Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1.what are some of the common problems users encou

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

70.2K

Verified Solution

Question

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?

Answer & Explanation Solved by verified expert
4.0 Ratings (569 Votes)
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
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

ABC Co. lends DEF Co. $30,000 with 6% on October 1, 2019. Thenote is...

Statistics
1.2K views

The Business Education Department has six full-time faculty members. At their monthly department meeting, each full-time faculty...

Biology
1.2K views

Think about the Article The reader can tell that A Amazon has probably thought about...

Physics
1.2K views

Light incident normally on a plane mirror attached to a galvanometer coil reflects backward as...

Basic Math
1.2K views

Vymbylte formaling help DETAILS Find the rectangular equation of the parametric curve x 7e y...

Basic Math
1.2K views

The time it takes in hours to travel from bridge A to bridge B can...

Statistics
1.2K views

If an orange tree sapling is planted it has a 50 chance of growing into...

Accounting
1.2K views

What are the key similarities and differences between Financial Accounting and Managerial Accounting? How do...

Accounting
1.2K views

Post the following transactions to T-accounts and determine each account's ending balance

Accounting
1.2K views

1. Towson Corp., was organized on January 2, 2018. During the first year of operation,...

Accounting
1.2K views

At the beginning of 2018, Ivanhoe Co. purchased an asset for $1700000 with an estimated...

Accounting
1.2K views

For purposes of substantiation of mileage for the vehicle expense, a sole proprietor in business...