Digital Financial Reporting

XBRL-based structured digital financial reporting

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Digital Financial Reporting Using XBRL

US GAAP Reporting

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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due. If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.

The author of this web site assumes all responsibility for this web site and it's content. The views expressed on this web site are the views of the author and may not represent the views of his employer.

BLOG: Digital Financial Reporting

This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.

Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.

Entries from December 11, 2016 - December 17, 2016

Understanding Logical, Mechanical, and Mathematical Accounting Relations in XBRL-based Digital Financial Reports

“Learn from the mistakes of others. You can never live long enough to make them all yourself.”

Groucho Marx

There are two approaches to learning:

Learning by making mistakes.
Learning from the mistakes of others.

Approach #1 is the noble way to learn, make mistakes yourself. But it can be time consuming. Approach #2 is the wise way. It is very efficient to learn from the mistakes of others.

I have accumulated documentation of about 200 errors in XBRL-based digital financial reports. To professional accountants and others who want to learn about XBRL-based digital financial reports, particularly those who want to create ZERO DEFECT reports, this information is extremely valuable. It is this sort of information that helped the 9 quality leaders, the software vendors/filing agents that got to the point where most of the reports they create are error-free per my mesaurement of the fundamental accounting concept relations.

Here are those summaries: