Question 1

In which country is the XBRL mandated for filing reports of business financial accounts?

Accepted Answer

A) Australia 
B) New Zealand 
C) Both Australia and New Zealand 
D) Neither Australia nor New Zealand 
A) Australia 
B) New Zealand 
C) Both Australia and New Zealand 
D) Neither Australia nor New Zealand

Question 2

The statement,"a collection of XML linking language that extends links that document the semantics of concepts in taxonomy," is used to define:

Accepted Answer

A) XBRL elements 
B) XBRL tags 
C) XBRL linkbases 
D) XBRL instance documents 
A) XBRL elements 
B) XBRL tags 
C) XBRL linkbases 
D) XBRL instance documents

Question 3

The statement that "All current software can import,export and process data in XBRL format" is put forward on the basis that:

Accepted Answer

A) These pieces of software can manipulate XML. 
B) These pieces of software are designed specifically to support XBRL. 
C) These pieces of software are semantic-based. 
D) These pieces of software are GAAP and IFRS compliant. 
A) These pieces of software can manipulate XML. 
B) These pieces of software are designed specifically to support XBRL. 
C) These pieces of software are semantic-based. 
D) These pieces of software are GAAP and IFRS compliant.

Question 4

XBRL allows meanings to be embedded within strings of financial data.This meaning is conveyed by:

Accepted Answer

A) Embedding tags that identify where separate pieces of data start and end within strings of data. 
B) Embedding comments at the end of the strings of data. 
C) Specifying the meaning of data at the schema document. 
D) Having a set of internationally agreed meanings assigned to specific types of data. 
A) Embedding tags that identify where separate pieces of data start and end within strings of data. 
B) Embedding comments at the end of the strings of data. 
C) Specifying the meaning of data at the schema document. 
D) Having a set of internationally agreed meanings assigned to specific types of data.

Question 5

Explain the concept of continuous auditing.

Accepted Answer

Continuous auditing is when the organisa

Question 6

Which of the following is NOT a major benefit offered by XBRL?

Accepted Answer

A) Cost saving in supplying financial data. 
B) Greater efficiency in using financial data. 
C) Improved accuracy and reliability in supplying financial data. 
D) Enhanced encryption in supplying financial data. 
A) Cost saving in supplying financial data. 
B) Greater efficiency in using financial data. 
C) Improved accuracy and reliability in supplying financial data. 
D) Enhanced encryption in supplying financial data.

Question 7

The coding structures for XBRL are:

Accepted Answer

A) country specific 
B) region specific 
C) the same for every country 
D) developed by the SBR 
A) country specific 
B) region specific 
C) the same for every country 
D) developed by the SBR

Question 8

The advantages of PDF files are:

Accepted Answer

A) that they can be securely locked so that the figures cannot be changed 
B) that they can be easily manipulated and changed by users 
C) the software to produce them is very cheap 
D) none of the options are correct 
A) that they can be securely locked so that the figures cannot be changed 
B) that they can be easily manipulated and changed by users 
C) the software to produce them is very cheap 
D) none of the options are correct

Question 9

XBRL can be used for:

Accepted Answer

A) external financial reporting only 
B) internal financial reporting only 
C) both external and internal financial reporting 
D) exchanging financial information between business partners only 
A) external financial reporting only 
B) internal financial reporting only 
C) both external and internal financial reporting 
D) exchanging financial information between business partners only

Question 10

Which of the following is NOT a type of linkbase?

Accepted Answer

A) Calculation linkbase 
B) Extension linkbase 
C) Presentation linkbase 
D) Reference linkbase 
A) Calculation linkbase 
B) Extension linkbase 
C) Presentation linkbase 
D) Reference linkbase

Question 11

Which of the following countries do not have XBRL financial requirements yet?

Accepted Answer

A) Australia 
B) China 
C) Japan 
D) Malaysia 
A) Australia 
B) China 
C) Japan 
D) Malaysia

Question 12

If you want to search for data held by a stock exchange that uses XBRL,you can:

Accepted Answer

A) download the XBRL reports directly into Microsoft Excel or Microsoft Word 
B) download the XBRL reports directly into Microsoft Access or Microsoft Word 
C) download the XBRL reports directly into Microsoft Excel or Microsoft Access 
D) none of the options are correct 
A) download the XBRL reports directly into Microsoft Excel or Microsoft Word 
B) download the XBRL reports directly into Microsoft Access or Microsoft Word 
C) download the XBRL reports directly into Microsoft Excel or Microsoft Access 
D) none of the options are correct

Question 13

The first country to formally require XBRL for public company financial reporting was:

Accepted Answer

A) Canada 
B) the United States 
C) China 
D) Brazil 
A) Canada 
B) the United States 
C) China 
D) Brazil

Question 14

Explain how accounts can be tagged using XBRL.

Accepted Answer

There are several steps to follow to get

Question 15

When the XBRL tagging is applied to a document,the resulted XBRL tagged document is called:

Accepted Answer

A) taxonomy document 
B) taxonomy dictionary 
C) instance dictionary 
D) instance document 
A) taxonomy document 
B) taxonomy dictionary 
C) instance dictionary 
D) instance document

Question 16

Which of the following is correct?

Accepted Answer

A) There are different ways to apply XBRL tags. 
B) There is a debate in the accounting information systems community as to where to tag data. 
C) There are two main ways to apply XBRL tags. 
D) Whichever way we choose to apply XBRL tags will not affect core processes and data quality. 
A) There are different ways to apply XBRL tags. 
B) There is a debate in the accounting information systems community as to where to tag data. 
C) There are two main ways to apply XBRL tags. 
D) Whichever way we choose to apply XBRL tags will not affect core processes and data quality.

Question 17

Discuss the benefits that XBRL can provide to internal users.

Accepted Answer

Data from different company divisions wi

Question 18

To improve audit quality in terms of XBRL,one can: (i)audit the coding of XBRL (ii)audit the tagging of XBRL (iii)audit the changes in XBRL tags (iv)audit the classifications in the XBRL taxonomy.

Accepted Answer

A) (i)(ii)(iii)(iv) 
B) (i)(ii)(iii) 
C) (iii)(iv) 
D) (i)(ii) 
A) (i)(ii)(iii)(iv) 
B) (i)(ii)(iii) 
C) (iii)(iv) 
D) (i)(ii)

Question 19

It is advocated that every accountant and financial professional should be familiar with XBRL.However,which of the following is actually NOT required in this regard?

Accepted Answer

A) Knowing how to navigate the XBRL taxonomies. 
B) Knowing how to use the XBRL taxonomies. 
C) Knowing how to create XBRL instance documents. 
D) Knowing how to obtain a high level of XBRL assurance. 
A) Knowing how to navigate the XBRL taxonomies. 
B) Knowing how to use the XBRL taxonomies. 
C) Knowing how to create XBRL instance documents. 
D) Knowing how to obtain a high level of XBRL assurance.

Question 20

Metadata is:

Accepted Answer

A) complex data that is required for XBRL 
B) data that describes other data 
C) complex data that is required for HTML processes to take place 
D) none of the options are correct 
A) complex data that is required for XBRL 
B) data that describes other data 
C) complex data that is required for HTML processes to take place 
D) none of the options are correct

In which country is the XBRL mandated for filing reports of business financial accounts?

The statement,"a collection of XML linking language that extends links that document the semantics of concepts in taxonomy," is used to define:

The statement that "All current software can import,export and process data in XBRL format" is put forward on the basis that:

XBRL allows meanings to be embedded within strings of financial data.This meaning is conveyed by:

Explain the concept of continuous auditing.

Which of the following is NOT a major benefit offered by XBRL?

The coding structures for XBRL are:

The advantages of PDF files are:

XBRL can be used for:

Which of the following is NOT a type of linkbase?

Which of the following countries do not have XBRL financial requirements yet?

If you want to search for data held by a stock exchange that uses XBRL,you can:

The first country to formally require XBRL for public company financial reporting was:

Explain how accounts can be tagged using XBRL.

When the XBRL tagging is applied to a document,the resulted XBRL tagged document is called:

Which of the following is correct?

Discuss the benefits that XBRL can provide to internal users.

To improve audit quality in terms of XBRL,one can: (i)audit the coding of XBRL (ii)audit the tagging of XBRL (iii)audit the changes in XBRL tags (iv)audit the classifications in the XBRL taxonomy.

It is advocated that every accountant and financial professional should be familiar with XBRL.However,which of the following is actually NOT required in this regard?

Metadata is:

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

In which country is the XBRL mandated for filing reports of business financial accounts?

The statement,"a collection of XML linking language that extends links that document the semantics of concepts in taxonomy," is used to define:

The statement that "All current software can import,export and process data in XBRL format" is put forward on the basis that:

XBRL allows meanings to be embedded within strings of financial data.This meaning is conveyed by:

Explain the concept of continuous auditing.

Which of the following is NOT a major benefit offered by XBRL?

The coding structures for XBRL are:

The advantages of PDF files are:

XBRL can be used for:

Which of the following is NOT a type of linkbase?

Which of the following countries do not have XBRL financial requirements yet?

If you want to search for data held by a stock exchange that uses XBRL,you can:

The first country to formally require XBRL for public company financial reporting was:

Explain how accounts can be tagged using XBRL.

When the XBRL tagging is applied to a document,the resulted XBRL tagged document is called:

Which of the following is correct?

Discuss the benefits that XBRL can provide to internal users.

To improve audit quality in terms of XBRL,one can: (i)audit the coding of XBRL (ii)audit the tagging of XBRL (iii)audit the changes in XBRL tags (iv)audit the classifications in the XBRL taxonomy.

It is advocated that every accountant and financial professional should be familiar with XBRL.However,which of the following is actually NOT required in this regard?

Metadata is:

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