XBRL stands for eXtensible Business Reporting Language. First passed in 2009, XBRL is a global electronic information format designed to transmit and store business information in a machine readable format. XBRL is also referred to as “interactive data” by the U.S. Securities and Exchange Commission (“SEC”). Companies that use XBRL assign unique, electronically readable tags to all individual disclosure items within business reports. These tags are part of taxonomies developed by market constituents and are publicly available and license free. Taxonomies consist of financial concept definitions in which each business concept is defined and assigned a relationship to other concepts.
The idea behind XBRL is simple. Historically business reports treated financial information as blocks of text like a printed document or a web page. Blocks of text cannot be read by computers. But with XBRL, identifying tags provide each individual item of data with electronic content markers.
The SEC now mandates XBRL for all publicly traded companies. XBRL is required to be applied to companies:
- 10K (annual financial statements)
- 10Q (Quarterly financial statements)
- Registration statements
- 8K (filing of important investor information)
- 20F certain foreign private issuers to provide information
- 40F Registrations and Annual Report for Canadian Securities.
This course reviews the basic concepts of XBRL, what it is, why it is required by the SEC and important facts regarding terminology and implementation. The course also introduces the requirements of Inline XBRL and the phase in dates for compliance.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Explore the purpose behind XBRL.
- Identify compliance requirements for XBRL.
- Identify features and benefits of XBRL.
- Explore the definition of XBRL terms.
- Explore how XBRL works.
- Identify who uses XBRL.
- Explore steps and rules to create XBRL.
Last updated/reviewed: March 8, 2024
(73) Reviews
(53 rating)
Very short course and some of the examples were good this course is not as good as other ethics courses I have taken.
I'm an experienced presenter but I still learned a lot from this excellent course.
Informative course, very well organized and presented.
great overview of the control environment, types and pros/cons
Good course. Informative. Well=paced. The instructor kept the course entertaining, while infoI like informative.
Really informative class and good overall presentation
Great information about useful tools. Didn't know there were so many plugins available
Principles of Ethical Team Leadership is an important part of corporate culture. learning the fundamental principles will increase the value of the company and benefit everyone involved
It's hard to distill the entire history of ethical thought down into a 2 hour business course, but I give credit to the instructor for making the effort.
Very interesting course! ..................................................................
As others have pointed out, this course would have benefited from being a bit longer or having a Part 2 that goes through a few practical examples.
Good advice and steps to consider. The slides were nicely laid out to use as references in the future.
Great, simple explanation of how assets and liabilities affect operating cash flows as well as how othe transactions are accounted for in all sections.
Interesting and informative course with relevant information to understand the controllership function. Easy to follow and understand.
Efficient and effective course. Covers what is needed.
Broad ranging look at ethics, morality, and laws. There is enough time in the lecture to cover definitions, the difference between the concepts, a brief discussion of Jonathan Haidt's theories and the Milgram Experiment, and the personal aspect of dealing with conflicts.
Well structured overview of the course by instructor
This is a very good course. It starts with stories to help set the objectives, then provides how to engage including strategies and quick tools to help you get started. Well worth the hour.
Course materials were easy to follow and closely connected with the review questions and final exam.
This is a really good informative course--thanks for putting it together.
Liked the clarity, disliked the dullness of the presentation.
Lots of background/terms info. Would have loved to see XBRL in action more.
Great way to ground myself in the basics and refresh/sharpen my skills.
This course was a bit difficult due to lack of previous knowledge and reading through the course materials instead of instructed lead. Overall, the course was very educational.
Awesome course that will greatly help me when creating presentations.
KPI section could be more informative in measuring how effective your profile is.
Everything about XBRL was explained in simple words. A great tutorial for someone who does not know anything about XBRL
I liked this course as I found that it was very informative and a great refresher on all the many methods and ways in which fraud can occur and be prevented as well.
Your courses have all been so wonderful, so informational, and so thorough--in short, greatly appreciated by me! Thank you for sharing your expertise, your wealth of knowledge, your inclusion of examples! I have greatly enjoyed reading and listening to all of your lectures thus far.
A lot to digest! Terms are essential in understanding concepts.
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Though the material in this course was well thought out and presented, I found it distasteful and unpatriotic to include a former president, not just as an example of an amoral/immoral leader, but also the answer to an exam question. Keep your politics out of my professional learning materials...
Barry Zalma is very dull and boring. He even seems un-interested in the lecture he is giving.
This course was well developed and well presented. Good coverage of the subject.
Good review course. This was a solid refresher for something I have been away from for some time.
Good course on IT general controls and distinction between general controls and application controls
Could be improved if there were more examples - the slides were just read. Maybe required for this type of course, but would be more interesting with case studies.
The voice was not very clear at the beginning but got better toward the end.
Great summary and support detail. Appreciated the quiz questions and various notes in preparation for the final exam at the end.
Recommended for anyone who needs a refresher on auditing or anyone who is about to go through an audit!
Would have been helpful to provide more illustrative examples to illustrate the use of the concepts and definitions and apply the tagging process.
Very good overview. Excellent instructor.
Would help to break down example calcs step by step
I learned a ton in this class. It was thorough and entertaining.
Excellent overview about temporary differences, very useful examples and exercises
Good, clear explanation of control activities with a more in-depth look at each principle and POF. The concepts are easy to understand with great examples provided.
Great review of preparing indirect cash flow statement.
This was a good introductory class for those of us without any XBRL experience.
This was well detailed while providing very efficient timely lessons of the general topic.
Overall great webinar. It would be helpful to reduce the number of abbreviations in the slides though.
good link between history in the US and why ethics has become such a prominent topic
Great overview and detailed account of the information.
One of the best courses I've taken on the new tax law.
I wish instructor took some time to spell out some of conditions in functions he was demonstrating
Very insightful and great suggestions for creating a mutually beneficial relationship between leader and subordinates.
This course provided a good overview of how to account for book-tax differences, as well as how to effectively navigate the Schedule M-1
Learned some very useful tips
This serves as a good introduction to SEC reporting. Probably not useful for people who already have SEC experience, but it is great for anyone new to the subject.
Some more error rectification technique may be included in this course.
Slides very helpful. Information very thorough.
Very informative
Excellent overview!
Clear and concise - great examples provided. A great course for any experienced auditor.
good review material
interesting info
Very helpful. Learned many new techniques for building reports.
The course is so easy to understand.
Concise. Good review
Excellent course
Good refresher on SEC Reporting and structure of reports
Bullet points - not the entire conversation or presentation - Please!!!!
l like learn about this course and subject We will follow full courses for an intense love thank you very much
This is a great synopsis of the IPO process, including the key regulatory considerations and planning elements. I highly recommend this course.
Lesson Questions and Answers0 Questions
INTRODUCTION AND OVERVIEW
XBRL Basics
- XBRL Purposes 10:55
- Compliance 9:28
- Features and Benefits of XBRL 4:56
- Defining Terms 11:21
- Tagging Terms 12:43
- Linkbase 7:08
- How XBRL Works 9:37
- Who Uses XBRL 8:03
CONCLUSION
- Summary 2:47
CONUNOUS PLAY
SUPPORTING MATERIALS
REVIEW & TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
Ask the instructor a question about this lesson