Want to learn about XBRL-based digital general purpose financial reports? Working through the Luca tutorials that I have created might be very helpful.
I have made significant updates to the documentation related to how to use the cloud-based version of Luca which is an XBRL-based financial report creation tool. To get to the tutorials, go to this blog post in the list you see below:
The tutorials are not yet complete; I will make updates as the Luca functionality improves. In particular, you might very well find the Accounting Equation, SFAC 6, Common Elements of Financial Statements, and MINI Financial Reporting Scheme quite useful if you want to understand XBRL-based digital general purpose financial reports.
Digital financial reporting is here to stay. It could be looked as an "incremental innovation", just another tool accountants have available. It could be looked at as something that will revolutionize accounting, reporting, auditing, and analysis, a "disruptive innovation". Learn about the tool to figure out which. Either way you look at it, digital financial reporting is here to stay.