XBRL（Extensible Business Reporting Language）is a data exchange language between business and finance. It's apperance and development leads the gathering, designing, analysis and interaction of business reports to a high standard. Compare with the old complex working of financial data, it saves a bunch of resources, highly improves the efficiency , accuracy, reliability and timeliness.
XBRL is one type of “XML”，it is becoming a standard business report language on internet. It is a open and free standard. It has been already used in mang countries, and been developed very quickly.
The purpose of XBRL is to represent the previous financial reports based on website or printing documents. It defines a special label whcih can be read directly by computer for each data. For example: there is a special label for company "Internet Benfits".
XBRL can be used to arrange the financial data for corporations to save costs and standardize workflow. If the business reports is in XBRL form, it can be easily searched, compared and analyzed by investors, analysts and financial data users.
XBRL has the ability to deal with data based different language and accounting standard. It also can fit for different demands, choosing proper mirroring tools. Business data can be changed to XBRL form, and it also can be abstracted from the documents though the related sofrware.
Technical advantage 1：Each data has a special label which includes not only data content but also internal information and relationship with other data because XBRL allocates each data a uniform. Then each data can be accurately searchedm, at the same time, users can easily find out the data needed by unified method. It easily realizes the informaton exchange among different software, and analyzes data by analytic software.
Technical advantage 2：XBRL formed data can realizes cross-platformed data exchange, that is depending on XML cross-platformed RW technology which XBRL based on. It is used in different operation system such as Windows，Unix，Linux. As the development of today's internet, XBRL can fully develop the advantages of internet, and make the usage of financial information more efficent.
Technical advantage 3：It displays a perfect developing situation to XBRL, because XBRL is a open standard without any fee, anyone can use and exchange financial information on different sofrware platform for free.
Technical advantage 4：XBRL will not change the present accounting rules. This is another precondition for the developing of XBRL.
Applicated Advantage 1：For the financial reports designers, XBRL technology will reduce the high labor cost caused by the proccess of making reports. It saves a lot of time spent in cleaning, gathering and making reports, and adapts to the changeable financial rules.
Applicated Advantage 2：For the financial reports desgners, on one side, they can save a lot of time spending in searching data from huge of reports, on the other hand, they will have enough time to analyze data. For example, it will take several hours to search a special information, even though, the correct information is still flying. While, after using XBRL, it takes no more than 1 second, the accurate information will be found. Especially, with siutable analytic software, the user can compare different financial reports in both vertical and horizontal direction. The analytic capabilities of analysts are highly imporved.
Totally speaking, the main advantage of XBRL lies in making and analyzing different sides of business reports, especially lies in automation, low costs, qucik speed and so on. XBRL almost perfectly solve all the issues about present financial reports, and it also has its unique advantage. It is said to be a standard for the future financial reports.
Easy to check the original data of reports
XBRL can be a perfect media for web financial reports. To use XBRL as a media when deliver financial reports online, the supervisor can easily to find out the needed information. Auditing can ues its Drill-Down function to find out the factuality of the data source.
Make the continual auditing fesible
To be published on internet by using XBRL, business reports can be well used. The time to produce the reports will be high reduced, and it makes the continual auditing fesible.
To produce pieces of business reports from one XBRL report
Accronding to different demands, financial reports useing XBRL as the carrier will produce different reports from one XBRL document to realize the diversity of financial reoprts and to imporve auditing efficiency.
Easily compare the operating situation of different corporations
Because of the coordinate interface adopted by XBRL, supervision department can easily analyze the reports delivered though software, and compare the reports to find out difference among different corporations at different time.