Dear Professional Colleague,
The mode of filing of the Financial Statements have undergone a sea change. Earlier from the physical filing of the records to e-filing and now to a totally new language of reporting called, XBRL. In the first phase of implementation, the scope of XBRL filing has been restricted to a limited number of companies, by MCA, however, which is expected to gradually expand in the years to come.
The taxonomy provided for the filings with the MCA, being general purpose in nature nature ,was not intended to meet the specific requirements of the different classes of industries.
The CA professional community being instrumental in the identification of the tags of the line items of the Financial Statements to the corresponding elements in the taxonomy, is called for providing the name(s) of the elements, which they consider , should be present in the taxonomy, and, failure of which would necessitate the creating of extension.The name (s) of such elements may be sent along with the name of Industry to which it pertains to ,at firstname.lastname@example.org by the 31st January, 2012.