Company Law : Numerous proficient persons are mystified about the applicability of XBRL (Filing of Documents and Forms in Extensible Business Re...
Company Law : All about XBRL Applicable to Listed Companies and companies having a paid up capital of Rs. 5 Crore and above or a turnover of Rs....
CA, CS, CMA, Finance : Domestic companies may soon have to file financial statements in a computerised format to enable easy flow of information between ...
Company Law : The Ministry of Corporate Affairs has issued a corrigendum after noticing some errata on the circular issued on March 31st, 2011 r...
Company Law : The government said it is planning to make it mandatory for corporates to file balance sheets with it in data form, using XBRL (eX...
Finance : The quest for a solution in the area of Financial Reporting alongwith the capabilities of XML for electronically reporting financi...
Finance : XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is re...
Company Law : These rules may be called the Companies (Central Government's) General Rules and Forms (Amendment) Rules, 2011. (2) They shall com...
Company Law : The following class of companies have to file their Balance Sheet, Profit and Loss Account and other documents as required under s...
Company Law : In supersession of this Ministry's Circular No. 9/2011, dated 31-3-2011 and 25/2011 dated 12-5-2011, Ministry of Corporate Affair...
Company Law : General Circular No. 09/2011, Dated the 31.03.2011- It has been decided by the Ministry of Corporate Affairs to mandate certain c...
Numerous proficient persons are mystified about the applicability of XBRL (Filing of Documents and Forms in Extensible Business Reporting Language). MCA has issued 1 Notification on 06th November, 2017
These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011. (2) They shall come into force with effect from 6th October, 2011. 2. In the Companies (Central Government’s) General Rules and Forms, 1956, after Form 23ACA, the following Forms shall be inserted, namely:-
The following class of companies have to file their Balance Sheet, Profit and Loss Account and other documents as required under section 220 of the Companies Act, 1956 with the Registrar using the Extensible Business Reporting Language (XBRL) taxonomy given in Annexure enclosed to the rules for the financial year ending on or after 315t March, 2011 with e-Form no. 23AC-XBRL and 23ACA-XBRL specified under the Companies (Central Government) General Rules and Forms, 1956, namely:-
In supersession of this Ministry’s Circular No. 9/2011, dated 31-3-2011 and 25/2011 dated 12-5-2011, Ministry of Corporate Affairs hereby mandated certain class of companies to file Balance sheets and Profit and loss Account along with Director’s and Auditor’s Report for the year 2010-11 onwards by using XBRL taxonomy. The Taxonomy Business Rules, Validity tools etc. required for preparation the above documents in XBRL format as the existing Schedule VI and Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 have been prepared and hosted on the website of the Ministry at www.mca.gov.in . The Frequently Asked Questions (FAQs) about XBRL have been framed by the Ministry and they are being annexed as Annexure I with this circular for the information and easy understanding of the stakeholders. To enable filing on XBRL by stakeholders, MCA-21 portal will have XBRL filing module by July, 2011. Actual date will be informed separately.
The Ministry of Corporate Affairs has issued a corrigendum after noticing some errata on the circular issued on March 31st, 2011 regarding the filing of Balance Sheet and Profit & Loss Account in extensible Business reporting language (XBRL) mode. Accordingly, the circular No. 9/2011 has been rectified as under:
All about XBRL Applicable to Listed Companies and companies having a paid up capital of Rs. 5 Crore and above or a turnover of Rs. 100 crore or above – eXtensible Business Reporting Language (XBRL) is an open technology standard which makes it possible to store business and financial information in a computer-readable format. Many countries and/or financial regulators have approved, or are in the process of implementing, requirements around XBRL as the electronic financial reporting standard. These include the US, Japan, UK, Netherlands, Australia & China to name a few.
General Circular No. 09/2011, Dated the 31.03.2011- It has been decided by the Ministry of Corporate Affairs to mandate certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. The Financial Statements required to be filed in XBRL format would be based upon the Taxonomy on XBRL developed for the existing Schedule VI, as per the existing, (non converged) Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006. The said Taxonomy is being hosted on the website of the Ministry at www.mca.gov.in shortly. The Frequently Asked Questions ( FAQs ) about XBRL have been framed by the Ministry and they are being annexed as Annexure I with this circular for the information and easy understanding of the stakeholders.
The government said it is planning to make it mandatory for corporates to file balance sheets with it in data form, using XBRL (eXtensible business reporting language) technology, from next fiscal. Currently companies file their annual returns and balance sheets with the Ministry of Corporate Affairs (MCA) by filing up an e-form.
The quest for a solution in the area of Financial Reporting alongwith the capabilities of XML for electronically reporting financial information gave birth to XBRL (eXtensible Business Reporting Language). In the recent times, XBRL has emerged as a p
XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. XBRL is one of a family of “XML” languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL provides major benefits in the preparation, analysis and communication of business information.
