Assignment 1 The SEC issued an order that requires filing using Inline XBRL. Read the introduction page and the AICPA’s comment letter, and tour around the filing from JP Morgan Chase. Answer the...

Assignment 1
a. What is Inline XBRL?
XBRL is an organized data language which permits the archivists to prepare only one document which is decipherable by both human as well as machine. Thus, the archivists need to formulate only an inline XBRL text. This saves a lot of time in generating an HTML document with respect to the financial statement information or with respect to their risk/ return summary information. This also reduces the burden of tagging one specific document of the information or data which helps in preparation and display of a discrete XBRL. For the users of data, it is the Inline XBRL which provides a very simple process to access, interpret and discover the appropriate information of the original data. Hence due to Inline XBRL the users are able to connect on discrete marked data points in the filing which enables them to discover more information in the form of hyperlinks and citations for accounting guidance, narrative definitions of values and reporting of the information with respect to the period associated with each value (US Securities Exchange and Commission, 2020). Over...