What are iXBRL and XBRL?
XBRL (eXtensible Business Reporting Language) is a standard for tagging each figure and disclosure in financial statements with a code from a taxonomy, so software can read the data. Inline XBRL, or iXBRL, embeds those tags inside a normal human-readable web document. Regulators and tax authorities in the US, UK and EU require it for many filings.
Also calledInline XBRLXBRL taggingESEFdigital financial reporting
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- XBRL
- Tags each figure with a taxonomy code
- iXBRL
- Tags inside a readable document
- EU listed issuers
- ESEF since 2020 year ends
How iXBRL and XBRL work
Each number in the accounts, such as revenue or cash, is tagged with an element from a taxonomy, for example the US GAAP, IFRS or UK FRS taxonomies, along with its period, currency and other context. Inline XBRL puts the tags into an XHTML document that looks like the printed report, so one file serves both people and machines. The SEC requires Inline XBRL for financial statements in periodic reports. In the EU, listed issuers have filed annual reports in the European Single Electronic Format (ESEF), using iXBRL for IFRS consolidated statements, for financial years beginning on or after 1 January 2020. In the UK, company tax returns sent online to HM Revenue and Customs include accounts and computations in iXBRL. Workiva tags SEC and ESEF filings, Silverfin tags UK statutory accounts automatically, and Caseware produces iXBRL in its financial statements software.
Common questions
What is the difference between XBRL and iXBRL?+
XBRL is a data file that people cannot easily read. iXBRL embeds the same tags in an XHTML document that displays like the normal report, so one file is both readable and machine-readable.
Who has to file in iXBRL?+
US public companies for SEC financial statements, EU listed issuers under ESEF, UK companies for accounts and computations sent with online company tax returns, and filers in several other countries.
What is a taxonomy in XBRL?+
The dictionary of elements used for tagging, such as the US GAAP, IFRS or UK FRS taxonomies, each defining items like revenue or trade receivables and how they relate.
iXBRL tagging software
Part of Accountio’s accounting technology coverage · Glossary
