XBRL (eXtensible Business Reporting Language) is an open standard for electronic communication of business and financial data, using XML. It allows companies to store and efficiently publish financial reports by facilitating the preparation, analysis and exchange of business information between organizations. The document outlines the requirements for Indian companies to file financial statements in XBRL format with regulatory authorities like the Ministry of Corporate Affairs.

1. eXtensiable Business Reporting Language
By: Divyashree

2.  Language for electronic
communication.
 Family of XML.
 Open standard, free of licence
fees.
 Implementation of XBRL are
growing.

3.  All listed companies in India and
their Indian subsidiaries
OR
 All companies having Paid up capital
of Rs.5 crore and above
OR
 All companies having turnover of
Rs.100 crore and above .

4.  Banking companies,
 Insurance companies,
 Power Companies
 Non-banking Financial
Companies(NBFCs)

5. Indian Foreign
Indian Foreign Subsidiary Subsidiary
Subsidiary Subsidiary
Stand alone Stand alone No need to
Attach PDF B/s- attach PDF
B/s-
file Compulsory file
Compulsory

6. Ex : 1
A pvt ltd , having
Turnover – 155 crore
Paid up capital – 4 crore
Ans:
Ex : 2
X a listed company
Paid up capital-4.5 crore
Turnover- 78 crore
Ans:

7. Ex : Y Pvt ltd
Turnover: 57 crore
Paid up capital: 4.5 crore
Management wishes to report under XBRL
Ans:
Ex : Electricity company
Management wishes to report under XBRL.
Ans:

8. 30th November 60 days of THEIR
2011 DUE DATE
Which ever is later

9. Date of AGM: 15th August 2011
Due date is:
15/08/11 30 days 15/09/11 60 days 15/11/11(a)
OR
30/11/11(b)
Which ever is later (a or b)
So due date is 30/11/2011

10. Date of AGM: 25th September, 2011
Due date is:
25/09/11 30 days 25/10/11 60 days 25/12/11(a)
OR
30/11/11(b)
Which ever is later (a or b)
So due date is 30/12/2011

11.  Developed by XBRL International
 XBRL India- A Indian jurisdiction of XBRL
International
 Members of XBRL India
- Regulators
-Stock Exchange
-Software Companies
 Registered u/s 25
 Manages affairs of Indian jurisdiction of XBRL
International.

12. XBRL Documents
Instance
Taxonomy Document

13.  Dictionary
 Electronic description
 Regulated by requirements and standards
 Country specific
 Developed for Indian Companies on basis of
-Schedule VI of Companies act
-Accounting Standards, issued by ICAI
-SEBI listing Requirements

14.  Elements defined – are referred as
“XBRL Tags”
 Taxonomy and instance document is
collection of tags
 Enables the computer to understand
XBRL instance and taxonomy

15. XBRL tag on “Employee Benefits expense”
Represents
1. Fact
2. Name of entity
3. Period
4. Meaning
5. Accounting reference
6. Scalar Factor
7. Unit

16.  Business report in electronic
format
 Linked
 Contains Facts with their values
 Explanation to the contexts which
they are placed

17.  Facts means values included with
corresponding concepts in taxonomy
 The facts – numeric or non numeric
Ex:
Concept Fact
Tangible Assets 5000
Name of subsidiary X Ltd
Date of Board meeting 2011-05-30

19. Without XBRL …
Average Time for Updating Financial Information—11 days
Value-added Analysis and Decision-making?
90% time spent on Mechanics 10%
With XBRL …
Average Time for Updating Financial Information—1 days
Mechanics More Time for AnalysisXBRL? Analysis => Less Risk
With => Better

20.  Time and Cost saving
 Flexibility
 Enhances usability of Financial Statements
 Transparency
 Multiple language Capacity

21.  Balance sheet
 Profit and loss statement
 Cash flow statement
 Schedules relating to Balance sheet and Profit and
loss statements
 Notes to accounts
 Statement pursuant to Section 212 of the Companies
Act.
 Disclosure specific to MCA requirements
-Directors report
-Auditors report
-Signatories to Balance Sheet
General Information about the company

22.  Step 1: Start with financial statements
 Step 2: Map each item of Financial statements
with corresponding element in Published
Taxonomy
 Step 3: Create instance document
 Step 4: Review and verify the instance
document
 Step5: Download XBRL validation tool
 Step6: Use tool to validate instance
documents

23.  Step 7: Perform pre-scrutiny of validated
instance documents
 Step 8: Attach instance documents
 Step 9: Submitting form 23AC AND 23ACA