Is XBRL used internationally?

Is XBRL used internationally?

XBRL is the open international standard for digital business reporting, managed by a global not for profit consortium, XBRL International. We are committed to improving reporting in the public interest. XBRL is used around the world, in more than 50 countries.

Why do countries adopt XBRL?

In many places exchanges and securities regulators are applying XBRL to enhance their operations and transparency,with the aim to advance their market’s standing in the eyes of investors.

Who has to file XBRL?

Applicability of XBRL Filing for Companies Every public company listed in the Indian stock exchange and their Indian subsidiaries. Every company with a turnover of or more than Rs. 100 crore. Every company with a paid-up capital of or more than Rs.

In which country is the XBRL mandated for filing reports of business financial accounts?

BELGIUM • Since January 2008, XBRL has been mandatory for all filings of annual accounts to the National Bank of Belgium.

How is XBRL used around the world?

Aside from Brazil, XBRL is in use in places such as Peru, where the Superintendencia del Mercado de Valores (SMV) has had mandatory XBRL filing for listed companies since 2012, as well as countries such as Panama, where the Superintendencia de Bancos de Panama also makes use of XBRL data.

What companies use XBRL?

XBRL International is made up of member organizations from around the world….Membership List.

Member Jurisdiction Country
Business Wire XBRL US United States
Cal State Fullerton XBRL US United States
Calcbench XBRL US United States
Capgemini (Netherlands) XBRL Netherlands Netherlands

Is XBRL mandatory for all companies?

Applicability of XBRL filing All public companies listed in the stock exchange in India and their Indian subsidiaries. All companies with a turnover of Rs 100 crores or more. All companies with a paid-up capital of Rs 5 crores or more.

Is XBRL mandatory?

Since June 16, 2011, all US companies (other than investment and business development companies) must follow XBRL reporting requirements.

What is XBRL tagging SEC?

Inline XBRL is a structured data language that allows filers to prepare a single document that is both human-readable and machine-readable, so that filers need only prepare one Inline XBRL document rather than generate an HTML document of their financial statement information or risk/return summary information and then …

What is the XBRL taxonomy?

An XBRL taxonomy is the formal definition of a financial or business reporting vocabulary for a given jurisdiction or reporting domain, imparting meaning to the concepts which describe the facts being reported and providing a framework within which reports are structured.

Is XBRL required of US companies?

FPIs have filed their financial statements in XBRL since their first filing for the fiscal period ended on or after December 15, 2017. Since June 16, 2011, all US companies (other than investment and business development companies) must follow XBRL reporting requirements.

How do companies use XBRL?

Companies using XBRL can extend current taxonomies by defining new tags, or by creating their own taxonomies for their specific purposes. Transparency – XBRL allows for increased transparency of financial information to stakeholders, at a granular level.