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1.What are some of the common problems users encounter when trying to compare financial statements of...

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Accounting

1.What are some of the common problems users encounter whentrying to compare financial statements of companies (even when theyare in the same industry)? Describe how using XBRL could helpalleviate these problems.

2. What are the current XBRL filing requirements forpublicly-listed firms in the US?

3. Why should a business create XBRL-enabled financialreports?

4. Does the FDIC require banks to file any report(s) using XBRL?If so, which reports?

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Answer What are some of the common problems users encounter when trying to compare financial statements of companies even when they are in the same industry Describe how using XBRL could help alleviate these problems Ans The companies have different reporting structures and accountant labels For example two different even though they are in the same industry might record the same expense under    See Answer
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