You are serving as a liaison between accounting and IT. Your company is required to use XBRL for external financial reporting. IT would like to use XBRL integrated tagging and has asked for funding for an XBRL database. The accounting department doesn’t see why IT needs funding for another new database.
What are the benefits of XBRL integrated tagging for internal use? Why would IT need a new XBRL database? What would you say at your meeting with accounting and IT?
When is XBRL used?
How does XBRL work?
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