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XBRL form of filing has been made mandatory Listed Companies, their subsidiaries and companies with more than 100 crores turnover have or 5 crores of paidup share capital.

The presentation explains about XBRL and how we can help you file this?

Published in: Business, Economy & Finance
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  1. 1. <ul><li>BY A. P. DOSHI & CO </li></ul><ul><li>CHARTERED ACCOUNTANTS </li></ul>Understanding XBRL A.P.Doshi & Co., Chartered Accountants A.P.Doshi & Co., Chartered Accountants
  2. 2. What is XBRL? Who all are covered? <ul><li>XBRL (e X tensible  B usiness  R eporting  L anguage) is a language for electronic communication of business and financial data which is revolutionising business reporting around the world. </li></ul><ul><li>It offers major benefits to all those who have to create, transmit, use or analyse such information. </li></ul><ul><li>In initial phase XBRL format reporting is has been made mandatory for: </li></ul><ul><ul><li>All companies listed in India and their subsidiaries, including overseas subsidiaries </li></ul></ul><ul><ul><li>All companies having a </li></ul></ul><ul><ul><ul><li>paid up capital of INR 5 crores or above, </li></ul></ul></ul><ul><ul><ul><li>OR a turnover of INR 100 crores or above </li></ul></ul></ul>A.P.Doshi & Co., Chartered Accountants A.P.Doshi & Co., Chartered Accountants
  3. 3. Due Date of Filing of Balance Sheet and Profit and Loss Account in XBRL mode. <ul><li>All companies which are required to file Balance Sheet and Profit and Loss Account in XBRL Format are permitted to file upto 30/11/2011 or within 60 days of their due date which ever is later without any additional fee. </li></ul><ul><li>**The due date for filing of the Annual Returns is 30 days from the date of the AGM. </li></ul>A.P.Doshi & Co., Chartered Accountants
  4. 4. How can APD help? <ul><li>End to End solutions – IT expertise along with Accounting experience & skill sets </li></ul><ul><li>We shall work closely / harmoniously with your existing advisors </li></ul><ul><li>Close liaison with the software providers </li></ul><ul><li>Minimum response time on issues </li></ul><ul><li>More Personalized - Practical suggestive approach, Not a theoretical and Consultative one </li></ul><ul><li>Shall be happy to mentor inhouse teams for XBRL in forthcoming period </li></ul><ul><li>Complication dependent Competitive pricing </li></ul>A.P.Doshi & Co., Chartered Accountants A.P.Doshi & Co., Chartered Accountants
  5. 5. APD’s Credentials for XBRL Solution <ul><li>APD’s into Company Law Consultation since last more than 20 years, having handled more than 100 listed and closely held corporate entities </li></ul><ul><li>APD’s Company Law team had pioneered in handling all efiling initiatives since they were introduced </li></ul><ul><li>Our XBRL team has wide experience in India-specific financial reporting and accounting </li></ul><ul><li>In-house handling of all client data – all tagging </li></ul><ul><li>Secure transfer of data and strict confidentiality maintained with regards to all information </li></ul><ul><li>MCA Specific validation requirements are incorporated in our methodology </li></ul><ul><li>Output of XBRL instance shall be provided both in machine readable and human readable format, so that the company shall review the final document before uploading to the MCA’s e-21 portal </li></ul>A.P.Doshi & Co., Chartered Accountants A.P. Doshi & Co., Chartered Accountants
  6. 6. XBRL Excel A.P.Doshi & Co., Chartered Accountants
  7. 7. A.P.Doshi & Co., Chartered Accountants Workflow for XBRL Managed Tagging Services A.P.Doshi & Co., Chartered Accountants
  8. 8. Creating XBRL Filings for SEC A.P.Doshi & Co., Chartered Accountants Company Report US GAAP Taxonomy Map Taxonomy Tags with Line Items Create New Tags <ul><li>15,000+ Elements </li></ul>Create company specific relationships Company Instance Document Validation <ul><li>XBRL 2.1 Validations </li></ul><ul><li>SEC Edgar Manual </li></ul><ul><li>Validations </li></ul>Final Document for Submission Company Taxonomy
  9. 9. Latest update on XBRL as on 24th August 2011 <ul><li>MCA had launched updated taxonomy (along with list of changes). Accordingly, the business rules and MCA Validation Tool is also being aligned to the revised taxonomy. The validation tool would be ready for filing XBRL documents by the companies very soon. </li></ul><ul><li>Filing of XBRL documents on MCA would be enabled by 07.09.2011 </li></ul>A.P.Doshi & Co., Chartered Accountants
  10. 10. A.P.Doshi & Co., Chartered Accountants A. P. Doshi & Co., Chartered Accountants Contact us: Particulars Address Phone Nos. Fax email id Mumbai Office 201 - Bhaveshwar Complex, Opp. Railway Station, Vidyavihar West. Mumbai +91-22-25146854/55 +91-22-40111498 [email_address] Roha Office 101 - Landscape, Sevadal Aali, Dhavir Chawk, Roha, Raigad - 402109 +91-9145161552   Website: Our Blog: SMS google channel “ON APD TaxAlerts” on 9870807070