Mark Israel

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eXtensible Business Reporting Language (XBRL) and Web services have evolved somewhat separately from a common core of XML. XBRL has gained support because it simplifies the electronic distribution of financial statements, performance reports, accounting records, and other financial information. Web services hold the promise of automating, in a standardized manner, the exchange of data and functionality between different software applications. When used together, XBRL and Web services have the potential to enable a new class of sophisticated financial applications that were previously difficult or impossible to build. XBRL is an XML-based markup language for financial and business reporting; it provides advantages at each step in the financial reporting supply chain. XBRL focuses entirely on the content of a business report and is completely neutral with respect to t... (more)