This document discusses eXtensible Business Reporting Language (XBRL). It begins with an agenda for the presentation. It then defines XBRL as a global standard for digital business reporting that connects financial reporting to the internet. It highlights features like unique tags for financial data, cost savings, and improved analysis. The document discusses how XBRL benefits investors and analysts by providing context and making data more granular. It provides timelines of XBRL adoption in the US and India, including mandatory filings. Finally, it lists some taxonomies developed for business reporting in India.
This document provides an overview of XBRL and Volition LLP's XBRL services. It describes that Volition LLP is a management consulting firm that assists companies with IFRS conversion and XBRL services. It then defines what XBRL is, its benefits, and the scope of companies in India required to file financial statements in XBRL format. It includes screenshots of Volition LLP's XBRL software and mapping tools, an example of a final XBRL instance document, and contact information for Volition LLP's XBRL services.
The document discusses XBRL (eXtensible Business Reporting Language), which is a global standard for exchanging business and financial information. It defines XBRL as a metadata set that captures reporting concepts and relationships. The benefits of XBRL include improved access, analysis and transparency of financial information as well as reduced errors and redundancy. Chartered accountants have opportunities in XBRL implementation, auditing, training and outsourced data conversion work.
XBRL instance documents contain financial data and disclosures for a specific entity, reporting period, and currency. The document describes the key components of an XBRL instance document, including the root element, schema and taxonomy references, contexts, units, and items that contain the reported values defined in the taxonomy. Relationships between elements are defined using linkbases for presentation, calculation, dimensions, labels, and references.
Do you have to file returns in XBRL format for MCA, 2011?
Are you having a hard time:
Struggling with the Taxonomy
Choosing a Software?
Read this presentation for peace of mind.
XBRL OUTSOURCING SERVICES FORM 23AC/23ACA/COST AUDIT IN XBRL FORMATE CONVERSI...anish singh
We understand that as per this circular filing in the XBRL taxanomy has become applicable to your company. We offer XBRL Filing as an Outsourcing solution for you.
Using xbrl validation tool - XBRL Flash TutorialsAdarsh Xbrl
This tutorials teaches you how to use the XBRL Validation tool given by MCA (Ministry of Corporate Affairs).
This also gives details of saving errors, Converting XBRL instance documents to PDF.
This is not a stand alone tutorial but a part of series of XBRL Flash Tutorials by Adarsh XBRL. More such tutorials can be found at
xbrlforindiancablogspot.com
This service is all free of cost, as it is Sponsored by Madrecha & Co. (Chartered Accountants)
Preparation Of Financial Statements In Xbrl Formatguest962c2
The document provides instructions for preparing financial statements in XBRL format using ACRA FS Manager. It outlines the steps to create or load financial statements, enter company information, complete the statements and notes, and save the statements in XBRL format. Singapore companies must file financial statements in XBRL or partial XBRL format, with some exempted categories. ACRA FS Manager is a free online tool to help companies prepare and manage financial statements in XBRL.
This document provides an overview of XBRL and Volition LLP's XBRL services. It describes that Volition LLP is a management consulting firm that assists companies with IFRS conversion and XBRL services. It then defines what XBRL is, its benefits, and the scope of companies in India required to file financial statements in XBRL format. It includes screenshots of Volition LLP's XBRL software and mapping tools, an example of a final XBRL instance document, and contact information for Volition LLP's XBRL services.
The document discusses XBRL (eXtensible Business Reporting Language), which is a global standard for exchanging business and financial information. It defines XBRL as a metadata set that captures reporting concepts and relationships. The benefits of XBRL include improved access, analysis and transparency of financial information as well as reduced errors and redundancy. Chartered accountants have opportunities in XBRL implementation, auditing, training and outsourced data conversion work.
XBRL instance documents contain financial data and disclosures for a specific entity, reporting period, and currency. The document describes the key components of an XBRL instance document, including the root element, schema and taxonomy references, contexts, units, and items that contain the reported values defined in the taxonomy. Relationships between elements are defined using linkbases for presentation, calculation, dimensions, labels, and references.
Do you have to file returns in XBRL format for MCA, 2011?
Are you having a hard time:
Struggling with the Taxonomy
Choosing a Software?
Read this presentation for peace of mind.
XBRL OUTSOURCING SERVICES FORM 23AC/23ACA/COST AUDIT IN XBRL FORMATE CONVERSI...anish singh
We understand that as per this circular filing in the XBRL taxanomy has become applicable to your company. We offer XBRL Filing as an Outsourcing solution for you.
Using xbrl validation tool - XBRL Flash TutorialsAdarsh Xbrl
This tutorials teaches you how to use the XBRL Validation tool given by MCA (Ministry of Corporate Affairs).
This also gives details of saving errors, Converting XBRL instance documents to PDF.
This is not a stand alone tutorial but a part of series of XBRL Flash Tutorials by Adarsh XBRL. More such tutorials can be found at
xbrlforindiancablogspot.com
This service is all free of cost, as it is Sponsored by Madrecha & Co. (Chartered Accountants)
Preparation Of Financial Statements In Xbrl Formatguest962c2
The document provides instructions for preparing financial statements in XBRL format using ACRA FS Manager. It outlines the steps to create or load financial statements, enter company information, complete the statements and notes, and save the statements in XBRL format. Singapore companies must file financial statements in XBRL or partial XBRL format, with some exempted categories. ACRA FS Manager is a free online tool to help companies prepare and manage financial statements in XBRL.
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.
Semantic in finance presented by liv watson dec 8, 2011Workiva
The document summarizes a presentation about eXtensible Business Reporting Language (XBRL) given by Liv Watson from XBRL International. XBRL is a specification that builds on XML to allow for structuring of financial data sets and describing relationships between business concepts. It aims to increase efficiency, transparency and comparability in financial reporting. While XBRL adoption is growing, challenges remain regarding modeling financial information in XBRL taxonomies. Liv Watson has over 25 years of experience in bridging technology, accounting and business reporting and is a leader in the XBRL community.
XBRL Factor: Extensible Business Reporting Language is HereBusiness Wire
Still confused about XBRL? Not quite sure what the "X" factor is all about or when to extend? Join us for this session which should clear the air on these points as well as provide a briefing on the SEC requirements of XBRL--Extensible Business Reporting Language, which the SEC has mandated. We'll share the lessons learned from the first filers and offer tips on what you should be doing now.
The SEC's XBRL mandate, the mechanics of tagging, and the basics of XBRL taxonomy will be covered--and we'll leave plenty of time to answer your questions.
If you're responsible for the financial reporting of your company or work in investor relations or communications for a public company, you won't want to miss this FREE webinar.
This document discusses the benefits of using XBRL (eXtensible Business Reporting Language) for financial reporting. It notes that XBRL provides a common electronic format for business reporting, improves data quality through validation checks, and enables quick data analysis. The key benefits of XBRL include reducing costs by automating tasks, facilitating electronic information exchange, and shifting the focus to data analysis. Regulators, auditors, analysts and investors are among the main beneficiaries of XBRL data. The Ministry of Corporate Affairs in India has mandated that listed and large companies file financial statements in XBRL format.
This document discusses the benefits of using XBRL (eXtensible Business Reporting Language) for financial reporting. It notes that XBRL provides a common electronic format for business reporting, improves data quality through validation checks, and enables quick data analysis. The key benefits of XBRL include reducing costs by automating tasks, facilitating electronic information exchange, and shifting the focus to data analysis. Regulators, auditors, analysts and investors are among the main beneficiaries of XBRL data. The Ministry of Corporate Affairs in India has mandated that listed and large companies file financial statements in XBRL format.
This document discusses XBRL (eXtensible Business Reporting Language), which is a global standard for exchanging business and financial data. It defines XBRL as an XML-based specification that allows information modeling and semantic expression of data commonly required for business reporting. Taxonomies are dictionaries that define specific tags for data items. XBRL conversion involves linking financial statement items to taxonomy tags to create XBRL instance documents. Benefits include automated data processing, cost savings, and time savings for financial reporting and analysis. The legal framework in India requires certain large companies to file financial statements in XBRL format.
Xbrl the future of financial reporting by ca. nirmal ghorawatNirmal Ghorawat
This document provides an introduction to XBRL (eXtensible Business Reporting Language) and its benefits. It discusses that XBRL allows for automated processing of business information through tagging individual data items, reducing errors and manual work. XBRL development is led by XBRL International consortium. The document also notes that India has mandated filing of annual reports for specified companies using XBRL, and that XBRL adoption is growing worldwide for financial reporting.
1) XBRL (eXtensible Business Reporting Language) is a common global standard for exchanging business information that allows for the automated exchange and reliable extraction of financial information across all software formats and technologies.
2) XBRL reduces costs and enables quick information analysis by allowing tagged financial information to be transmitted in many formats and deployed with various analytical tools for users such as investors, financial publishers, auditors, regulators, and management.
3) XBRL works by defining a taxonomy or structure for financial data, then creating instance documents that tag financial statements and reports with that taxonomy so they can be read and analyzed by any software application using the same taxonomy definitions.
CaseWare is an integrated software solution that allows users to generate IFRS financial statements, consolidate reports, compute taxes, and create XBRL and iXBRL reports for financial and regulatory filings. It imports data, maps accounts, and outputs financial information while ensuring compliance, consistency, and accuracy. CaseWare also provides benefits like efficiency, control, compliance, consolidation, and electronic auditing through its automated data extraction and tagging features. Major implementations of XBRL, which CaseWare supports, include projects in countries like the Netherlands, Australia, the United States, Spain, and Singapore.
Xbrl for dummies slide deck chapter 1 23 10 2009 long versionWorkiva
1. Decreased costs of information exchange and reporting through increased automation and reduced manual processes.
2. Increased timeliness of sharing and analyzing information.
3. Improved quality and accuracy of information through validation rules and error checking.
4. Enhanced reusability of data through common definitions and structure.
5. Greater flexibility to adapt to reporting needs through a non-proprietary standard.
XBRL (eXtensible Business Reporting Language) is a standard for electronic communication of business and financial data that addresses issues with traditional manual financial reporting processes. It allows companies to produce reports more quickly and accurately according to a common global standard. XBRL works by applying standardized "tags" to each item in a financial report to identify what it represents and how it relates to other items, like barcodes. This allows for faster and more efficient retrieval and comparison of financial data.
Expectation for non_finance_xbrl_from_analysts_6Chie Mitsui
1) The speaker discusses challenges in extracting and analyzing non-financial information from corporate disclosure documents using XBRL tagging.
2) Case studies show issues like comparing forecasts over time, distinguishing disclosed vs undisclosed information, and representing non-standard data like product or geographic categories.
3) The speaker argues that designing XBRL taxonomies with user input could make non-financial analysis more efficient, and that further discussion is needed on describing non-financial data before widespread adoption.
The document discusses Singapore's transition to using XBRL (eXtensible Business Reporting Language) for collecting and distributing business financial reporting data. Key points include:
- All Singapore companies will be required to file financial statements in XBRL format starting in 2007, bringing efficiencies to financial data extraction and reporting.
- XBRL will transform business data collection by facilitating automated, standardized extraction and comparison of financial information from company filings.
- It will also transform data distribution by powering analytical tools that provide interactive, value-added access to company financials and industry trends for various stakeholders.
- Benefits include streamlining financial supply chains, facilitating regulatory work, and paving the way
Discover the wealth of accounting information packed into the US GAAP XBRL taxonomy. This PP will show you free ways to tap into the best available accounting reference service ever!
Value proposition for use of xbrl in the business reporting supply chain li...Workiva
XBRL provides a common platform for business reporting that can increase efficiency and reduce costs across the business reporting supply chain. It addresses long-standing problems with inconsistent labeling, analysis of information between applications, and human error. The value proposition whitepaper outlines how XBRL benefits various participants in the supply chain, including companies, investors, software vendors, and regulators.
This document provides an introduction to using XBRL (eXtensible Business Reporting Language) for financial reporting according to International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP). It explains what XBRL is, how it works, and the benefits it provides for the exchange of financial information. The document also outlines the contents of the book and conventions that will be used.
Xbrl conversion services blue consultingChandan Goyal
The document provides a detailed presentation on XBRL conversion services. It discusses the background of XBRL, the need for XBRL in business reporting, the MCA mandate requiring Indian companies to file financial reports in XBRL format, and the typical process involved in XBRL conversion including tagging requirements, review process, and factors considered in determining fees.
Sap Insider Webinar With Deloitte 10dec09 Finalbrigal99
- XBRL (eXtensible Business Reporting Language) is a standardized way to communicate business and financial data electronically using XML tags. It allows for automated retrieval and analysis of financial information.
- The SEC now requires most public companies to submit financial reports in XBRL format on a phased timeline between 2009-2011. This mandate aims to improve the efficiency, accuracy and usability of financial reporting.
- Early adopters faced challenges with the level of accounting judgment required, lack of guidance on tagging decisions, and potential lack of thorough reviews of XBRL filings leading to errors. Lessons indicate the need for registrants to closely oversee the XBRL filing process.
XBRL (eXtensible Business Reporting Language) is a freely available electronic language for financial reporting that provides an XML-based framework for creating, exchanging, and analyzing financial information. It allows companies to prepare financial statements digitally so that information can be rendered in multiple formats like printed reports, websites, and regulatory filings without reentry of data. The benefits of XBRL include more efficient financial reporting, automated analysis of data, and lower costs of preparing and distributing financial information.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
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.
Semantic in finance presented by liv watson dec 8, 2011Workiva
The document summarizes a presentation about eXtensible Business Reporting Language (XBRL) given by Liv Watson from XBRL International. XBRL is a specification that builds on XML to allow for structuring of financial data sets and describing relationships between business concepts. It aims to increase efficiency, transparency and comparability in financial reporting. While XBRL adoption is growing, challenges remain regarding modeling financial information in XBRL taxonomies. Liv Watson has over 25 years of experience in bridging technology, accounting and business reporting and is a leader in the XBRL community.
XBRL Factor: Extensible Business Reporting Language is HereBusiness Wire
Still confused about XBRL? Not quite sure what the "X" factor is all about or when to extend? Join us for this session which should clear the air on these points as well as provide a briefing on the SEC requirements of XBRL--Extensible Business Reporting Language, which the SEC has mandated. We'll share the lessons learned from the first filers and offer tips on what you should be doing now.
The SEC's XBRL mandate, the mechanics of tagging, and the basics of XBRL taxonomy will be covered--and we'll leave plenty of time to answer your questions.
If you're responsible for the financial reporting of your company or work in investor relations or communications for a public company, you won't want to miss this FREE webinar.
This document discusses the benefits of using XBRL (eXtensible Business Reporting Language) for financial reporting. It notes that XBRL provides a common electronic format for business reporting, improves data quality through validation checks, and enables quick data analysis. The key benefits of XBRL include reducing costs by automating tasks, facilitating electronic information exchange, and shifting the focus to data analysis. Regulators, auditors, analysts and investors are among the main beneficiaries of XBRL data. The Ministry of Corporate Affairs in India has mandated that listed and large companies file financial statements in XBRL format.
This document discusses the benefits of using XBRL (eXtensible Business Reporting Language) for financial reporting. It notes that XBRL provides a common electronic format for business reporting, improves data quality through validation checks, and enables quick data analysis. The key benefits of XBRL include reducing costs by automating tasks, facilitating electronic information exchange, and shifting the focus to data analysis. Regulators, auditors, analysts and investors are among the main beneficiaries of XBRL data. The Ministry of Corporate Affairs in India has mandated that listed and large companies file financial statements in XBRL format.
This document discusses XBRL (eXtensible Business Reporting Language), which is a global standard for exchanging business and financial data. It defines XBRL as an XML-based specification that allows information modeling and semantic expression of data commonly required for business reporting. Taxonomies are dictionaries that define specific tags for data items. XBRL conversion involves linking financial statement items to taxonomy tags to create XBRL instance documents. Benefits include automated data processing, cost savings, and time savings for financial reporting and analysis. The legal framework in India requires certain large companies to file financial statements in XBRL format.
Xbrl the future of financial reporting by ca. nirmal ghorawatNirmal Ghorawat
This document provides an introduction to XBRL (eXtensible Business Reporting Language) and its benefits. It discusses that XBRL allows for automated processing of business information through tagging individual data items, reducing errors and manual work. XBRL development is led by XBRL International consortium. The document also notes that India has mandated filing of annual reports for specified companies using XBRL, and that XBRL adoption is growing worldwide for financial reporting.
1) XBRL (eXtensible Business Reporting Language) is a common global standard for exchanging business information that allows for the automated exchange and reliable extraction of financial information across all software formats and technologies.
2) XBRL reduces costs and enables quick information analysis by allowing tagged financial information to be transmitted in many formats and deployed with various analytical tools for users such as investors, financial publishers, auditors, regulators, and management.
3) XBRL works by defining a taxonomy or structure for financial data, then creating instance documents that tag financial statements and reports with that taxonomy so they can be read and analyzed by any software application using the same taxonomy definitions.
CaseWare is an integrated software solution that allows users to generate IFRS financial statements, consolidate reports, compute taxes, and create XBRL and iXBRL reports for financial and regulatory filings. It imports data, maps accounts, and outputs financial information while ensuring compliance, consistency, and accuracy. CaseWare also provides benefits like efficiency, control, compliance, consolidation, and electronic auditing through its automated data extraction and tagging features. Major implementations of XBRL, which CaseWare supports, include projects in countries like the Netherlands, Australia, the United States, Spain, and Singapore.
Xbrl for dummies slide deck chapter 1 23 10 2009 long versionWorkiva
1. Decreased costs of information exchange and reporting through increased automation and reduced manual processes.
2. Increased timeliness of sharing and analyzing information.
3. Improved quality and accuracy of information through validation rules and error checking.
4. Enhanced reusability of data through common definitions and structure.
5. Greater flexibility to adapt to reporting needs through a non-proprietary standard.
XBRL (eXtensible Business Reporting Language) is a standard for electronic communication of business and financial data that addresses issues with traditional manual financial reporting processes. It allows companies to produce reports more quickly and accurately according to a common global standard. XBRL works by applying standardized "tags" to each item in a financial report to identify what it represents and how it relates to other items, like barcodes. This allows for faster and more efficient retrieval and comparison of financial data.
Expectation for non_finance_xbrl_from_analysts_6Chie Mitsui
1) The speaker discusses challenges in extracting and analyzing non-financial information from corporate disclosure documents using XBRL tagging.
2) Case studies show issues like comparing forecasts over time, distinguishing disclosed vs undisclosed information, and representing non-standard data like product or geographic categories.
3) The speaker argues that designing XBRL taxonomies with user input could make non-financial analysis more efficient, and that further discussion is needed on describing non-financial data before widespread adoption.
The document discusses Singapore's transition to using XBRL (eXtensible Business Reporting Language) for collecting and distributing business financial reporting data. Key points include:
- All Singapore companies will be required to file financial statements in XBRL format starting in 2007, bringing efficiencies to financial data extraction and reporting.
- XBRL will transform business data collection by facilitating automated, standardized extraction and comparison of financial information from company filings.
- It will also transform data distribution by powering analytical tools that provide interactive, value-added access to company financials and industry trends for various stakeholders.
- Benefits include streamlining financial supply chains, facilitating regulatory work, and paving the way
Discover the wealth of accounting information packed into the US GAAP XBRL taxonomy. This PP will show you free ways to tap into the best available accounting reference service ever!
Value proposition for use of xbrl in the business reporting supply chain li...Workiva
XBRL provides a common platform for business reporting that can increase efficiency and reduce costs across the business reporting supply chain. It addresses long-standing problems with inconsistent labeling, analysis of information between applications, and human error. The value proposition whitepaper outlines how XBRL benefits various participants in the supply chain, including companies, investors, software vendors, and regulators.
This document provides an introduction to using XBRL (eXtensible Business Reporting Language) for financial reporting according to International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP). It explains what XBRL is, how it works, and the benefits it provides for the exchange of financial information. The document also outlines the contents of the book and conventions that will be used.
Xbrl conversion services blue consultingChandan Goyal
The document provides a detailed presentation on XBRL conversion services. It discusses the background of XBRL, the need for XBRL in business reporting, the MCA mandate requiring Indian companies to file financial reports in XBRL format, and the typical process involved in XBRL conversion including tagging requirements, review process, and factors considered in determining fees.
Sap Insider Webinar With Deloitte 10dec09 Finalbrigal99
- XBRL (eXtensible Business Reporting Language) is a standardized way to communicate business and financial data electronically using XML tags. It allows for automated retrieval and analysis of financial information.
- The SEC now requires most public companies to submit financial reports in XBRL format on a phased timeline between 2009-2011. This mandate aims to improve the efficiency, accuracy and usability of financial reporting.
- Early adopters faced challenges with the level of accounting judgment required, lack of guidance on tagging decisions, and potential lack of thorough reviews of XBRL filings leading to errors. Lessons indicate the need for registrants to closely oversee the XBRL filing process.
XBRL (eXtensible Business Reporting Language) is a freely available electronic language for financial reporting that provides an XML-based framework for creating, exchanging, and analyzing financial information. It allows companies to prepare financial statements digitally so that information can be rendered in multiple formats like printed reports, websites, and regulatory filings without reentry of data. The benefits of XBRL include more efficient financial reporting, automated analysis of data, and lower costs of preparing and distributing financial information.
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
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The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
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B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
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Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
1. eXtensible Business Reporting Language
Presented by:
Group - 1
Members:
Bishnu Panda
Kailash Gupta
Kalyan Kumar Das
Subhasish Das
5/30/2012 Praxis Business School 1
2. Agenda
XBRL – What it is?
Features of XBRL
XBRL for investors and analysts
XBRL events and market size in US
XBRL events in India
5/30/2012 Praxis Business School 2
3. What is XBRL?
• XBRL (eXtensible Business Reporting Language) is a freely available, open and global standard which
supports information modeling, exchanging business information and the expression of semantic
meaning commonly required in business reporting.
• Global Standard for digital reporting.
• It connects the generation, exchange and consumption of business reports with the dynamic and
interactive world of the internet.
• XBRL enhances the quality and efficiency of reports, for internal use or for external
publication, reusing business and financial information.
• XBRL is based on XML (eXtensible Markup Language) developed by XBRL International, a non profit
consortium with over 650 companies and agencies working together.
• XBRL uses related XML technologies such as XML Schema, XLink, XPath, and Namespaces.
• XBRL consists of financial facts and a set of taxonomies defining dependencies of such facts.
• XBRL Taxonomies are the vocabularies or dictionaries which the language uses.
• XBRL has a set of standard validation rules containing formulas for validating values.
5/30/2012 Praxis Business School 3
4. 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
Benefits: Applications:
• Better business reporting and analysis.
• Tax Returns
• Cost saving and faster
• Bank Call Reports
• More reliable and more accurate handling of data,
• Financial Statements
• Improved analysis for better quality of information and decision-making.
• General Ledger
• Avoids time-consuming manual comparison and re-entry of data.
• Event Reporting
• Internet Ready for transmission and direct use by all stake holders
• Audit Schedules
• Improvement in the speed of collating and analysing data
• Early users of XBRL included regulators viz. the U.S. Federal Deposit Insurance Corporation, the
Australian Prudential Regulatory Agency (APRA) and the Committee of European Banking Supervisors
(CEBS).
5/30/2012 Praxis Business School 4
5. XBRL for investors and analysts
• Packages explanatory contextual information around each data point
• Makes data more granular, more extractable
• Improve the accuracy, quality and transparency of corporate
information
• Provides a common framework of definitions
• Enables easier comparison of multiple companies
• Reduces reliance on normalized data
• Improve the accuracy/quality of financial information in the
marketplace
• Reduce errors in the information reported
• Improve the ability to compare and benchmark one’s financials
with peer companies
5/30/2012 Praxis Business School 5
6. XBRL events and market size in US
Events: XBRL for Business Reporting in US:
XBRL effort started in 1998 by Charles Hoffman • XBRL for G/L Journal Entry Reporting
↓ • XBRL for Financial Statements
XBRL 2.0 – December 2001
• XBRL for Regulatory Filings
↓
• XBRL for Business Events Reporting
XBRL 2.1 – December 2003
↓
• XBRL for Audit Schedules
FDIC XBRL Contract Awarded – June 2003 • XBRL for Credit Filings
↓
SEC Solicits Market Feedback – July 2004
↓
Voluntary XBRL reporting (100 companies) – 2008 US XBRL market size:
↓
Mandatory XBRL filing for 500 Public Companies
NASDAQ: ~ 3,200 Public Companies
(<$5 billions) – June 2009
NYSE: ~ 2,800 Public Companies
↓
Mandatory XBRL filing for other big public companies (list
TOTAL: ~ 6,000 Public Companies
of companies to be announced) – June 2010
↓
Mandatory XBRL filing for all US public companies - June
2011
7. XBRL events in India
Events: Fairly broad-based participation from various sectors:
XBRL effort started in Jan 2007 by ICAI
↓
Formation of XBRL group with an objective of establishing
forum for development of XBRL in India including its
promotion and to act as general body of membership of XBRL
India jurisdiction of XBRL International
↓
Carrying the task of XBRL in India forward, the XBRL Group
established the XBRL India jurisdiction of XBRL International
in Dec 2008
↓
XBRL India was awarded the status of an “Established
jurisdiction” capable of having a representative of India at the
International Steering Committee (ISC), the governing body Taxonomies:
of XBRL International in Dec 2010 • General purpose taxonomy called Commercial and
↓ Industrial Taxonomy based on IFRS 2006
On 31 March 2011, MCA issued a Circular mandating all listed architecture.
companies and certain unlisted companies, to file their • Banking Taxonomy, an extension to the core Indian
financial statements for the year ended 31 March 2011 XBRL C&I Taxonomy.
onward using an XBRL format. • Taxonomies for NBFCs, Insurance & Power Sectors
– in process.
5/30/2012 Praxis Business School 7
XBRL India’ is a company registered under section 25 of Companies Act, 1956. The company is facilitated by ICAI, incorporated for managing the affairs of Indian Jurisdiction of XBRL International. In the initial phase, the MCA mandate applies to:• All companies listed in India and their subsidiaries, including overseas subsidiaries• All companies having a paid up capital of INR 5 crore or above, or a turnover of INR 100 crores or aboveThe main objectives of the XBRL India jurisdiction:Promote and encourage the adoption of XBRL as the standard for electronic business reporting in IndiaDevelop and manage XBRL taxonomiesRepresent Indian interests within XBRL InternationalContribute to the international development of XBRLCurrently Available Products Automatic XBRL Filing XBRL Reverse Engineering Wizard XBRL Validator Instant XBRL Filing Editing Evolutionary TaggerC & I Taxonomy:This taxonomy was developed through a due consultative process where the Industry experts reviewed the draft taxonomy, thereafter it was exposed in the public domain for comments. After finalisation on the basis of comments, the taxonomy was acknowledged by XBRL International. This taxonomy has been developed to enable companies prepare their financial statements, viz., Profit and Loss Statement, Balance Sheet and Cash Flow Statement in XBRL format, based on the requirements of the accounting standards, Indian company law and the requirements under Clause 41 of the Listing Agreement. Components of Taxonomy:Schema – Defines the elements used in the link basesPresentation link base – Which defines the structure for displaying the data, along with the preferred label attribute.Calculation link base – Establishes the arithmetical relationship of simple addition and subtraction, which is done by way of a weight attribute (1 or -1)Label link base – Stores the labels about the concepts (it is the human readable name of the element)