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QUESTION$: 6. Has tha wwriter stated the major claim of the discusion in light of its discussion through-out tha paper? wht shouuld the reader do? Where those involved in the discussion had been enlightened by the end of the argument? 7. Wht is u r und3rstunding of the initial question after reading the discuuussed position paper? Has this understanding been adequately expressed in a broader perspective or context? 8. Wht c0nfus3s u? (For ex., a certain word choice, the topic and/or its presentation, or the explnation of something in particular. does the discussion become hard to read or lose its coherence? Wh3re? And how might you fix it? 9. Does the discussion remain within the chosen text? If there are any generalizations or speculations, underline them so that you can point them out to your member(s). 10. Wht has the writeeer done well in his/her discussion?

Position Paper in Accounting Information System Overview of Mastering eXtensible Business Reporting Language (XBRL)-based Digital Financial Reporting

The usage of eXtensible Business Reporting Language or XBRL for auditors and financial accountants provides a great opportunity to boost the efficiency, organization, transparency, and accuracy of handling financial information among the internal and external users of the financial reports in a business environment. Utilizing XBRL is another way to fully immerse ourselves to digitize the general ledgers and other reports by engaging in a computer-based accounting framework that implements strong points of standardization and interactiveness among its end users such as investors, managements, and governments. Among other accounting standards in other countries, the use for such a method has been strongly mandated, including the United States and China. This opens an extensive question about what exactly an XBRL is and what kind of benefits it provides to accountants and its end users within the same field. To define first, XBRL is a method that replaces the traditional practices of encoding financial data in a text-based format with a computerized input that allows it to be encrypted into a readable digital layout, delivering it directly to the business' records. If a user accesses it using an accounting information system software, the file will appear to them as a convertible financial report, complete in information, and organized to the system's requirements. This way, columns, numbers, account titles, and names will be easily accessed and viewed and compared throughout different periods of time. Additionally, It is a technology similar to the series of codes used to track goods and services movement in the market, structured like the other types of the Extensible Markup Languages or XML. The main concept of XBRL is deeply rooted from the foundations of taxonomy, which automatically highlights the precision it possesses in recording data, avoiding the threat of input errors in general ledgers when the recording of expenditures and inventories are in practice. To explain better, its benefits to its users according to the Extensible Business Reporting Language: A Guide for investors (2009, CFA Institute), is summarized to a simple quote namely "XBRL being better, faster, and cheaper." It is better in a sense that it is improved in quality and availability, lessening the question of its integrity to regulators and investors. This avenue reduces human errors in mapping out the data and in keying them onto the financial records, allowing information to be tagged and transformed into other key pieces of models used by the companies in their systems. With the conditions seeked out by the stakeholders using financial reports, XBRL is considered faster and timely. Besides its inherent speed due to its nature being of electronic standards, it is also flexible, allowing easier rekeying of data and erasures of minimal mistakes, shortening the time of evaluation processes. In effect, general ledgers will be comparable and simpler to manage because of uniformity and XBRL being readily available to those who will seek these data. Lastly, it is cheaper because it can now be accessible over transfer via utilization of the internet and other software, allowing multiple authorized parties like investors, analysts, and government, to take a look at the financial data they each need with a lower price attached or for free disposal. This benefit also tackles the fact that their expenditures will not simply go away by just using the XBRL, instead, they will be refocusing their duties to lessen their expenses by changing their goal from collection of data to analysis of such. Their resources will then be extinguished through the process of inputting data in their company models, expansion of source filings, and purchasing it from providers via third party. This will lead to business opportunities related to market research and investments after developing it and implementing it in a longer term. In conclusion, XBRL is an electronic international standard, form, and medium of financial reports that can be readily converted and distributed to the stakeholders who are in need of such information and financial data. It brings out the full potential and serves as a transition from manual practices to of computerized inputs that prompt secured accuracy and easier analysis to its end users. Furthermore, its benefits include its better integration in quality, faster nature in regards to timeliness, and cheaper in terms of resource allocation. Along with this, the scope of XBRL's benefits include reduced costs, improved access and comparability, validity, productivity, quality, transparency, and usefulness. It may also become a tool for detection of frauds, sharing of information, collection of data and reporting, and analysis.