Puja Agarwal
asked almost 3 years ago
Who can benefit from using XBRL? What is the future of XBRL?
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acharya
answered over 2 years ago
All types of organisations can make use of XBRL to automate their process of data collection and distribution to various stakeholders. It helps in saving costs and improving the efficiency in managing business information – financial or cost. XBRL, being extensible and flexible, can be adapted to a wide variety of requirements. All stakeholders whether they are preparers, transmitters or users of business data in the financial information supply chain can benefit from the use of XBRL.
