Question: How do electronic reporting standards such as XBRL work? What are its uses? What are its benefits and limitations? How do technological advances affect business

  • How do electronic reporting standards such as XBRL work?
  • What are its uses?
  • What are its benefits and limitations?
  • How do technological advances affect business reporting?
  • How would XBRL or similar technological advances be expanded to include a more generalized reporting of business information, and not just reporting of financial statement information?
  • Imagine that a company was developing a new reporting standard, and you were a member of a focus group. What features would you tell them to include in this new standard?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

You are designing a Rankine heat engine which must produce 10,000 kJ/min of NET shaft work. The heat source is at T = 200C and the low-temperature reservoir at T= 25C. The turbine efficiency is 75%,...

Q:

How do electronic reporting standards such as XBRL work? What are its uses? What are its benefits and limitations? How do technological advances affect business reporting? How would XBRL or similar...

Q:

For Question 1 read the questions then answer them first using IASB Concepctual Framework 2010 then answer them a second time using FASB?s Conceptual Framework statement. (QUESTION 1 HAS TO BE...

Q:

Hi this is the last multiple choice exam I have and this one only covers 3 chapters so I think it might be shorter Core Concepts of Accounting Information Systems, Canadian Edition Chapter 13-1...

Q:

Evaluation and Control in Strategic Management Evaluation and control information consists of performance data and activity reports (gathered in Step 3 in Figure 11-1). If undesired performance...

Q:

This is the topic of Accounting Information System. I need imfortant MCQ, True False, Matching, regarding this chapter. Prepared by Paula Funkhouser University of Nevada, Reno Core Concepts of...

Q:

Hi, Please calculate: Interest Cover EPS (Earnings Per Share) For Toyota Motor corporation Japan from the attached Financial statement for year 2019. Kindly also explain so that I can understand how...

Q:

Research Paper: Topic: Why did the traditional financial risk approaches, methods, and tools fail in the financial market meltdown of 2008 - 2009? Discuss questions DQ #1: How has fair value...

Q:

Hi, Please calculate: PE Ratio Dividend Yield For Toyota Motor corporation Japan from the attached Financial statement for year 2019. Kindly also explain so that I can understand how formulas and...

Q:

Hi, Please calculate "Dividend Yield" for Toyota Motor Corporation for Year 2018 and 2019 from the attached report. Also explain from where we get the figures or how to calculate them like: DPS and...

Q:

Hi, Please calculate the PE Ratio of Toyota Motor Corporation for Year 2018 and 2019 from attached report. 9/24/2019 Annual Report 20-F 1 d702309d20f.htm ANNUAL REPORT Table of Contents As filed with...

Q:

On the AICPA Web site (www.aicpa.org), find Students and CPA Candidates.What is included under The CPA Exam?

Q:

Measuring Very Long Half-Lives some radioisotopes such as samarium (149Sm) and gadolinium (152Gd) have half lives that are much longer than the age of the universe, so we can't measure their...

Q:

Net Working Capital (NWC) vs Net Operating Working Capital (NOWC): NOWC excludes cash that is being held for the other purposes and also treats interest-bearing liabilities as a financing cost,...

Q:

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....