Question 2 - Technology concepts

You have been asked to advise on a possible XBRL installation for Melody Ltd.

Melody Ltd is a multi-store retail business that sells products such as DVDs, CDs,

mp3 players, game consoles and TVs. In addition to these retail sales, Melody Ltd

also sells music, games and DVDs via its website. The company is required to report

to shareholders, regulatory bodies and the tax office. Melody Ltd currently has an

ERP system with SAP installed on it.

Required:

With reference to Melody Ltd discuss:

a) the benefits of using XBRL in this organisation

b) the costs of using XBRL in this organisation.