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Excel Master It! Problem The extensible Business Reporting Language (XBRL) is likely the future of financial reporting. XBRL is a computer language that tags each
Excel Master It! Problem The extensible Business Reporting Language (XBRL) is likely the future of financial reporting. XBRL is a computer language that "tags" each item and specifies what that item is. XBRL reporting already has been adopted for use in Australia, Japan, and the United Kingdom. XBRL reporting will allow investors to quickly download financial statements for analysis. Excel Master coverage online Currently, several companies voluntarily submit financial statements in XBRL format. For this assignment, go to the SEC website at ww w.sec.gov. When you click the link for a particular filing, the XBRL results are shown at the bottom of the page. Download the income statement and balance sheet from the annual report for a company of your choice. Using these reports, calculate the financial ratios for the company from the data available for the past two years. Do you notice any changes in these ratios that might indicate the need for further investigation? Page 98
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