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This course has been updated as of Q2 2020 to include new requirements of Inline XBRL.

XBRL stands for eXtensible Business Reporting Language. First passed in 2009, XBRL is a global electronic information format designed to transmit and store business information in a machine readable format. XBRL is also referred to as “interactive data” by the U.S. Securities and Exchange Commission (“SEC”). Companies that use XBRL assign unique, electronically readable tags to all individual disclosure items within business reports. These tags are part of taxonomies developed by market constituents and are publicly available and license free. Taxonomies consist of financial concept definitions in which each business concept is defined and assigned a relationship to other concepts.

The idea behind XBRL is simple. Historically business reports treated financial information as blocks of text like a printed document or a web page. Blocks of text cannot be read by computers. But with XBRL, identifying tags provide each individual item of data with electronic content markers.

The SEC now mandates XBRL for all publicly traded companies. XBRL is required to be applied to companies:
• 10K (annual financial statements)
• 10Q (Quarterly financial statements)
• Registration statements
• 8K (filing of important investor information)
• 20F certain foreign private issuers to provide information
• 40F Registrations and Annual Report for Canadian Securities.

This course reviews the basic concepts of XBRL, what it is, why it is required by the SEC and important facts regarding terminology and implementation. The course also introduces the requirements of Inline XBRL and the phase in dates for compliance.

Learning Objectives

  • Explore the purpose behind XBRL.
  • Identify compliance requirements for XBRL.
  • Identify features and benefits of XBRL.
  • Explore the definition of XBRL terms.
  • Explore how XBRL works.
  • Identify who uses XBRL.
  • Explore steps and rules to create XBRL.
Last updated/reviewed: March 28, 2020

17 Reviews (77 ratings)Reviews

5
Anonymous Author
Being new to XBRL, this course provided a good basic start to the concepts and where to focus my attention to build upon that knowledge. Explained in a very easy to understand manner with excellent examples.
5
Member's Profile
I really enjoyed the teaching style of the instructor. Even though XBRL is such a technical subject, she skillfully and patiently explained each term and concept.
5
Anonymous Author
This course was very informative. The instructor was effective in presenting the course materials. The time allotted for the course was appropriate.
4
Member's Profile
Would have been helpful to provide more illustrative examples to illustrate the use of the concepts and definitions and apply the tagging process.
5
Anonymous Author
Great intro to a subject I know very little about! Definetely recommended if you are considering going from a private company to a public one.
4
Anonymous Author
This provides a good general introduction of XBRL. If provided with more examples with better visual, it would have been perfect.
5
Anonymous Author
I have used XBRL before but this course was a great refresher and the instructor did a great job of making it understandable.
4
Member's Profile
Good overview of the topic but many of the most useful exhibits in the slides were too blurry to read.
1
Anonymous Author
Should use financial statement excerpts and how they would be tagged. Slides were very sparse.
5
Anonymous Author
Great introductions to the topic for those without any experience in the subject.
4
Anonymous Author
This was a good introductory class for those of us without any XBRL experience.
5
Member's Profile
Great overview of XBRL, just the right amount of info to get started.
5
Member's Profile
Great overview and detailed account of the information.
5
Anonymous Author
Good basic overview and helpful glossary.
5
Anonymous Author
A good summary of XBRL
3
Anonymous Author
A lot of information!
5
Anonymous Author
Excellent overview!

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .

1 QuestionCourse Questions and Answers

Member's Profile

Participants - please note the title of this class. It is Basic to assist in understanding the terms and requirements. The course does not go into the process involved with tagging individual line items

Course Syllabus
INTRODUCTION AND OVERVIEW
XBRL Basics
  10:55XBRL Purposes
  9:28Compliance
  4:56Features and Benefits of XBRL
  11:21Defining Terms
  12:43Tagging Terms
  7:08Linkbase
  9:37How XBRL Works
  8:03Who Uses XBRL
CONCLUSION
  2:47Summary
Continuous Play
  1:23:06XBRL (Extensible Business Reporting Language) Introduction to Basics
SUPPORTING MATERIALS
  PDFSlides: XBRL Introduction to Basics
  PDFXBRL Introduction to Basics Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM