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peraphtrase and Appa refrences The two global accounting standards that are US-GAAP and IFRS standards have integrated XBRL language in the form of taxonomies that

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The two global accounting standards that are US-GAAP and IFRS standards have integrated XBRL language in the form of taxonomies that are updated annually. The accounting standard setters publish or update each year the reference taxonomy associated with their accounting standards. In the USA, the Financial . Accounting Standards Board (FASB) reports a taxonomy for United States Generally Accepted Accounting Principles (US-GAAP) containing more than 15,000 different tags, which serve as a reference for filing financial statements on the SEC's EDGAR digital platform. Similarly, the IFRS foundation reports an annual taxonomy for financial statements in IFRS format that includes approximately 5,000 tags. In March 2017, the SEC announced the availability of the IFRS Taxonomy for foreign private issuers (FPI) that prepare financial statements under IFRS. Consequently, firms listed in the USA aS an FPI using IFRS will be required to report their financial statements electronically using XBRL. FPIs that report under IFRS are subject to the SEC's XBRL filing requirements. Filers can also find other taxonomies for more specific and accurate purposes (for a country, an industry, mutual The two global accounting standards that are US-GAAP and IFRS standards have integrated XBRL language in the form of taxonomies that are updated annually. The accounting standard setters publish or update each year the reference taxonomy associated with their accounting standards. In the USA, the Financial . Accounting Standards Board (FASB) reports a taxonomy for United States Generally Accepted Accounting Principles (US-GAAP) containing more than 15,000 different tags, which serve as a reference for filing financial statements on the SEC's EDGAR digital platform. Similarly, the IFRS foundation reports an annual taxonomy for financial statements in IFRS format that includes approximately 5,000 tags. In March 2017, the SEC announced the availability of the IFRS Taxonomy for foreign private issuers (FPI) that prepare financial statements under IFRS. Consequently, firms listed in the USA aS an FPI using IFRS will be required to report their financial statements electronically using XBRL. FPIs that report under IFRS are subject to the SEC's XBRL filing requirements. Filers can also find other taxonomies for more specific and accurate purposes (for a country, an industry, mutual

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