Final answer:
XBRL tagging is the process of assigning XBRL tags to financial data within an enterprise system, using elements from an XBRL taxonomy. The term used for assigning XBRL tags internally within a financial reporting/enterprise system is XBRL tagging.
Step-by-step explanation:
The process of assigning XBRL tags internally within a financial reporting or enterprise system is known as XBRL tagging. This involves tagging financial data with predefined elements from an XBRL taxonomy, which is a structured framework of tags that represent the meaning of financial information.
The aim is to standardize the presentation of financial data to ensure consistency and clarity for comparison, analysis, and compliance purposes. This process helps to improve the accuracy and efficiency of financial reporting..