How is xbrl different from xml

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Email required Address never made public. Name required. Email Subscription Join 39 other followers. Follow Following. Your data can be made available to all kinds of "reading machines" agents. XML may be used to create other new languages. The future might give us word processors, spreadsheet applications and databases that can read each other's data in a pure text format, without any conversion utilities in between.

This source states that the syntax rules of XML are very simple and very strict. The rules are very easy to learn, and very easy to use. Because of this, creating software that can read and manipulate XML is very easy to do. XML elements must be properly nested. All XML documents must contain a single root element, and all other elements must be nested within the root element. All elements can have sub elements children. Sub elements must be correctly nested within their parent element.

Elements that belong to the same parent are called siblings. There is nothing complicated about XML. XML is a rich language that facilitates the exchange of data between organizations via Web pages. XBRL provides a standards-based method to prepare, publish, reliably extract, and automatically exchange financial statements.

In XBRL, dynamic financial statements can be published and manipulated on websites. Abstract XML eXtensible Markup Language , with wide-ranging applications in business and other applications, is hailed as a revolutionary advance in data transfer and information identification on the Internet. Recommended Citation Deshmukh, A.

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