Taxonomies
What is an XBRL taxonomy? XBRL taxonomies are dictionaries for reporting. They provide digital definitions for business concepts and make digital reporting possible. Digital reports work by ‘tagging’ each reported fact so that it can be identified by computer software. For example, the tag “ProfitLoss” might be used for net earnings, and “EnergyConsumed” could indicate […]
Validation
What is validation? Validation is the process of carrying out automated data quality checks on XBRL reports – ‘validating’ the data against testable rules that it should follow, and enabling potential errors to be detected and fixed. Validation is an intrinsic part of XBRL, and is essential to ensuring high data quality and consistency in […]
