• DR. BIKRAMJIT SINGH
• SHARANDEEP KAUR

The emergence of XBRL (eXtensible Business Reporting Language) has transformed the landscape of corporate communication with shareholders and stakeholders. It comprises taxonomies, defining reporting concepts, and instances, presenting these concepts in a machine-readable format. Compared to traditional reporting methods like word documents, spreadsheets, PDFs, or HTML, XBRL offers streamlined and efficient reporting for organizations, benefiting both companies and information users. Its advantages include clarity in expressing concepts, enhanced transparency, reduced costs, elimination of manual data entry, improved reliability, hardware and software independence, and interactivity. XBRL's journey has seen it gain acceptance across jurisdictions worldwide, including India. Here, it has been adopted for reporting by organizations in various sectors, including banking, securities, and cost auditing. Despite its numerous benefits, XBRL is not without challenges, such as mapping errors, training costs, and a lack of human readability. Nevertheless, XBRL's evolution from inception to global adoption has revolutionized financial reporting, promoting efficiency and transparency in the corporate world. As technology and regulatory standards continue to evolve, XBRL remains a crucial tool for financial reporting and data exchange.

XBRL, Digital Business Reporting, Financial Reporting Standard, Reporting Taxonomies

"XBRL's Journey: From Inception to Global Adoption", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 10, page no.c183-c191, October-2023, Available :http://www.jetir.org/papers/JETIR2310222.pdf

"XBRL's Journey: From Inception to Global Adoption", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 10, page no. ppc183-c191, October-2023, Available at : http://www.jetir.org/papers/JETIR2310222.pdf