Why Is XBRL Needed in the Financial Community? in Your

question 30

Essay

Why is XBRL needed in the financial community? In your opinion,why did the Securities and Exchange Commission mandate its usage? What does it provide that was not available before XBRL

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Definitions:

External Environment

All external forces or factors that impact an organization's performance, including competition, economy, laws, and social trends.

Diverse Environments

Contexts or settings characterized by a wide range of differences, including cultural, biological, social, and ecological variation.

Mechanistic Structures

Organizational designs characterized by rigid hierarchies, strict rules, and clear, centralized decision-making processes.

Stable Environments

Environments that are consistent, predictable, and relatively unchanging over a period of time.