#xbrl

[webtelcompliancesolutions]

Streamline Your XBRL Preparation with an MCA Validation Tool

In the realm of financial reporting, XBRL (eXtensible Business Reporting Language) has become the standard format for submitting financial statements to regulatory authorities. As a business, ensuring the accuracy and compliance of your XBRL filings is crucial. In this blog, we will explore the importance of using an MCA  validation tool for the preparation of XBRL filings. Discover how this tool can streamline the XBRL preparation process, improve accuracy, and ensure compliance with regulatory requirements.

[rakeshraseo321]

Accounting Service Singapore

In Singapore, ZE Global is the obvious choice for accounting services. ZE Global is well-known for providing financial solutions such as accounting, bookkeeping, and tax advice. Their qualified staff ensures accuracy, accountability, and regulatory compliance in Singapore. The personalized and cost-effective services tailored to businesses of all sizes suggest ZE Global’s dedication to customer success. With an excellent reputation for truthfulness and a customer-focused approach, ZE Global is the go-to partner for individuals looking for the best accounting service Singapore. ZE Global offers high-quality financial expertise to help your company succeed.

[microvista]

XBRL Filing Software India: Revolutionizing Financial Reporting

Introduction: Embracing Efficiency in Financial Reporting

In the dynamic landscape of financial reporting, where accuracy, transparency, and efficiency are paramount, XBRL Filing Software India has emerged as a game-changing tool. This article delves into the world of XBRL (eXtensible Business Reporting Language) filing software in India, exploring its significance, features, and the transformative impact it's making on financial reporting processes.

XBRL Filing Software India: Unveiling the Power of Automation

XBRL Filing Software India offers a revolutionary approach to financial reporting by automating the process of data preparation, analysis, and submission. This software enables businesses and organizations to convert financial data into a standardized digital format, ensuring compatibility, accuracy, and easy interpretation. With its advanced features, XBRL Filing Software India ensures that financial reports meet regulatory requirements while saving time and reducing the risk of errors.

Benefits of Using XBRL Filing Software India

Incorporating XBRL Filing Software India into your financial reporting workflow brings forth an array of benefits:

Enhanced Accuracy: The software's automation reduces the likelihood of manual errors during data conversion and submission, ensuring precision in financial reporting.

Time Savings: XBRL Filing Software India significantly accelerates the reporting process, allowing professionals to allocate their time to more strategic tasks.

Regulatory Compliance: The software ensures adherence to regulatory guidelines, helping organizations avoid penalties and compliance issues.

Cost Efficiency: XBRL Filing Software India reduces operational costs associated with financial reporting by minimizing manual effort and errors.

Improved Data Analysis: The standardized data format allows for easier analysis and comparison, aiding in informed decision-making.

Key Features of XBRL Filing Software India

XBRL Filing Software India is equipped with a range of features tailored to simplify and optimize financial reporting:

Data Mapping: Mapping financial data to XBRL taxonomy becomes seamless, ensuring accurate representation.

Validation: The software performs real-time validation, identifying inconsistencies and errors before submission.

Collaboration: Multiple team members can collaborate on reports, enhancing efficiency and accuracy.

Version Control: Maintain a history of previous submissions and updates, ensuring transparency and accountability.

Data Security: Ensure data privacy with robust encryption and access controls.

Adopting XBRL Filing Software India: Best Practices

To make the most of XBRL Filing Software India, consider these best practices:

Thorough Training: Invest in comprehensive training to familiarize users with the software's functionalities and ensure effective utilization.

Quality Control: Implement internal review processes to catch any errors before submission, enhancing the accuracy of reports.

Stay Updated: Regularly update the software to benefit from the latest features and comply with changing regulations.

Engage Experts: Seek guidance from professionals experienced in XBRL implementation for optimal results.

XBRL Filing Software India: Leading the Financial Evolution

XBRL Filing Software India has ushered in a new era of financial reporting, where precision, speed, and compliance converge. Its transformative capabilities not only simplify reporting processes but also enable organizations to make informed decisions based on standardized, accurate data. As technology continues to shape the financial landscape, XBRL Filing Software India stands as a testament to innovation and efficiency.

FAQs about XBRL Filing Software India

What is XBRL Filing Software India? XBRL Filing Software India is a specialized tool designed to convert financial data into the XBRL format, streamlining the process of regulatory reporting and compliance in the Indian context.

Why is XBRL important in India's financial reporting?XBRL simplifies the standardization and sharing of financial information, making it easier for regulatory bodies and stakeholders to analyze and interpret data accurately.

Can XBRL Filing Software India adapt to changing regulations? Yes, reputable XBRL Filing Software India solutions often offer updates to align with changing regulatory requirements, ensuring ongoing compliance.

Is XBRL Filing Software suitable for small businesses?Absolutely, XBRL Filing Software India caters to businesses of all sizes, offering scalability and efficiency in financial reporting.

How does XBRL enhance data accuracy? XBRL minimizes manual data entry, reducing the potential for errors, and incorporates validation checks to ensure the accuracy of submitted data.

What's the learning curve for using XBRL Filing Software India? The learning curve depends on the software's complexity and the user's familiarity with financial reporting concepts. Comprehensive training can shorten the learning process.

Conclusion: Transforming Financial Reporting Dynamics

In the ever-evolving landscape of financial reporting, XBRL Filing Software India has emerged as a beacon of efficiency and accuracy. By automating data conversion, streamlining processes, and enhancing collaboration, this software empowers organizations to navigate complex regulatory frameworks with confidence. Embracing XBRL Filing Software India is not just an adaptation to modern practices but a stride toward shaping the future of financial reporting.

[tax-print]

Tax Print: Your One-Stop Shop for All Tax-Related Needs in Mumbai

Tax Print offers a comprehensive range of tax solutions and services for individuals and businesses nationwide. With over 62 years of experience, we are a trusted source for tax-related financial products, software, and expert advice. Their commitment to personalized service ensures you receive the tailored solutions you need at an affordable price.

Tax Print has a rich history, starting as a printing press for government tax forms in Mumbai. They have evolved alongside the industry, partnering with leading software developers to provide cutting-edge solutions for businesses of all sizes. Their team of experts offers valuable insights and support to help you navigate the complexities of tax laws.

Whether you're a chartered accountant, company secretary, or an individual taxpayer, Tax Print is your one-stop shop for all your tax needs.

[rakeshraseo123]

XBRL Singapore

ZE Global Accounting Service is a leading organisation that specialises in providing high-quality corporate accounting services in XBRL Singapore. With a long history of meeting the diversified financial demands of firms in various industries, they have established themselves as a reliable corporate finance partner. We understand how important it is to manage accounting records, so ZE Global is here to help you keep and manage the accounting records safely.

Click Here: https://www.singaporeaccountingservice.com/

[mycompanywala]

XBRL Services in Delhi | XBRL Conversion Services in Delhi

MyCompanywala.com provides XBRL Services in Delhi, XBRL Conversion services in Delhi, Top XBRL conversion and filing services in Delhi NCR at best in the market. XBRL Services in Delhi https://www.mycompanywala.com/xbrl.php

[biglisbonnews]

InMode - One Beautiful Stock https://seekingalpha.com/article/4609891-inmode-one-beautiful-stock

[calcbench]

Q&A with Olga Usvyatsky, Power User

How did you learn about Calcbench? When did you start using the platform? 

I first met [Calcbench co-founder and chief technology officer] Alex Rapp at a conference where he presented Calcbench as a beta-stage product; the year was 2012 or 2013. I thought it was cool tech. Following the conference, I spent time with Alex in Boston and started using Calcbench. 

As an early adopter it’s been great to see the development of the platform over the past decade — it’s changed a lot since the early days! It’s more complex and offers more features.  

Which features do you use on the platform? 

I started using Calcbench’s high-level financial data in my role at Audit Analytics to supplement the data Audit Analytics received from other data providers. My usage evolved into using data from the footnotes. Recently, I started digging into the text search feature. I like to search for information within specific footnotes. 

Depending on the type of the analysis that I am doing, I use either the Company-in-Detail or the Multi-Company page. For example, I recently used the Company-in-Detail page to compare 10-Q filings of the same company. See the excerpt below from my Substack article, Can SEC Comment Letters Shed Light on Crypto Accounting?

We used Calcbench’s Company-in-Detail page to compare Marathon Digital’s disclosure of Digital Currencies Policy between 10-Q filings for the three months ending on March 31, 2023, and June 30, 2023, and identified the following language added to the June 30, 2023 filing:

“Digital assets are included in current assets in the condensed consolidated balance sheets. In addition, digital assets provided as collateral for long-term loans were reported as Digital assets, restricted at December 31, 2022 and classified as long-term assets in the condensed consolidated balance sheets. During the first quarter of 2023, the long-term loan was terminated and the restrictions on digital assets lapsed (refer to NOTE 12 – DEBT, for further discussion).”

The added language could be related to the unresolved comments disclosed in Item 1B of the 10-K filing discussed above. (Interestingly, an SEC comment letter to Microstrategy (MSTR) publicly released on June 9, 2023, also raised questions about bitcoin used as collateral.)

For the recent research piece that I wrote for Calcbench, Understanding Changes to Non-GAAP reporting, I performed a bulk download from the Multi-Company page. 

By the way, I never had a demo from Calcbench. The platform is intuitive and easy to use. 

You have used the platform in academic and professional settings. Explain how that worked for both. 

In a professional setting, I use Calcbench to supplement other data sources. Calcbench helps me with trends analysis. For example, with Calcbench I can easily evaluate changes in disclosure to see where disclosures are moving. With Calcbench, I can understand the difference in ratios over time. 

For academic purposes I use Calcbench’s bulk data for statistical analysis. Calcbench data is in a machine-readable format and is easy to aggregate, which saves time. 

You’re familiar with other data platforms. What data can you get from Calcbench that you can’t get from other providers? 

Believe it or not, one of the variables that I look for, that’s not easy to get elsewhere, is number of shares. While that information may be available at big data providers, it can be expensive or may not be in the format that I need. 

A unique feature that Calcbench offers is XBRL custom tags. This feature is helpful when I need to pull the data related to a particular topic. Let's say I need to identify balances related to the fair value of  Level 3 securities. It is easy to search for "Level 3" XBRL tags and pull the relevant data.

A couple of other things that are not as popular with other providers: revisions and trace history and linking back to the original file. 

What other offerings would you like Calcbench to offer? 

I like getting alerts. It would be great if Calcbench could offer alerts on specific disclosures, such as if a specific phrase shows up in a particular footnote. For example, take discount rates. I would like to get an alert when a discount rate changes in a pension footnote. These days, I am using text search more often and would like to see an expansion of this search. 

Lastly, executive compensation is a hot topic. It would be helpful to how companies are integrating pay-for-performance into their disclosures. 

-30-

[webtelcompliancesolutions]

Effortless Compliance: Master Financial Reporting with Top XBRL Filing Software

Explore the best XBRL filing software for streamlined financial reporting. Navigate regulatory complexities effortlessly and enhance accuracy in your financial disclosures. Stay compliant and in control.

[rakeshraseo321]

Accounting Services

At ZE Global, we provide complete accounting services tailored to satisfy companies’ particular requirements in various sectors. Our team of seasoned accountants is committed to offering accurate and dependable financial management services to ensure that your company maintains compliance and achieves financial clarity. All of your accounting needs are addressed by us, from bookkeeping and payroll processing to tax preparation and financial reporting, all with severe attention to detail. With our knowledgeable advice, you can maximize your financial performance, make well-informed decisions, and concentrate on what you do best — growing your business. Select Singapore Accounting Service for individualized accounting support and unmatched professionalism.

[microvista]

XBRL Return Software: Streamlining Financial Reporting in the Digital Age

In today's fast-paced business world, accurate and timely financial reporting is crucial for both businesses and regulatory bodies. With the advancement of technology, the traditional methods of financial reporting have evolved into more efficient and automated processes. One such technology that has gained prominence is the XBRL return software. In this article, we'll delve into what XBRL is, the benefits of using XBRL return software, its impact on financial reporting, and more.

Introduction

In the realm of financial reporting, accuracy and speed are of utmost importance. The introduction of XBRL (eXtensible Business Reporting Language) has revolutionized the way financial information is shared, analyzed, and interpreted. XBRL return software takes the concept further by providing tools and platforms that facilitate seamless XBRL reporting.

Understanding XBRL

XBRL is a standardized language that allows businesses to tag financial data, making it easily understandable by both humans and machines. It adds a layer of context to the financial information, enabling software to categorize, compare, and analyze data efficiently. This standardized approach reduces errors and ensures consistency in reporting.

The Role of XBRL Return Software

XBRL return software plays a pivotal role in simplifying the process of preparing, validating, and submitting financial reports. It offers user-friendly interfaces that guide finance professionals through the tagging process. Moreover, it ensures compliance with regulatory requirements, making it an indispensable tool for companies operating in heavily regulated industries.

Benefits of XBRL Return Software

Streamlined Reporting

XBRL return software streamlines the reporting process by automating the conversion of financial data into XBRL format. This automation saves time, reduces manual errors, and allows finance teams to focus on higher-value tasks.

Enhanced Accuracy

Manual data entry can lead to errors, which might have severe consequences. XBRL return software reduces the risk of errors by applying predefined tags to data elements, ensuring accuracy and consistency across reports.

Improved Transparency

XBRL-tagged reports are easily accessible and shareable. This transparency enhances communication between stakeholders, including investors, regulators, and financial analysts, leading to better-informed decision-making.

How XBRL Software Works

XBRL return software operates by mapping financial data to a standardized set of tags defined by regulatory authorities. These tags categorize each data point, such as revenue, expenses, assets, and liabilities. The software then generates XBRL-formatted reports that can be submitted to relevant authorities.

Implementing XBRL in Financial Reporting

Integrating XBRL into the financial reporting process involves several steps. First, companies need to identify the relevant data points for reporting. Next, they apply XBRL tags to these data points using the software. Once tagged, the software compiles the data into a structured XBRL report.

Enhancing Accuracy and Transparency

XBRL return software's automated tagging minimizes the risk of errors in financial reports. Additionally, the transparency of XBRL-tagged data fosters trust among stakeholders, as they can verify and cross-reference information effortlessly.

Impact on Regulatory Compliance

Regulators require companies to submit accurate and timely financial reports. XBRL return software simplifies compliance by generating reports that adhere to regulatory standards, reducing the chances of fines or penalties due to non-compliance.

Challenges and Considerations

While XBRL return software offers numerous benefits, its implementation comes with challenges. Companies must ensure proper training for staff, select the right software provider, and stay updated with changing regulations to maximize the software's effectiveness.

Choosing the Right XBRL Software

Selecting suitable XBRL return software involves evaluating factors such as user-friendliness, integration capabilities, customer support, and pricing. It's essential to choose a solution that aligns with the company's unique needs and goals.

Integration with Existing Systems

Integrating XBRL return software with existing financial systems can streamline the reporting process further. Compatibility with existing software ensures a smooth transition to XBRL reporting without disrupting ongoing operations.

Future Trends in XBRL and Financial Reporting

As technology continues to evolve, XBRL return software is likely to become even more sophisticated. Predictive analytics, AI-driven insights, and real-time reporting capabilities could shape the future of financial reporting, making it more efficient and insightful.

Case Studies: Successful XBRL Implementation

Several companies have successfully integrated XBRL return software into their reporting processes. For instance, Company X streamlined its quarterly financial reporting, reducing preparation time by 50% and improving data accuracy.

FAQs About XBRL Return Software

What is XBRL return software?XBRL return software is a tool that helps businesses convert financial data into XBRL format for standardized and accurate reporting.

How does XBRL software enhance reporting accuracy?XBRL software automates the tagging process, reducing manual errors and ensuring consistent reporting.

Is XBRL return software suitable for small businesses?Yes, XBRL return software comes in various packages, making it accessible to businesses of all sizes.

Can XBRL return software be integrated with accounting systems?Absolutely, integrating XBRL software with accounting systems enhances data accuracy and streamlines reporting.

What's the future of XBRL return software?The future holds advanced features like AI-driven insights and real-time reporting, making financial reporting even more efficient.

Conclusion

XBRL return software has transformed financial reporting by providing a standardized, accurate, and efficient way to share financial data. Its benefits extend beyond accuracy, enhancing transparency, compliance, and decision-making. As technology advances, XBRL return software is poised to play an even more integral role in the world of financial reporting.

[indilegalonline]

XBRL Conversion for Cost Audit Report

XBRL Conversion for Cost Audit Report  5/5 Turnover Choose an option Upto Rs. 100 crore Above Rs. 100 crore & upto Rs. 300 crore Above Rs. 300 crore & upto Rs. 500 crore Above Rs. 500 crore Clear Add to Cart

XBRL Conversion for Cost Audit Report

Ministry of Corporate Affairs dated May 10, 2012 has mandate the cost auditors and the companies to file Cost Audit Reports (Form-I) and Compliance Reports (Form-A) for the year 2011-12 onwards (including the overdue reports relating to any previous year) by using the XBRL taxonomy. These reports, required to be filed in the XBRL format, would be based on the Taxonomy on XBRL as given in the following Rules: (i) Companies (Cost Accounting Records) Rules, 2011 (ii) Cost Accounting Records (Telecommunication Industry) Rules 2011 (iii) Cost Accounting Records (Petroleum Industry) Rules 2011 (iv) Cost Accounting Records (Electricity Industry) Rules 2011 (v) Cost Accounting Records (Sugar Industry) Rules 2011 (vi) Cost Accounting Records (Fertilizer Industry) Rules 2011 (vii) Cost Accounting Records (Pharmaceutical Industry) Rules 2011 (viii) Companies (Cost Audit Report) Rules, 2011 The Companies that are not covered under the industry specific Cost Audit Order no. 52/26/CAB-2010 dated November 6, 2010 are not required to file their Cost Audit Reports. When the activities/products of the companies covered under the Cost (Accounting Records) Rules, 2011 are included in the cost audit, they are not required to file the compliance report separately. However, the companies meeting the threshold limit prescribed under the Cost (Accounting Records) Rules, 2011 must file the compliance report in the XBRL format. The Cost Auditor is required to digitally sign and file the Cost Audit Report for the company as a whole. Extensible Business Reporting Language (XBRL) “Extensible Business Reporting Language” (XBRL) means a standardized language for communication in electronic form to express, report or file financial information by companies under Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2015. Companies (filing of documents and forms in Extensible Business Reporting Language) Rules, 2011 notified vide GSR No. 748E dated 5/10/2011 marked the beginning of XBRL for companies in India. Certain classes of companies as notified under Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2015 by the Central Government are required to mandatorily file their financial statement in Extensible Business Reporting Language (XBRL) format. Other companies can also file their financial statement in XBRL format voluntarily. However, once, filed in XBRL format, they would be required to file subsequent financial statements only in XBRL format. Vide Notification dated 9th September, 2015, Ministry of Corporate Affairs has notified “Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2015”. As per the same, companies falling in the following categories will have to file their Financial Statements under section 137 of the Companies Act, 2013 using the Extensible Business Reporting Language (XBRL) taxonomy for financial year commencing on or after 1st April, 2014:- - all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or - all companies having paid up capital of Rupees five crore and above; or - all companies having turnover of Rupees one hundred crore and above; or - all companies which were hitherto covered under the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011: However, companies in Banking, Insurance, Power Sector and Non-Banking Financial Companies are exempted from XBRL filing. Documents Required for XBRL Filing There are some documents required for the successful filing of XBRL which are as under: 1) Balance Sheet with its Notes 2) Profit and Loss Statement with its Notes 3) Cash Flow Statement. 4) Statement of Change in Equity. 5) Reports from the Board of directors with annexures thereto 6) Reports from the Independent Auditor with annexures thereto 7) Corporate Social Responsibility Report, if Any 8) Statement of Subsidiaries in Form AOC-1, if Any 9) Significant Accounting Policies 10) Other Relevant Documents, if Any Required Frequently Asked Questions What are forms in which XBRL Report are filed? < p tabindex="0">Form AOC-4 XBRL is for filing the company’s financial statement for every financial year with the Registrar of Company. If the subsidiary Company’s paid up capital is less than Rupees 5 Crore, then I want to know whether its financial statements are to be filed in XBRL. Indian subsidiaries of a listed company are required to file in XBRL format, irrespective of their paid up capital or turnover. Whether details of all subsidiaries need to be mentioned in instance document of holding company? How financial statements of subsidiaries need to be attached with the instance document of the holding company for compliance under section 212 of the Companies Act, 1956? If the holding company is mandated to file in XBRL, details of all subsidiaries (including foreign subsidiaries) need to be given as per “Notes - Subsidiary information” in the XBRL instance document of the holding company. In case of Indian subsidiaries, their financial statements are not required to be separately attached in the e-form of the holding company. SRN details of the (e-Form 23AC or e-Form 23AC-XBRL)/AOC-4 XBRL, as applicable, filed by Indian subsidiary needs to be mentioned in the instance document of the holding company. In case these e-Forms have not been filed by Indian subsidiaries, then reason of not filing also needs to be provided (For e.g: Different financial year followed by subsidiary, Extension of Financial Year or AGM taken by subsidiary, etc.) In case of foreign subsidiaries, annual accounts need to be attached as a separate PDF document in the e-Form 23AC-XBRL/AOC-4 XBRL of the holding company. In the XBRL document, in the element, you may mention 'Whether subsidiary has filed balance sheet' as NO and reason for not filing can be mentioned as 'Not applicable as it is a foreign subsidiary'. Note: Attaching of annual accounts of foreign subsidiaries is not required in case exemption u/s 212 of the Companies Act, 1956/section 129 of Companies act 2013 has been taken by the holding company. The company is having 'Unclassified Shares’ in the financial statements as on the balance sheet date. Where should the same be included while preparing financial statements in XBRL mode? There is no separate element for unclassified shares in the taxonomy. It needs to be provided either as equity or preference shares only. Necessary details/ clarifications can be provided as a footnote. Whether all NBFCs are exempted from XBRL filings ? Whether Housing Finance Companies are also exempted from XBRL filings this year? All NBFCs (including Housing Financing Company) that are registered with RBI or exempt from registration with RBI but registered with other regulators like SEBI, IRDA, National Housing Bank, etc are exempted from XBRL filings. Whether Gross Turnover (i.e., inclusive of duties and taxes) are to be considered for determining Rs. 100 crores turnover threshold of companies for XBRL filing, or the Net Turnover (i.e., exclusive of duties and taxes) is to be considered? Gross turnover (i.e. inclusive of duties and taxes) is to be considered for determining Rs. 100 crores turnover threshold for eligibility of a company for XBRL filings. Whether we have to file the consolidated financials or the standalone financials of the Holding Company? Whether it would be suffice if the company files the consolidated financials alone in XBRL format? Standalone financial statement of the holding company is to be filed mandatorily in XBRL. It will also contain details on information of its subsidiaries. Consolidated financials, if applicable, may also be filed with MCA as the taxonomy has elements for consolidation as well. Please give proper understanding on XBRL Taxonomy.. XBRL is an XML-based technology standard that improves the way financial information is created, processed, distributed and analysed. XBRL uses “tags” that package information such as definitions, labels, references and time period around individual accounting concept. In other words, XBRL is a collection of standardized, machine-readable “tags” for line items in financial statements. Taxonomies capture the definition of individual reporting accounting concepts as well as the relationships between various concepts. . The taxonomy comprises of the following components:- 1) Schema –The purpose of XBRL schemas is to define taxonomy elements (concepts) and give each concept a name and define its characteristics. It can be regarded as a container where elements and references to “linkbase” files are defined. 2) Presentation linkbase –Business reports are in general organized into identifiable data structures e.g. a Balance Sheet. The presentation linkbase stores information about relationships between elements in order to properly organize the taxonomy content. This enables a taxonomy user to view a one dimensional representation of the elements. Defines the structure for displaying the data, along with the preferred label attribute. 3) Calculation linkbase –The calculation linkbase defines basic calculation validation rules (addition/subtraction), which must apply for all instances of the taxonomy. establishes the arithmetical relationship of simple addition and subtraction, which is done by way of a weight attribute (1 or -1). The idea of a calculation linkbase is to improve quality of an XBRL report (XBRL instance). 4) Reference linkbase-Most of the elements appearing in taxonomies refer to particular concepts defined by authoritative literature. The reference linkbase stores the relationships between elements and the references. 5) Definition linkbase-The Definition linkbase stores other pre-defined or self-defined relationships between elements. For example a relationship can be defined that the occurrence of one concept within an XBRL instance mandates the occurrence of other concepts. 6) Label linkbase –XBRL report presented in different languages, etc requires the taxonomies to represent business data in multiple languages. Therefore it is possible to create an element (concept) in the taxonomy with labels in different languages and or for different purposes e.g. a short label PPE compared to its long label Property, plant and equipment. Those labels are stored and linked to their respective elements in a label linkbase. XBRL Schemas together with linkbases define an XBRL taxonomy. Please refer to C&I Taxonomy Architecture Guide 2012 on the MCA XBRL website for more technical details on XBRL. What is new Ind-AS taxonomy for filings of financial statement ? The new Ind AS taxonomy is based up on Indian Accounting Standard issued by ICAI and is applicable for companies preparing their financial statements for accounting year commencing on or after 01.04.2015. All companies, who have prepared their financial statement as per Indian Accounting Standard (Ind AS) shall use the new Ind AS taxonomy for filing their XBRL documents. What are the changes in the Ind AS Taxonomy vis-à-vis C&I Taxonomy ? In view of the applicability of the Indian Accounting Standard issued by ICAI, the recognition, presentation and disclosure of financial statement prepared for accounting year commencing on or after 01.04.2015 has undergone a change. Consequently, the MCA taxonomy (based upon Ind AS) has also been developed afresh. The broad differences between the Ind AS Taxonomy (based upon new Indian Accounting Standard) vis-à-vis earlier C&I Taxonomy (based upon Accounting Standard) are as follows: a. The IND AS Taxonomy is based on the requirements of newly issued Indian Accounting Standard. b. Requirements of new additional disclosures are also included. c. The architecture of the taxonomy has undergone various changes with the increase in number of elements by approximately 64%. More number of tables and residuary elements have been introduced to the taxonomy. The count of whether elements have increased corresponding to the applicability of the tabular data. d. Formula linkbase have also been developed to the Taxonomy to validate the relationship in XBRL monetary elements for The sum of Opening Balance and the corresponding changes entered during the year should match the Ending Balance for that year. e. The concept of ‘dimensions’ has been introduced in the taxonomy as against ‘tuples’. In case consolidation is applicable for current financial year and not applicable for the previous year, then how to file consolidated XBRL instance document? With respect to consolidated financial statements, if consolidation is not applicable for previous year, then consolidated financial statements of current year is to be attached in pdf format only. In this case only standalone financial statement is to be attached in XBRL mode. Similarly, if consolidation is applicable only for previous year and not for current year, then consolidated financial statements of previous year to be attached in pdf format and standalone financial statement is to be attached in XBRL mode. In such case, select 'NO' in the field 'Whether consolidated balance sheet is also being filed' and provide the consolidated financials in pdf format as an 'optional attachment'. The XBRL instance document of by company has passed MCA XBRL Validation Tool. Does this mean that I can certify/authenticate this document while attaching the same in e-form without any further verification ? No, the MCA XBRL Validation Tool is only one level of verifying the correctness & completeness of XBRL document filed by a company. Before certification or verification of the XBRL document on e-form by company and professional, it is important to ensure that disclosures provided in the XBRL documents are same as the financial statements adopted in the AGM of the company in all material aspects. In other words, a mere successful validation of an XBRL document through MCA Validation Tool does not imply that compliance under section 220 of the Companies Act, 1956/section 137 of Companies Act,2013 has been achieved. How do I ensure that the XBRL document filed by my company is correct and complete, and it is in accordance with requirements of section 220 of the Companies Act, 1956/section 137 of Companies Act,2013? The MCA XBRL Validation Tool also provides for a printable ‘human-readable’ pdf version of the XBRL document prepared by you. You shall ensure that disclosures in this pdf file are as per the adopted and published financial statement of the company in all material aspects. You may however note that due to XBRL taxonomy, HTML guidelines, etc, the display/presentation of these disclosures may not exactly match with those in published financial statements of the company. Such variations in human-readable’ pdf version of the XBRL document and published financial statements of the company are unavoidable, and thus permitted. What is meant by good quality of XBRL filings ? Although XBRL improves the quality of financial reporting by companies, an XBRL document may still be successfully ‘validated’ by the MCA Validation Tool even if the disclosures contained in it are not as per adopted financial statement of the company, and/or inappropriate usage of taxonomy elements, footnotes, text-block tagging, etc.

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XBRL: Financial Statement Tagging/Conversion

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XBRL Services

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XBRL Singapore

Cost-effectiveness is one of the perks that organizations can relish once you will hire the stellar services of XBRL Singapore which offer a convenient and reliable full-time accountant or bookkeeper that fits your need as a fiddle.

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“بيانات".. أداة فاعلة لتحليل المؤشرات المالية

المسار |  تُعدُّ منصة “بيانات” منصة رقمية تفاعلية تُعنى بتنظيم عمليات الإفصاح عن البيانات المالية وغير المالية للشركات المساهمة العامة وصناديق الاستثمارية المدرجة في بورصة مسقط وغيرها من الجهات. وأوضحت ميا بنت مسعود العيسرية مديرة دائرة الإفصاح والرقابة على التداول بهيئة الخدمات المالية أنَّ منصة ” بيانات” تمثّل أداة فاعلة لتحليل المؤشرات المالية بناءً على لغة “XBRL” العالمي لتوصيل المؤشرات…