Perera, David
March 2006
Government Executive;Mar2006, Vol. 38 Issue 3, p69
Trade Publication
The article focuses on a standardized way of exchanging financial data, which is called Extensible Business Reporting Language (XBRL). XBRL is metadata. It's data that gives context to data. XBRL is an invisible tag virtually hovering behind the numbers in a database. It tells machines in their language what the thing being counted is, why it's important and where the data comes from. XBRL is an open standard managed by a nonprofit consortium, XBRL International in New York. Open standard means that data from one proprietary software program can transfer automatically to another software program. In the banking industry, at least, the brave new world promised by XBRL is apparent.


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