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Describe one of the benefits of xbrl

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Question: WEEK 5: XBRL AND EDGAR

For each question you should answers in 5 to 6 sentences.

1) Describe one of the benefits of XBRL. Can you also name a disadvantage to the use of XBRL?

2) This week we are working with TCO - 5. Given today's global environment and proliferation of computers as a tool for financial analysis, examine the history and importance of XBRL to both the accounting profession and corporations.

Does XBRL set new accounting standards? Does it change U.S. GAAP or IFRS?

WEEK 5: XBRL MECHANICS

3) Go to the XBRL data for your favorite public company using the instructions in the lecture. Tell us the name of the company and what is on their "Document and Entity Information" page? Choose a different company than your classmates!

4) This week we are working with TCO - 5. Given today's global environment and proliferation of computers as a tool for financial analysis, examine the history and importance of XBRL to both the accounting profession and corporations.

Class, what is EDGAR XBRL Validation Errors and Warnings?

Reference no: EM131840062

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