For what reasons might a company decide to implement XBRL?
A) The company plans to go public next year.
B) The company would like to compare data from other public companies.
C) The company seeks greater financial consolidation efficiency.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) is beneficial for companies planning to go public, as it standardizes financial reporting for regulatory purposes. It also allows for easier comparison of financial data with other public companies and improves the efficiency of financial consolidation and reporting processes.

For What Reasons Might a Company Decide to Implement XBRL