You have been called in as an XBRL consultant. The president of the company has asked for your opinion regarding the costs and benefits of XBRL
What would you say? What benefits of XBRL do you see as the most important? What costs should an organization consider?
What will be an ideal response?
You could state many benefits of XBRL including transparency, quality, and timeliness. You should also explain the advantages and disadvantages of the bolt-on and the integrated tagging techniques.
The cost associated with XBRL reporting could include the cost of the implementation of XBRL reporting system.
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_____ reflects inventory that is being assembled or manufactured from its raw state into finished goods for sales
a. Work-in-process inventory b. Finished goods inventory c. Perpetual inventory d. Raw materials inventory
Who generally makes the final decision?
A) The manager. B) The team. C) The group. D) None of the above.