Introduction to XBRL - digital business reporting standards

This webinar provides an introduction to the application of XBRL (eXtensible Business Reporting Language).

XBRL was developed by XBRL International in consultations with the global accounting community as the single universal language for business data exchange. XBRL enabled accounting systems can communicate electronically with regulators, government and relevant stakeholders, thereby reducing costs and enhancing data access.

This introductory webinar will cover:

• Overview of the XBRL – how the XBRL standard works and technical considerations
• XBRL fundamental concepts (facts, taxonomies, contexts, element types, labels)
• Creating and validating XBRL document instances - types of common errors, data quality issues and validation
• XBRL versus Inline XBRL
• Discussion of the current use of XBRL for financial reporting to ASIC

A look ahead into the future (XBRL for sustainability reporting, XBRL and LEI)

Learning Outcomes

Upon satisfactory completion of this activity you will be able to:

• Explain what XBRL is, including regulatory and compliance requirements.
• Describe how the XBRL preparation and validation works, common reporting errors and technical considerations.
• Explain what XBRL capabilities may look like in the future.

Benefits

This introductory webinar is aimed at business, accounting, government and regulatory professionals. It provides the key concepts needed to understand the practically apply XBRL in your working life. It provides introductory materials for developers and software professionals. It is a useful way of understanding the business and technology context of the standard.