eXtensible Business Reporting Language
eXtensible Business Reporting Language, or XBRL, is a structured language used to tag and exchange business reporting information electronically. Tags and taxonomies help software identify reported concepts and relationships. An auditor using tagged information assesses completeness, accuracy and relevance of the data and any engagement-specific requirements.
Worked example
A company tags its reported revenue using a reporting taxonomy; an analyst or auditor can compare the tagged figure with other information.
Common mistake
A correctly formatted XBRL file does not by itself prove that the underlying figures, tags or financial statements are accurate.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AAA (INT) | Supporting | September 2026–June 2027 |