"Masterclass on eXtensible Business Reporting Language "was held on Wednesday 28 May 2014 by hosted ICC  Iran at Iran Chamber of Commerce Building.

Dr. Ali ABDOLAHI (Board member of Shahid Beheshti University and Specialist on programming and implementation of XBRL) and a group of experts from banks, IT companies and commercial firms professionally discussed on the subject. 

The purposes of this course were introduction and definition of eXtensible Business Reporting Language and its impact on the development of e-commerce, also facilitate trade reports to improve matters related to Export, Import and Investment pursuant to increases the speed and transparency in providing information to stakeholders.

" XBRL is a standard that has been accepted and adopted the world over thus reducing inconsistencies in terminologies and data formattingcan for exchanging business information as possible to understand and process information provided by the computer " said mr. Abdolahi. He also announced the use of the language is imperative to implement Regulatory bodies in the areas of capital markets, banking, financial supervision, tax, corporate bodies responsible for registration in the recent years and the most developed countries have attempted to implement this language.

He also emphasized Facilitate the receipt and publication of annual reports, Facilitate reporting by establishing uniform standards for all corporate reports, the possible to compare different companies to export and import data, the possible  processing and monitoring companies in the commercial status quickly,the possibly to inform  the public quickly, Exchange between the reporting system without having to re-enter data, Receive and disseminate information and reports in various languages ​​and help attract foreign capital are the main benefits of XBRL in the areas of trade.

Further more XBRL Dimension, The major challenge for businesses, Important reasons to implement XBRL,Benefit of XBRL, Development and deployment of XBRL in the different ares, Accounting and XBRL standards were presented in this masterclass.

In addition Q & A session was held and the trainer answered participants questions at the end of the session.

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