The importance of an in-house Securities and Exchange Commission reporting solution with built-in XBRL tagging capabilities is becoming more and more evident as many companies complete their first exercise in detailed tagging. With financial reporting teams looking to take control of their tagging, it is clear to see that additional insight is needed around the selection of XBRL tags.
Overall, XBRL tagging is a straightforward concept to grasp: identifying common data elements for comparison. However, detailed tagging can create a myriad of challenges that should be considered. By examining your XBRL units closely for accuracy and usability, the correctness of your entire report will improve considerably.
