Deck 9: XBRL: Intelligent Business Reporting
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Deck 9: XBRL: Intelligent Business Reporting
1
You can think of the XBRL tags as foreign keys for data contained in financial reports.
False
2
XBRL tags enable computers to process data intelligently by storing, updating, searching, analyzing, transmitting, and communicating with greater speed, standardization, and capabilities.
True
3
The use of ________ for Web sites permits enterprises to enter data once in their databases and have the update ripple through to the Web site.
XML or eXtensible Markup Language
4
Which programming language is used for financial reporting around the globe?
A)XBRL
B)XML
C)HTML
D)STML
A)XBRL
B)XML
C)HTML
D)STML
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5
Which programming language provides the capability of metadata?
A)STML
B)XML
C)HTML
D)XBRL
A)STML
B)XML
C)HTML
D)XBRL
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6
XBRL has the ability to tag both numerical and nonnumerical data.
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7
XBRL provides the capability to have a ________ for each amount or fact appearing in a financial report.
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8
XML is a programming language also used for Web site development that is static.
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9
XBRL tags are similar to
A)Composite keys
B)Foreign keys
C)Primary keys
D)A and B
A)Composite keys
B)Foreign keys
C)Primary keys
D)A and B
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10
XBRL is a programming language that is an extension of
A)HTML
B)STML
C)XML
D)XTML
A)HTML
B)STML
C)XML
D)XTML
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11
________ is a programming language used to develop Web pages.
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12
XBRL provides customization that prohibits data from being shared across different applications and IT platforms.
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13
You can think of the XBRL tags as ________ keys for data contained in financial reports.
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14
Credit rating agencies must use XBRL for reporting all ratings beginning in August 2009.
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15
XBRL is a programming language that includes ________, data about data.
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16
What was XBRL developed to standardize and streamline?
A)Data analysis
B)Financial and business reports
C)Business intelligence
D)Decision making
A)Data analysis
B)Financial and business reports
C)Business intelligence
D)Decision making
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17
XBRL is a programming language that is an extension of eXtensible Markup Language (XML).
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18
XBRL provides the capability to have a ________ for each amount or fact appearing in a financial report.
A)Unique identifier
B)Qualitative factor
C)Foreign key
D)Reference identifier
A)Unique identifier
B)Qualitative factor
C)Foreign key
D)Reference identifier
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19
What is metadata?
A)Data about financial reports
B)Data about business intelligence
C)Data about the database
D)Data about data
A)Data about financial reports
B)Data about business intelligence
C)Data about the database
D)Data about data
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20
All publicly traded companies are required to use XBRL for SEC filings by June 2011.
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21
XBRL has the ability to tag
A)Quantitative and qualitative data
B)Numerical and nonnumerical data
C)Spreadsheets and Adobe PDF files
D)A and B
A)Quantitative and qualitative data
B)Numerical and nonnumerical data
C)Spreadsheets and Adobe PDF files
D)A and B
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22
The use of XBRL for financial reporting permits the SEC to review a fewer number of filings in detail.
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23
In XBRL integrated tagging, data for reports is retrieved from the database, reports are prepared, and electronic tags are added to create XBRL reports.
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24
The US SEC started mandating XBRL filings for selected companies in
A)2009
B)2005
C)2010
D)2007
A)2009
B)2005
C)2010
D)2007
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25
Which country's banking industry was the first in Europe to adopt XBRL?
A)Germany
B)Spain
C)France
D)Ireland
A)Germany
B)Spain
C)France
D)Ireland
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26
You are a staff account at a publicly traded manufacturing company. During a meeting your boss indicates upper management wants to know they should consider implementing XBRL. Prepare a report indicating who uses XBRL and the benefits.
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27
List 5 countries that use XBRL.
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28
Which of the following provides the most capability for sharing data between applications?
A)Spreadsheets
B)Text files
C)XBRL
D)HTML
A)Spreadsheets
B)Text files
C)XBRL
D)HTML
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29
Within the first quarter of implement XBRL, the FDIC went from a 66 percent data accuracy to
A)75 percent accuracy
B)86 percent accuracy
C)95 percent accuracy
D)98 percent accuracy
A)75 percent accuracy
B)86 percent accuracy
C)95 percent accuracy
D)98 percent accuracy
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30
How is XBRL being used in the Americas?
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31
Beginning in 2009, the SEC mandated the use of XBRL for SEC filings for
A)Selected large publicly held companies
B)All privately held companies
C)Selected large privately held companies
D)All publicly held companies
A)Selected large publicly held companies
B)All privately held companies
C)Selected large privately held companies
D)All publicly held companies
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32
In some situations, XBRL may be used instead of spaghetti code, to make data interchangeable among its systems.
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33
How is XBRL being used in Europe?
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34
XBRL converts unstructured data into structured data, automating data exchange by making the data interchangeable across formats, software applications, and platforms.
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35
XBRL converts unstructured data into
A)Business intelligence
B)Shadow data
C)Metadata
D)Structured data
A)Business intelligence
B)Shadow data
C)Metadata
D)Structured data
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36
XBRL bolt-on tagging permits companies to make more extensive use of XBRL for internal decision making.
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37
Which country was the first capital market in the world to adopt XBRL?
A)USA
B)United Kingdom
C)China
D)Japan
A)USA
B)United Kingdom
C)China
D)Japan
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38
How is XBRL being used in Asia?
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39
Which country does not use XBRL for financial reporting?
A)Israel
B)Luxembourg
C)Spain
D)Peru
A)Israel
B)Luxembourg
C)Spain
D)Peru
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40
The data stored in a relational database is stored with its metadata, such as data about the time period, account, currency, and so on.
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41
XBRL shows promise to streamline financial reports and data processing by using digital tagging that is the equivalent to the use of
A)Retina scanning for security
B)Relational database for data storage
C)Bar code scanning on inventory
D)B and C
A)Retina scanning for security
B)Relational database for data storage
C)Bar code scanning on inventory
D)B and C
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42
The data stored in an XBRL database is stored with
A)Superior data integrity
B)Bar codes
C)Metadata
D)Business intelligence tools
A)Superior data integrity
B)Bar codes
C)Metadata
D)Business intelligence tools
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43
An instance document contains specific amounts for a taxonomy at one instance.
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44
XBRL uses the same syntax used by XML and HTML.
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45
________ adds tags as information is processed, similar to adding bar codes during the manufacturing process.
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46
A(n)________ database, can store both the data and the metadata.
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47
Organizations using integrated enterprise systems with a centralized database can use XBRL integrated tagging if they use a(n)________.
A)Dimensional database
B)XBRL database
C)Relational database
D)Network database
A)Dimensional database
B)XBRL database
C)Relational database
D)Network database
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48
What is the difference between bolt-on tagging and integrated tagging?
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49
When are XBRL tags added to data?
A)When the data is imported into the data warehouse
B)After reports are created
C)During information processing
D)B and C
A)When the data is imported into the data warehouse
B)After reports are created
C)During information processing
D)B and C
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50
Which of the following is the best benefit of using integrated XBRL tagging?
A)It is an additional cost to meet mandated requirements.
B)Permits companies to make more extensive use of XBRL for internal decision making
C)Enables the user of spreadsheets to track data
D)Enables the data to be retrieved from the database before adding the XBRL tags
A)It is an additional cost to meet mandated requirements.
B)Permits companies to make more extensive use of XBRL for internal decision making
C)Enables the user of spreadsheets to track data
D)Enables the data to be retrieved from the database before adding the XBRL tags
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51
A taxonomy is a dictionary that defines the XBRL tags used for specific data items.
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52
________ tagging permits companies to make more extensive use of XBRL for internal decision making.
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53
A(n)________ database can store data but not metadata.
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54
Organizations using integrated enterprise systems with a centralized database can use XBRL integrated tagging if they use a(n)________.
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55
In XBRL, the opening and closing tags are identical.
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56
Which of the following is not a benefit of XBRL?
A)Reduced data quality
B)Reduced processing time
C)Greater data integrity
D)Increased standardization
A)Reduced data quality
B)Reduced processing time
C)Greater data integrity
D)Increased standardization
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57
Instead of installing an enterprise system or writing ________ to connect various systems, Walcoal in Japan uses XBRL to make data interchangeable among its systems.
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58
________ adds tags after reports are prepared, just as bar codes were added to bottles at the end of the manufacturing process.
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59
XBRL has been compared to product ________.
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60
XBRL software tools using a specified taxonomy transforms data into XBRL instance documents.
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61
A ________ is a dictionary that defines the XBRL tags used for specific data items.
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62
The XBRL linkdase ________ link defines different kinds of relationships between elements. For example, ZIP code is the postal code used in the United States.
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63
XBRL schemas define relationships between data.
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64
Match the linkbase to the appropriate definition.
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Reference link
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Reference link
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65
The XBRL linkbase ________ link defines the relationships between the elements and the external regulations or standards.
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66
Match the linkbase to the appropriate definition.
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Label link
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Label link
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67
Match the XBRL essential to the appropriate definition.
A)Defines relationships between data
B)Defines which elements are related to a particular taxonomy
C)Identifies the specific amounts for a taxonomy at one instance
D)Relates to data and metadata
E)A dictionary that defines the XBRL tags used for specific data items
Taxonomy
A)Defines relationships between data
B)Defines which elements are related to a particular taxonomy
C)Identifies the specific amounts for a taxonomy at one instance
D)Relates to data and metadata
E)A dictionary that defines the XBRL tags used for specific data items
Taxonomy
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68
The ________ define which elements are related to a particular taxonomy.
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69
Match the XBRL essential to the appropriate definition.
A)Defines relationships between data
B)Defines which elements are related to a particular taxonomy
C)Identifies the specific amounts for a taxonomy at one instance
D)Relates to data and metadata
E)A dictionary that defines the XBRL tags used for specific data items
Instance document
A)Defines relationships between data
B)Defines which elements are related to a particular taxonomy
C)Identifies the specific amounts for a taxonomy at one instance
D)Relates to data and metadata
E)A dictionary that defines the XBRL tags used for specific data items
Instance document
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70
Match the following elements to the appropriate definitions.
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Identifier elements
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Identifier elements
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71
Match the following elements to the appropriate definitions.
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Data element
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Data element
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72
The XBRL linkbase ________ link defines basic validation rules. For example, assets equal liabilities plus stockholders' equity.
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73
Match the linkbase to the appropriate definition.
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Definition link
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Definition link
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74
Match the linkbase to the appropriate definition.
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Calculation link
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Calculation link
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75
Match the following elements to the appropriate definitions.
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Context element
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Context element
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76
Match the following elements to the appropriate definitions.
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Entity elements
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Entity elements
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77
Match the linkbase to the appropriate definition.
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Presentation link
A)Defines the labels used in the document
B)Defines how the elements are presented
C)Defines the relationships between the elements and the external regulations or standards
D)Defines the basic validation rules
E)Defines different kinds of relationships between elements
Presentation link
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78
Match the following elements to the appropriate definitions.
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Unit elements
A)Numeric and nonnumeric facts
B)Time period
C)Unit of measure
D)Unique ID for the element
E)Defines the company or entity
F)Explains the environment in which the data appears
Unit elements
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79
With XBRL ________, the account titles and structure have been standardized.
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80
XBRL ________ define relationships between data.
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