PricewaterhouseCoopers is one of the UK drivers of XBRL - the extensible business reporting language - designed to enable analysts, investors and other financial data users speed up and simplify the way in which key financial data is extracted from the Web, then downloaded into applications.
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Originally driven from the US by the American Institute of Certified Public Acc-ountants, more than 30 other organisations have since joined forces to create the XML-based specification, which has just been published for review.
XBRL uses XML-based data tags to describe financial statements for both public and private companies. XBRL benefits all members of the financial information supply chain.