Digital Financial Reporting through XBRL (Extensible Business Reporting Language)will be the tool with which finance executives worldwide would be doing their daily reporting in future,this was stated by Noman Yunus,Senior Manager at Saudi Industrial Projects pany (PEPSI),while delivering the recently nducted technical session at the Saudi Arabia (Jeddah)Chapter Institute of Chartered Acuntants of India (JCICAI).

XBRL is a standard,XML-based language for digitizing financial reports in acrdance with rules of acunting.It was invented in 1998by Charles Hoffman,a CPA in the US and is being developed and standardized by XBRL International (),which is a global nsortium with over 250leading anizations.XBRL is now widely adopted by over 20global jurisdictions,including 19stock exchanges and 10taxing authorities and the number is rising every year.

XBRL is essentially a dictionary of ‘tags’that can be applied to each element in a financial statement.This tells standard software what the item represents and how it relates to other items in the report,much like giving all the facts in the report a unique barde

XBRL is being adopted as mandatory requirement around the world.It is Mandatory as of now for Banks and financial institutions in UK,India,Germany and Japan and in US for Tax Payers.In Middle east UAE has initiated a plan to mandate XBRL for all listed mpanies.IRIS Business Services is now offering XBRL solutions to Tadawul Stock Exchange in Saudi Arabia.IRIS is re-developing the Saudi Arabian rporate Profiler system of Tadawul using XBRL technology.This also involves designing and building the taxonomy for vering all filing requirements.

Its advantages are it gives highly aurate data which can be both calculated and verified,allows real-time preparation and analysis of reports,efficient,aurate and relevant ways to search data which once entered can be reused in multiple ways and formats.It is platform independent and allows presentation and exchange of data in many different languages.

It disadvantages are it is stly to implement as tagging financial information requires substantial front end investment of time and resources.

Further if the data is inrrectly labeled then information will be unreliable resulting in unnecessary extensions,which might deteriorate its usability.

Having said that Yunus said that the advantages far outweigh the disadvantages and the future financial reporting uld be exciting with XBRL.

In the end the Chairman of JCICAI Nadeem Bhamla thanked Yunus for the valuable time he had devoted in giving this presentation which was exciting and informative and presented him with a momento on behalf of the Chapter.

中文新闻：XBRL格式数字财务报告将是大势所趋