Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your client, Shad Clothes, Inc., is now required to file XBRL data interactive financials with the SEC. Your firm has just begun to offer XBRL

Your client, Shad Clothes, Inc., is now required to file XBRL data interactive financials with the SEC. Your firm has just begun to offer XBRL tagging and filing services and since you have most recently returned from an XBRL training seminar, you’ve been given the assignment! Complete the following two tasks in preparation for the project: 

1) Write a short summary for your client about what XBRL is and the steps you will take to complete the mapping of their balance sheet and income statement. This should be less than three paragraphs. 

2) Map the company’s balance sheet and income statement that appear in the attached spreadsheet. Use the link to the 2012 US GAAP Financial Reporting Taxonomy to view the taxonomy and retrieve the information you need to complete the mapping spreadsheet. 

For this initial set of statements no extensions should be required. Insert your response to #1 into your Excel workbook and upload the workbook (containing parts 1 & 2) to your Assignment Folder by the due date in the Course Calendar.

Step by Step Solution

3.54 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

XBRL or eXtensible Business Reporting Language is a software standard that was developed to improve the way in which financial data is communicated making it easier to compile and share this data Nota... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Principles and Applications

Authors: Sheridan Titman, Arthur J. Keown, John H. Martin

13th edition

134417216, 978-0134417509, 013441750X, 978-0134417219

More Books

Students also viewed these Accounting questions