The introduction of XBRL, a structured data format has been the biggest overhaul in the regulatory space in recent times. XBRL stands for ‘eXtensible Business Reporting Language’ and is a globally accepted standard for exchanging business information. In simple terms, XBRL is an electronic information supply chain standard for moving financial and business reporting information into an interactive intelligent information format. You can read more here. Let us demystify XBRL and look deeper into what the standard is and the benefits it offers.
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