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How do companies create statements in XBRL?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

How do companies create statements in XBRL?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Data from accounting databases can be extracted in XBRL format. It is not strictly necessary for an accounting software vendor to use XBRL; third party products can achieve the transformation of the data to XBRL. Applications can transform data in particular formats into XBRL. For example, web sites are in operation that can transform filings into XBRL format

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Open uri20170510 32134 59004f?1494421790 answered

XBRL-aware accounting software products are becoming available which will support the export of data in XBRL form. These tools allow users to map charts of accounts and other structures to XBRL tags. Statements can be mapped into XBRL using XBRL software tools designed for this purpose. Data from accounting databases can be extracted in XBRL format. It is not strictly necessary for an accounting software vendor to use XBRL; third party products can achieve the transformation of the data to XBRL. Applications can transform data in particular formats into XBRL. For example, web sites are in operation that can transform filings into XBRL format The route which an individual company may take will depend on its requirements and the accounting software and systems it currently uses, among other factors.

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