The development of XBRL (eXtensible Business Reporting Language) for financial reporting has significantly changed the way which financial statements are presented to different
users and implicitly the quantity and quality of information provided through such a modern format. Following a standard structure, but adaptable to the regulations from different countries
or regions of the world, we can communicate and process financial accounting information more efficient and effective. This paper tries to clarify the manner of preparation and presentation of
the financial statements if using XBRL as reporting tool.
Keywords: XML, XBRL, financial reporting, specification, taxonomy, instance