XBRL File – What is .xbrl file and how to open it?

XBRL File

XBRL, an acronym for eXtensible Business Reporting Language, is a standardized XML-based reporting language specifically designed for the electronic communication of financial and business data. An XBRL file is a text file that contains financial and business data in a structured and tagged format, enabling the automated analysis and exchange of data. These files follow a predefined set of rules and taxonomies, ensuring consistency and comparability across different stakeholders and software systems.

XBRL files facilitate the seamless and efficient sharing of data among various entities, including businesses, regulatory agencies, and investors. They provide a common data format that eliminates the need for manual data entry and conversion, reducing the risk of errors and ensuring the accuracy and reliability of financial reporting. The use of XBRL files has become prevalent in industries such as banking, insurance, and manufacturing, as it enables the timely and cost-effective production of financial statements and other regulatory submissions.

Opening XBRL Files Using XBRL Viewers:

XBRL viewers are specialized software applications designed to open and access XBRL (eXtensible Business Reporting Language) files. These viewers provide a user-friendly interface for navigating and analyzing XBRL data, allowing users to view financial and other business information in a structured and machine-readable format. Some popular XBRL viewers include Arelle, XBRL Cloud Viewer, and OpenXMLEditor. These viewers enable users to view the XBRL instance document, as well as the underlying taxonomy and schema files that define the data structure.

Alternative Methods for Opening XBRL Files:

In addition to dedicated XBRL viewers, there are other methods for opening XBRL files. Some web browsers, such as Google Chrome and Mozilla Firefox, have extensions that allow users to view XBRL files directly. These extensions typically provide basic functionality for viewing the XBRL data, but may not offer the same level of analysis and navigation features as dedicated XBRL viewers. Additionally, some spreadsheet applications, such as Microsoft Excel, can import XBRL data into a tabular format. This allows users to perform basic data analysis and visualization tasks within their preferred spreadsheet environment, although the functionality may be limited compared to using a dedicated XBRL viewer.

XBRL Document (XBRL)

XBRL (Extensible Business Reporting Language) is a markup language designed specifically for electronic business reporting. It uses XML to create documents that contain financial and business information in a standardized, machine-readable format. XBRL documents are commonly used in financial reporting, regulatory compliance, and other business applications where data needs to be shared accurately and efficiently.

The .XBRL file extension denotes an XBRL document. These files are in XML format and follow the XBRL taxonomy, which provides the structure and definitions for data elements. The taxonomy defines the various elements that can be used in an XBRL document, such as assets, liabilities, and equity. By using a standardized taxonomy, XBRL documents can be easily understood and processed by different software applications and systems.

Other Extensions