Extensible Business Reporting Language (XBRL) is an XML-based language for the electronic transmission of business and financial data. XBRL is not an accounting standard; it is simply a standard for transmitting business and financial data. XBRL has the ability to "tag" or code each element on a financial or business report with information such as description, units, currency, etc., so that it is easy to identify and understand for users of the information. The XML tagging means that the information in a business report is computer readable and can be more easily extracted, searched and analyzed by users of that information.