Examples of information that can be represented with XBRL GL include: It’s also possible to speed up and improve the consolidation process by creating mappings between different charts of accounts.īut the potential of XBRL GL isn’t limited to financial data. The generic components and structure of XBRL GL allow for the representation of all the information stored in your company’s ERP, accounting, and operational systems, including master files, setup files, transaction files, reference files, and more. (See “XBRL GL Features” for a summary of the main features of XBRL GL.) This enhances data quality and supports continuous auditing and data monitoring. It also enables the creation of standardized business rules and controls that are applied consistently to data stored across different applications. The combined use of XBRL GL and XBRL FR links the single operational tasks with the end reports and allows users to drill down from the report to the underlying details, avoiding loss of information and supporting a complete audit trail. In other words, XBRL GL provides a way to standardize all the granular information stored in enterprise resource planning (ERP) applications, accounting, and operational software. The other variation, XBRL GL, is a taxonomy used to standardize the information necessary for any internal use, such as control and decision making, and for exchanging information with external stakeholders. In the United States, for example, all Securities & Exchange Commission (SEC) filers have to prepare their financial statements in interactive data format using XBRL. Several national authorities require companies to provide financial statement information in XBRL FR format. The one most people are familiar with is XBRL for Financial Reporting (XBRL FR), which is used to codify the financial information used for external reporting, such as financial statements and regulatory reports. W.There are two complementary variations of XBRL. Association Des Trappeurs De Wemindji - Nation Crieħ9 Beaver Road, Box 300, Wemindji, QC J0M 1L0ģ055 Dundas St. ![]() Wemindji Trappers Association - Cree Nation
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