XBRL - Features and Fundamental

1. XBRL - Features and
Fundamental
Presented by:
NIDHISHREE JAIN S D
1st M.Com
Under the guidance of
Sundar B. N.
Asst. Prof. & Course Co-ordinator
GFGCW, PG Studies in Commerce
Holenarasipura

3. XBRL is the business reporting
standard it’s used by millions of
business to prepare validate and
submit actionable business reports to
regulations government agencies and
business partners.

4. XBRL FUNDAMENTAL
XBRL Means : XBRL (eXtensible Business Reporting
Language is an open standard mark up language
optimised for business information, including but not
limited to financial and accounting information.
It is a variant of XML (eXtensible Markup language) and
adopts the same syntax and related technologies (XML
scheme, XLink). XBRL is the optimisation of XML to
represent business and financial data.

5. Origins of XBRL :
XBRL technology arose from the need for more
reliable and timely financial and other business related
data to be reported to multiple and varied regulatory
bodies and company stakeholders. Exiting processes
and technology created the following issues:
• Duplicated and frequency inconsistent validation
methods
• Error – prone and slow manual data collection for
analysis
• Introduction of errors as data are transferred along
the reporting chain

6. Understanding XBRL
Fundamentals
A concept is the basic building block of taxonomies
(concepts are sometimes referred to as “elements”,
although element is strictly speaking an XML term).
For example, a concept might be “asset” or “income”.
A taxonomy contains the definitions of the concepts,
the human labels and descriptions associated with
them and the interrelationships between concepts. It
holds a collection of metadata describing reporting
rules and the resources related to concepts/data
elements (e.g. types of data validation and
aggregation rules, presentation structures and data

7. Features of XBRL:
1. Integration with MCA:
•Seamless integration with MCA Website.
•Fetch updated info from MCA Website by entering the DIN or CIN.
2. Excel Import-Export:
•Simple import-export functionality through excel templates
•Download Excel templates with or without data
3. Interlinking:
•Details furnished in one field is auto-populated in all related fields
•Get step-by-step guidance to prepare and file the financial statement

8. 4. Audit Trails:
•Attach working papers in support of any field
•Place footnotes or sticky notes in any field
5. Auto Calculation:
•Auto calculate the fields in groups and sub-groups
•Get complete detail about any field by clicking on it, i.e., connected field,
description, type, validation, definition, Hindi translation, etc.
6. Simplified work flow:
•Powerful dashboard to assists you in searching and controlling the
clients
•Search companies on CIN, Name of company, PAN, etc.

9. CONCLUSION :
• Extensive business benefits are
available form adopting the World -
wide standard for electronic business
reporting.
• XBRL provides a standard design off
XML document for business reporting.
• XBRL enjoys extensive support and is
open.

10. REFERENCE :