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XBRL WORKSHOP

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Xbrl slideshare

  1. 1. XBRLExtensible Business ReportingLanguage M S Godbole & Co Chartered Accountants
  2. 2. IntroductionXBRL is a world-wide standard, developed by aninternational, non-profit-making consortium, XBRLInternational Inc. It is made up members, includinggovernment agencies, accounting firms, softwarecompanies, academics and business reporting expertsfrom worldwide. It has agreed the basic specificationswhich define how XBRL works.
  3. 3. Why use XBRL?Provides a database-like structure, using text filesDefines a collection of financial facts for a specific report,industry, and jurisdiction (taxonomy)Facilitates the data exchange between proprietary systemsPromotes the re-use of data with far less effort
  4. 4. Meta DataMetadata is defined as data providing information about oneor more aspects of the data, such as:Means of creation of the dataPurpose of the dataTime and date of creationCreator of dataPlacement on a computer network where the data was created
  5. 5. Meta-Data Repository Dictionaries XBRL Schemas System Specifications Concept Definitions & Presentation Meta Data Access Rules Data Reporting Instructions Business Rules Quality Assurance
  6. 6. Schemas:Standard data naming conventionMicro Data Reference ManualStandard used for all data seriesStandard customer informationNational Information CenterStandard customer IDBegin and End dates - Version
  7. 7. XBRL Concepts:XBRL is an extension of XMLIt is a set of files referred to as an XBRL frameworkFor Example:Validation CriteriaReport InstructionsBusiness RulesPresentationMicro Data Reference ManualConsists of XML files and XSD files (XML Schema Definition)Utilizes the concept of link bases which provides the ability to link XML files together
  8. 8. Tags:Computers can treat information that has been tagged usingXBRL ‘intelligently’; they can recognize, process, store,exchange and analyze it automatically using software.As XBRL tags are formed in a universally accepted way, theycan be read and processed by any computer that has XBRLsoftware. XBRL tags are defined and organized usingcategorization schemes called taxonomies.
  9. 9. XBRL Detail Concepts:XBRL TaxonomiesDefines a set of business report concepts that can be used in the exchange of financial Micro information. The concept types data reference manual are further defined in an XSD file.
  10. 10. XBRL Detail Concepts:InstructionsInstructions can be associated with each XBRL tag element that is defined.<Instructions> <Instruction tag=”Name”> Enter the business name </Instruction> <Instruction tag=”Revenue”> Enter the revenue for the current period </Instruction> <Instruction tag=”Expense”> Enter the expense for the current period </Instruction></Instructions>
  11. 11. XBRL Detail Concepts:Business RulesBusiness Rules can be defined for business reports and forms by using a syntax language that refers to XBRL tags and predefined functions. Examples of functions, validations, or
  12. 12. XBRL Detail Concepts:Instance filesInstance files contain data for a business form or report.<InstanceData> <Data tag=”Name”
  13. 13. Transport Mechanism:Web ServicesSOAP -Simple Object Access ProtocolIt is simple XML-based protocol to let applications exchange information over HTTP.WSDL - Web Services Description LanguageWSDL is a document written in XML. The document describes a Web service. It specifies the location of the service and the operations (or methods) the service exposesSecurityWS-I
  14. 14. System Requirement:Dual Screens (min. resolution 1024 x 768)Minimum of 4 GB RAM 80 GB Hard Disk SpaceWindows Operating System (XP, Vista, 7 or above)Microsoft Office.NET Framework 3.5Compact 3.5.1JDK (Java Development Kit) 1.5 or above
  15. 15. MCA Mandate:Which accounting principles are used- -IGAAPPublic Float exceeding Rs 5 cr (Paid up Capital)Turnover exceeding Rs 100 Cr Listed entities on NSE and BSE and their Indian Subsidiaries Detail tagging : No grace period - 31st December 2011.
  16. 16. Taxonomy Overview:Taxonomy tailored to MCA Reporting RequirementsMulti dimensional in nature and template basedinformation captureTaxonomies enable computers with XBRL software to:understand what the tag is (e.g. whether it is amonetary item, a percentage or text);what characteristics the tag has (e.g. if it has a negativevalue);its relationship to other items (e.g. if it is part of acalculation).
  17. 17. ICAI Taxonomy Structure:Industry-based classificationCommercial and Industrial companiesBanking companiesNon-Banking Financial companiesPower companiesInsurance companiesCore SchemaExhaustive list of all element declarationsCommon elements defined onceDistinct extended links for each industry
  18. 18. Data Model Issues:Notes to accounts information is largely tabular and therefore isMulti-dimensional dataData points having similar attributes
  19. 19. Methodology:Automated ExtractionPatch to existing SoftwareService Providers – Conversion of data into XBRL format
  20. 20. Click to edit Master text stylesSecond level ● Third level ● Fourth level ● Fifth level
  21. 21. Click to edit Master text stylesSecond level ● Third level ● Fourth level ● Fifth level
  22. 22. Click to edit Master text stylesSecond level ● Third level ● Fourth level ● Fifth level
  23. 23. Click to edit Master text stylesSecond level ● Third level ● Fourth level ● Fifth level
  24. 24. Taxonomy categorizationCompany InformationFinancial InformationDisclosuresNotes
  25. 25. Taxonomy categorizationCompany InformationName CIN PAN Consolidated / Standalone Reporting Period Reporting Authority Address Industry Type
  26. 26. Taxonomy categorizationFinancial InformationSourcesAndApplicationOfFundsTotalAssetsLiabilitiesScheduleShareCapitalScheduleReservesAndSurplusScheduleFixedAssetsScheduleFixedAssetsNetGrossClassificationScheduleInvestments
  27. 27. Taxonomy categorizationDisclosuresDisclosuresAuditorsReportDisclosuresDirectorsReportDisclosuresSignatoriesOfBalanceSheet
  28. 28. Taxonomy Categorization:Notes NotesAccountingPoliciesAndBasisOfPresentation NotesChangesInAccountingPoliciesAndEstimates NotesPriorPeriodAndExtraordinaryItemsNotesForeignExchangeTransactions NotesSegmentReporting Notes NotesRelatedParties NotesEarningsPerShare NotesSubsidiaryInformation NotesInvestmentsInAssociates
  29. 29. General Features1.Validation –Mandatory , Data , Business rules2. Parent and child3. Footnotes4. Tuples - Tuples are type of elements which havemultiple values for a given
  30. 30. Practical IssuesRounding off Shareholding PatternMultiple Tuples Subsidiary and Related partiesFixed Assets Schedule Difference in totalsActual figures of amountError Management – Ticket with MCA
  31. 31. Agenda:IntroductionClient caseMCA mandateClient requestApproach
  32. 32. Client Case:ABC Company listed on BSE / NSEIndian GaapPublic Float > 5 crYear End 31/03
  33. 33. Steps for e Filing of XBRL documents:1. Creation of XBRL instance document2. Download XBRL validation tool3. Load the instance document4. Validate the instance document5. Pre-scrutiny of the instance document6. Convert to pdf and verify the contents of the instance document.7. Attach instance document to the Form 23AC-XBRL and Form 23ACA-XBRL8. Submitting the Form 23AC-XBRL and Form 23ACAXBRL onthe MCA portal
  34. 34. ThanksMandar S GodboleBCOM,FCA,DISA,IFRS (ICAI)camsgodbole@gmail.com

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