XBRL (eXtensible Business Reporting Language)

XBRL (eXtensible Business Reporting Language) is a digital format used to standardize and share financial and business information electronically. It allows companies, regulators, and analysts to create, exchange, and analyze data such as financial statements efficiently and accurately. Using tags to identify different data points, XBRL makes financial reports machine-readable, reducing errors and simplifying regulatory compliance. Think of it as a universal language for business data that ensures clarity, consistency, and easy access across systems and organizations.