Q: a. What is XBRL? How is it related to XML
a. What is XBRL? How is it related to XML? b. Define the following terms related to XBRL: specification, taxonomy, instance document. c. How can XBRL benefit organizations? d. Will most accountants ne...
See AnswerQ: Your old friend, Bumble Beasley, just completed his accounting degree
Your old friend, Bumble Beasley, just completed his accounting degree at Dewey, Cheatham and Howe University. Although he studied XBRL in several of his accounting and information systems courses, he’...
See AnswerQ: Point your Web browser to www.xbrl .squarespace.com
Point your Web browser to www.xbrl .squarespace.com. Summarize the information you find there, and evaluate it using the UMUC criteria discussed in Chapter 1.
See AnswerQ: Use the adjusted trial balance from Problem 7 to prepare an income
Use the adjusted trial balance from Problem 7 to prepare an income statement for the quarter ended 30 September 20x4 and a balance sheet as of 30 September 20x4 for GLP Corporation. Data from Problem...
See AnswerQ: The purpose of XBRL is to provide a context for understanding financial
The purpose of XBRL is to provide a context for understanding financial information. Several contextual categories associated with financial information are listed below; for each category listed, giv...
See AnswerQ: Read “Six Steps to XBRL” by Phillips, Bahmanziari,
Read “Six Steps to XBRL” by Phillips, Bahmanziari, and Colvard in the February 2008 issue of Journal of Accountancy. a. Is XBRL relevant to companies that don’t file with the SEC? Justify your respons...
See AnswerQ: Fill in the blanks below with terminology that describes the benefits of
Fill in the blanks below with terminology that describes the benefits of XBRL for organizations and accountants. a. Consolidate results across ___ with much greater speed and reliability. b. Focus eff...
See AnswerQ: Indicate whether each of the following statements is (i) always
Indicate whether each of the following statements is (i) always true, (ii) sometimes true, or (iii) never true. For those that are (ii) sometimes true; explain when the statement is true. a. All neces...
See AnswerQ: You’ll see a problem of this type in every chapter from here
You’ll see a problem of this type in every chapter from here through the end of the text. In these problems, you’ll be considering the relationship between the current chapter’s material (XBRL in this...
See AnswerQ: Consider the following data from BNF Corporation’s statement of cash flows for
Consider the following data from BNF Corporation’s statement of cash flows for the quarter ended 31 March 2014: Cash received from issuance of capital stock ………………………..$ 9,499 Cash received from cust...
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