XBRL - Page 5

XBRL Filing For The Financial Year 2011-2012

XBRL (eXtensible Business Reporting Language) is a language for the electronic communication of business and financial data that has revolutionized business reporting around the world. Its major benefits include ease in preparation, analysis and communication of business information by the corporates. It offers cost savings, greater effic...

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Posted Under: Company Law |

View Solicited on MCA Exposure Draft on XBRL Taxonomy based on Revised Schedule VI

Ministry of Corporate Affairs (MCA) has come out with an Exposure Draft on XBRL taxonomy for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account for the financial year 2011-12 based on Revised Schedule VI....

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Posted Under: Company Law |

Filing of Cost Audit Report (Form‐I) and Compliance Report (Form‐A) in XBRL mode

52/17/CAB‐2011 29/06/2012

52/17/CAB‐2011 In continuation of MCA’s General Circular No. 8/2012 dated 10th May, 2012, it has been decided that filing of Cost Audit Reports and Compliance Reports with the Central Government in the XBRL mode shall be allowed after 31st July, 2012. ...

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XBRL – What’s all about

XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those in...

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Posted Under: Company Law |

Future Implementation of XBRL

The Ministry of Corporate Affairs has set up a Committee to develop the roadmap for future implementation of Extensible Business Reporting Language (XBRL). This Committee comprises of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI). The terms of reference of the ...

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Posted Under: Company Law |

Exposure Draft of General Purpose Financial Reporting XBRL Taxonomy Based on Revised Schedule VI for Commercial and Industrial Companies

With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new taxonomy is a general purpose taxonomy capable of being used for filing annual financial statements f...

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Posted Under: Company Law |

Implementation of XBRL

Implementation of XBRL The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Ministry has set up a committee in November 2011 comprising of XBRL experts and representatives from the corporate sector as well as the Institute of Chartered Accountants of India (ICAI) with the [&h...

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Posted Under: Company Law |

A practical insight to XBRL Efiling

XBRL (Extensible Business Reporting Language) is another advanced reporting language of the XML family. XBRL ensures that the figures reported to government authorities and other organisation does not remain dormant piece of printed papers but these figures can be used in data analysis....

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Posted Under: Company Law |

Comments invited on the XBRL filings for Financial Year 2010-11

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 [&hel...

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Posted Under: Company Law |

New Initiatives under MCA 21 System- Integration with Trade Mark Authority, XBRL reporting

The Ministry of Corporate Affairs has established an added facility under MCA 21, integration with Trade Mark Authority recently. The added feature facilitates professional / public to cross verify Company name before applying for ROC approval....

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Posted Under: Company Law |

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