5. XBRL touts as its primary advantage that it increases efficiency for the firm

Question

5. XBRL touts as its primary advantage that it increases efficiency for the firm and those interested
in its business reports.
Required:
a. How is XBRL more efficient for the firm that reports its business performance? Does
the use XBRL GL in a firm’s accounting software make XBRL more or less efficient
than when XBRL GL is not used?
b. How is XBRL more efficient for those using its business reports for regulator, investing,
or other purposes?
c. Are there any cases when it is less efficient to use XBRL?

Explanation / Answer

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https://financeaccountsonlinetutoring-xbrlefficiency.googledrives/

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