XBRL (eXtensible Business Reporting Language) is a language for electronic communication of business and financial data that provides benefits of cost savings, efficiency and improved accuracy. It applies to listed companies in India with a market capitalization over $5 billion. XBRL was developed in 1998 and its use became mandatory for US public companies in 2011. It can format both financial and non-financial data using unique tags and has benefits like better analysis, cost savings, and avoiding manual data entry. Taxonomies define reporting elements and their relationships, and companies generate valid XBRL documents by mapping their reports to the taxonomy elements.

1. EVOLUTION AND FEATURES OF
eXtensible Business Reorting Language
Osamah Almaamari
SECIOND SEMESTAR
2017/2018

2. What is XBRL?
• XBRL stands for eXtensible Business Reporting Language
• Language for the electronic communication of business
and financial data.
• Provides major benefits in the preparation, analysis and
communication of business information.
• Offers cost savings, greater efficiency and improved
accuracy and reliability to all those involved in
supplying or using financial data.
• Being put to practical use in a number of countries.

3. Who is it applicable for?
Following class of companies have to file the
Financial Statements in XBRL Form from the
year 2010-2011:
• All companies listed in India and their
subsidiaries, including overseas subsidiaries.
• All companies having a paid up capital of Rs.
5 Crore and above or a Turnover of Rs 100
crore or abover.

4. XBRL events in India
XBRL effort started in 1998 by Charles Hoffman
↓
XBRL 2.0 – December 2001
↓
XBRL 2.1 – December 2003
↓
FDIC XBRL Contract Awarded – June 2003
↓
SEC Solicits Market Feedback – July 2004
↓
Voluntary XBRL reporting (100 companies) – 2008

5. Cont…
Mandatory XBRL filing for 500 Public
Companies (<$5 billions) – June 2009
↓
Mandatory XBRL filing for other big public
companies (list of companies to be
announced) – June 2010
↓
Mandatory XBRL filing for all US public
companies - June 2011

6. Features
XBRL formatting can be done for financial and
non-financial data:
• Unique identifying tags are applied to
financial statements.
• Supplier data
• Customer application forms
• Project information
• Employee data
• Regulatory submissions
• Other management information systems data

7. Benefits
• Better business reporting and analysis.
• Cost saving and faster.
• More reliable and more accurate handling of
data.
• Improved analysis for better quality of
information and decision-making.
• Avoids time-consuming manual comparison and
re-entry of data.
• Internet Ready for transmission and direct use by
all stake holders.
• Improvement in the speed of collating and
analysing data.

8. Taxonomies
• General purpose taxonomy called
Commercial and Industrial Taxonomy
based on IFRS 2006 architecture.
• Banking Taxonomy, an extension to the
core Indian XBRLC&I Taxonomy.
• Taxonomies for NBFCs, Insurance &
Power Sectors – in process.

9. How does XBRL works?
• XBRL makes the data readable, with the help of two
documents – Taxonomy and Instance Document.
• Taxonomy defines the elements and their relationships
based on the regulatory requirements.
• Using the taxonomy prescribed by the regulators,
companies need to map their reports, and generate a
valid XBRL instance document.
• Mapping is a process for matching the concepts as
reported by the company to the corresponding element
in the taxonomy.