What is XBRL? XBRL meaning or definition?

eXtensible Business Reporting Language = XBRL

Definition of XBRL: eXtensible Business Reporting Language is a standard that was developed to improve the way in which financial data is communicated, making it easier to compile and share this data.

XBRL is a type of XML(extensible markup language), which is a specification that is used for organizing and defining data. XBRL uses tags to identify each piece of financial data, which then allows it to be used programmatically by an XBRL-compatible program. XBRL allows for easy transmission of data between businesses.