XBRL provides a global standard logical conceptualization of a financial report and a global standard machine-readable physical syntax. This enables the creation of algorithms for performing many of the tasks and processes that were only able to be performed by humans manually in the past.
Cheers, Charlie On Monday, May 4, 2020 at 2:07:46 PM UTC-7, Charles Hoffman wrote: > > Question for this group. Are you aware of XBRL? Is there anyone > interested in investigating adding the capability to map XBRL concepts to > the Ledger chart of accounts. This would enable the ability to enter a > transaction and then the transaction could "flow" all the way through to an > XBRL-based financial report. Further, if one additional code was added to > the general journal, you could also automate the process of creating a > correct cash flow statement. > > There are lots and lots of other possibilities such as turning Ledger into > an expert system for accounting and reporting. > > For a plethora of information about XBRL, please see my blog: > > http://xbrl.squarespace.com/ > > Fundamentally, if you got the right metadata, which properly created XBRL > taxonomies can provide, there is a boatload of tasks that can be automated: > accounting, reporting, auditing, and analysis. > > For more information, please see: > > http://xbrl.squarespace.com/journal/2020/4/1/record-to-report-plus.html > > > http://xbrl.squarespace.com/journal/2020/2/21/digital-financial-reporting-the-big-picture-in-pictures.html > > > http://xbrl.squarespace.com/journal/2020/2/20/trends-in-financial-reporting.html > > Cheers, > > Charlie > https://www.linkedin.com/in/charleshoffmancpa/ > -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/ledger-cli/52b43591-9a1e-4a4f-8253-03c5dbdd0f85%40googlegroups.com.
