Question 1

Continuous auditing looks at:

Accepted Answer

A) the output rather than the process 
B) the process rather than the output 
C) the process and the output 
D) the outputs from XBRL tagged accounts 
A) the output rather than the process 
B) the process rather than the output 
C) the process and the output 
D) the outputs from XBRL tagged accounts

Question 2

Which of the following is more likely to have similar XML?

Accepted Answer

A) The music industry and the fishing industry. 
B) The government and the finance industry. 
C) A university and a college. 
D) A construction company and a real estate agency. 
A) The music industry and the fishing industry. 
B) The government and the finance industry. 
C) A university and a college. 
D) A construction company and a real estate agency.

Question 3

DTD is:

Accepted Answer

A) a dependency specification for XBRL 
B) a set of specifications for XML tags 
C) a set of specifications for HTML tags 
D) None of the options are correct 
A) a dependency specification for XBRL 
B) a set of specifications for XML tags 
C) a set of specifications for HTML tags 
D) None of the options are correct

Question 4

Describe the five linkbases associated with XBRL.

Accepted Answer

(i)Calculation linkbase - a calculation

Question 5

By attaching meaning to strings of text,XBRL adopts a __________.

Accepted Answer

A) semantic approach. 
B) non semantic approach 
C) referencing to data approach 
D) none of the options are correct 
A) semantic approach. 
B) non semantic approach 
C) referencing to data approach 
D) none of the options are correct

Question 6

What does XBRL stand for?

Accepted Answer

A) Exchangeable Business Reporting Language 
B) Extensible Business Reporting Language 
C) Executable Business Reporting Language 
D) Extensive Business Reporting Language 
A) Exchangeable Business Reporting Language 
B) Extensible Business Reporting Language 
C) Executable Business Reporting Language 
D) Extensive Business Reporting Language

Question 7

The Securities Exchange Commission in the US specified that all public companies that prepare financial statements in accordance with at least US GAAP and all foreign private issuers that prepare their financial statements using IFRS must provide their financial statements to the SEC and their corporate websites in:

Accepted Answer

A) PDF format 
B) XBRL format 
C) HTML format 
D) Hardcopy 
A) PDF format 
B) XBRL format 
C) HTML format 
D) Hardcopy

Question 8

Tagging is the process of associating an item in accounts to the XBRL __________ in an XBRL __________.

Accepted Answer

A) element;taxonomy 
B) tag;schema 
C) element;schema 
D) tag;taxonomy 
A) element;taxonomy 
B) tag;schema 
C) element;schema 
D) tag;taxonomy

Question 9

Discuss the use of XBRL in Australia.

Accepted Answer

Currently XBRL is not a standard for fil

Question 10

Which of the following is the coding structure that would be used for Australia and New Zealand?

Accepted Answer

A) XBRL 
B) IFRS 
C) GAAP 
D) XML 
A) XBRL 
B) IFRS 
C) GAAP 
D) XML

Question 11

A taxonomy contains a __________ that contains the __________ in the financial accounts.

Accepted Answer

A) schema;elements 
B) dictionary;elements 
C) schema;tags 
D) dictionary;tags 
A) schema;elements 
B) dictionary;elements 
C) schema;tags 
D) dictionary;tags

Question 12

Which of the following statements is correct?

Accepted Answer

A) XML is a content language 
B) HTML is a content language and XML is a tagging language 
C) XML has predefined tags that control how content appears when displayed on a computer screen 
D) None of the options are correct 
A) XML is a content language 
B) HTML is a content language and XML is a tagging language 
C) XML has predefined tags that control how content appears when displayed on a computer screen 
D) None of the options are correct

Question 13

What does extensibility mean in XBRL? Discuss.

Accepted Answer

Extensibility is the idea that each comp

Question 14

Using XBRL for internal purposes means that:

Accepted Answer

A) an organisation can set up the coding structure of the items they want to tag to match industry wide standards 
B) an organisation can set up the coding structure of the items they want to tag to match what is particularly suitable for that company 
C) an organisation must set up the coding structure of the items they want to tag to match a global standard 
D) None of the options are correct 
A) an organisation can set up the coding structure of the items they want to tag to match industry wide standards 
B) an organisation can set up the coding structure of the items they want to tag to match what is particularly suitable for that company 
C) an organisation must set up the coding structure of the items they want to tag to match a global standard 
D) None of the options are correct

Question 15

There are ________ main ways to code financial accounts.

Accepted Answer

A) two 
B) three 
C) four 
D) none of the options are correct 
A) two 
B) three 
C) four 
D) none of the options are correct

Question 16

The main issue of XBRL tags in an accounting system is to ensure the tags that are set up against the chart of accounts codes in the __________ are correct and have been verified.

Accepted Answer

A) accounts payable ledger 
B) general ledger 
C) accounts receivable ledger 
D) inventory ledger 
A) accounts payable ledger 
B) general ledger 
C) accounts receivable ledger 
D) inventory ledger

Question 17

The advantages of XBRL are:

Accepted Answer

A) reduced data manipulation 
B) paperless reporting 
C) reduced accounting time 
D) all of the options are correct 
A) reduced data manipulation 
B) paperless reporting 
C) reduced accounting time 
D) all of the options are correct

Question 18

Large banks around the world:

Accepted Answer

A) are beginning to require companies to use XBRL in their loan application processes 
B) are yet to require companies to use XBRL in their loan application processes 
C) are not convinced on the benefits of XBRL 
D) none of the options are correct 
A) are beginning to require companies to use XBRL in their loan application processes 
B) are yet to require companies to use XBRL in their loan application processes 
C) are not convinced on the benefits of XBRL 
D) none of the options are correct

Question 19

Which types of organisations can use XBRL to save costs and improve efficiency in handling business and financial information?

Accepted Answer

A) Government agencies. 
B) Non-profit organisations. 
C) Publicly listed companies. 
D) All types of organisations. 
A) Government agencies. 
B) Non-profit organisations. 
C) Publicly listed companies. 
D) All types of organisations.

Question 20

Which of the following is not identified as a source of XBRL-related cost savings?

Accepted Answer

A) Increased data processing capability 
B) Decreased data redundancy 
C) Increased technology capabilities 
D) Decreased costs of bookkeeping 
A) Increased data processing capability 
B) Decreased data redundancy 
C) Increased technology capabilities 
D) Decreased costs of bookkeeping

Continuous auditing looks at:

Which of the following is more likely to have similar XML?

DTD is:

Describe the five linkbases associated with XBRL.

By attaching meaning to strings of text,XBRL adopts a __________.

What does XBRL stand for?

Tagging is the process of associating an item in accounts to the XBRL in an XBRL .

Discuss the use of XBRL in Australia.

Which of the following is the coding structure that would be used for Australia and New Zealand?

A taxonomy contains a that contains the in the financial accounts.

Which of the following statements is correct?

What does extensibility mean in XBRL? Discuss.

Using XBRL for internal purposes means that:

There are ________ main ways to code financial accounts.

The main issue of XBRL tags in an accounting system is to ensure the tags that are set up against the chart of accounts codes in the __________ are correct and have been verified.

The advantages of XBRL are:

Large banks around the world:

Which types of organisations can use XBRL to save costs and improve efficiency in handling business and financial information?

Which of the following is not identified as a source of XBRL-related cost savings?

Systems Fundamentals

Systems Characteristics and Considerations

Database Concepts I

Database Concepts II

System Mapping and Documentation

Internal Controls I

Internal Controls II

Transaction Cycle The Revenue Cycle

Transaction Cycle The Expenditure Cycle

Transaction Cycle The Production Cycle

Transaction Cycle The HR Management and Payroll Cycle

Transaction Cycle The General Ledger and Financial Reporting Cycle

Systems Development

Auditing of Accounting Information Systems

Ethics, fraud and Computer Crime

Filters

Exam 5: XBRL Reporting

Continuous auditing looks at:

Which of the following is more likely to have similar XML?

DTD is:

Describe the five linkbases associated with XBRL.

By attaching meaning to strings of text,XBRL adopts a __________.

What does XBRL stand for?

Tagging is the process of associating an item in accounts to the XBRL __________ in an XBRL __________.

Discuss the use of XBRL in Australia.

Which of the following is the coding structure that would be used for Australia and New Zealand?

A taxonomy contains a __________ that contains the __________ in the financial accounts.

Which of the following statements is correct?

What does extensibility mean in XBRL? Discuss.

Using XBRL for internal purposes means that:

There are ________ main ways to code financial accounts.

The main issue of XBRL tags in an accounting system is to ensure the tags that are set up against the chart of accounts codes in the __________ are correct and have been verified.

The advantages of XBRL are:

Large banks around the world:

Which types of organisations can use XBRL to save costs and improve efficiency in handling business and financial information?

Which of the following is not identified as a source of XBRL-related cost savings?

Systems Fundamentals

Systems Characteristics and Considerations

Database Concepts I

Database Concepts II

System Mapping and Documentation

Internal Controls I

Internal Controls II

Transaction Cycle The Revenue Cycle

Transaction Cycle The Expenditure Cycle

Transaction Cycle The Production Cycle

Transaction Cycle The HR Management and Payroll Cycle

Transaction Cycle The General Ledger and Financial Reporting Cycle

Systems Development

Auditing of Accounting Information Systems

Ethics, fraud and Computer Crime

Filters

Tagging is the process of associating an item in accounts to the XBRL in an XBRL .

A taxonomy contains a that contains the in the financial accounts.