XBRL-based structured digital financial reporting
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Digital Financial Reporting Using XBRL
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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due.If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.
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Diligence, Negligence, and GrossNegligence
Some definitions:
Diligence: Diligence is steadfast application, assiduousness and industry; the virtue of hard work.
Due diligence: Due diligence is the necessary amount of diligence required in a professional activity to avoid being negligent.
Negligence: Negligence is a failure to exercise the care that a reasonably prudent person would exercise in like circ*mstances.
Gross negligence: Gross negligence is a legal concept which means serious carelessness. Negligence is the opposite of diligence, or being careful. The standard of ordinary negligence is what conduct one expects from the proverbial "reasonable person." By analogy, if somebody has been grossly negligent, that means they have fallen so far below the ordinary standard of care that one can expect, to warrant the label of being "gross."
Posted on Friday, September 5, 2014 at 09:03AM by 
Charlie | 
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