XBRL software to:<\/span><\/p><ul><li><span style=\"color: #000000;\">understand what the tag is (e.g. whether it is a monetary item, a percentage or text);<\/span><\/li><li><span style=\"color: #000000;\">what characteristics the tag has (e.g. if it has a negative value);<\/span><\/li><li><span style=\"color: #000000;\">its relationship to other items (e.g. if it is part of a calculation).<\/span><\/li><\/ul><p><span style=\"color: #000000;\">This additional information is called meta-data. When information that has been tagged with XBRL is transmitted, the meta-data contained within the tags is also transmitted.<\/span><\/p><p><span style=\"color: #000000;\">Taxonomies differ according to reporting purposes, the type of information being reported and reporting presentation requirements. Consequently, a company may use one taxonomy when reporting to a stock exchange, but use a different taxonomy when reporting to a securities regulator. Taxonomies are available for most of the major national accounting standards around the world.<\/span><\/p><p><span style=\"color: #000000;\"><strong>Instance Document:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">An XBRL\u00a0Instance document\u00a0is a business report, such as a financial statement prepared to the XBRL specification. The meaning of the values in the instance document is explained by the taxonomy. The instance document is an XML file where everything comes together; here the entity specific data links (tags) to the elements in the taxonomies to form the XBRL document that can be validated and transmitted automatically for utilization by numerous consumers. An instance document is somewhat useless unless you know the taxonomy to which it is prepared.<\/span><\/p><p><span style=\"color: #000000;\"><strong>Validation:<\/strong><\/span><\/p><p><span style=\"color: #000000;\">The core XBRL specifications define validation constraints which XBRL processors must impose on all XBRL reports. These enforce not only basic syntactical checks, but also ensure that the reports comply with the definitions in the taxonomy. Validation Tool is an important requirement for improving the quality of financial information\/disclosures in XBRL. Successful validation of the instance document is a pre-requisite before filing the report with reporting authority.<\/span><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>What is MBRS (XBRL)? Related Topics You may also need to know these: Introduction What is XBRL? 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