Question: QUESTION 2 A. XBRL, or extensible Business Reporting Language, is a software standard that was developed to streamline the communication of financial data, making it

QUESTION 2 A. XBRL, or extensible Business

QUESTION 2 A. XBRL, or extensible Business Reporting Language, is a software standard that was developed to streamline the communication of financial data, making it easier to compile and share among users. XBRL is new to the Malaysian economy, so the benefits will continue to evolve in the coming years. The development of XBRL in many countries has had an impact on a variety of areas, including business reporting quality, continuous auditing, and decision making. a. Discuss how XBRL affects financial information reporting from the perspective of TWO (2) different types of stakeholders. (6 marks) b. Explain THREE (3) challenges to XBRL adoption in Malaysia. (9 marks) B. Shoemaker Sdn Bhd has implemented an advanced Inventory Tracking System that incorporates the most recent RFID (Radio Frequency Identification) technology. Its goal is to cater the tremendous growth of the business operation, and it has been in use for nearly 6 months. As a member of the project development team, you are in charge of system maintenance and upgrading tasks. a. You are required to prepare the Post Implementation Review Report to the management of Shoemaker Sdn Bhd. Discuss on the THREE (3) key components that should be included in the report. (Your explanation should be in the context of the above case) (6 marks) b. According to management, the project is finished once the Post Implementation Review eport is submitted. Justify to management why the "go live" of the Inventory Tracking System does not signify the completion the Inventory Tracking System project. (4 marks) (Total: 25 marks)

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