The XBRL information standard is added to the list of formats compatible with our CAT (computer-assisted translation) tool. This is an important step in translation for companies that deal with the creation of accounting documents.
What is XBRL?
Because every computer application uses a different format to store data, specific solutions needed to be developed for exchanging information between two different applications. And so, the XBRL standard was born. XBRL stands for eXtensible Business Reporting Language. It is the language that allows companies, through taxonomies (a skeleton of how the information should be distributed), to exchange financial information automatically. Users select the information they want, capturing it easily and processing it with no need for manual interventions.
Advantages of the XBRL standard
Using this format means that it is possible to work with and distribute accounting and financial information among companies, institutions or users who wish to access this type of documentation. Some of the advantages that this information standard offers are:
- Improved presentation of accounting and/ or financial information for these types of companies
- Cost savings in all stages of the information processing
- Simplified access to data
- Quicker working speeds with financial data
- Reduced risk of errors and automation of information control
Which formats are compatible with our CAT tool?
With the aim of permitting the distribution of translated accounting documents, and never compromising on confidentiality, we have gone one step further by integrating this format into our CAT tool. At AT, we work with translation technology that is compatible with a number of formats: .doc, .docx, .xls, .xlsx, .ppt, .pptx, .html, .txt, .xliff, .ascii, .rtf, .xml, .json, .js, .xbrl, .tmx, .indd.
This integration represents a breakthrough for translation, and for companies that work with accounting documentation or have to provide financial reports in multiple languages.