XBRL is a standardized language used to communicate business and financial data. It provides benefits like cost savings, greater efficiency and improved accuracy. XBRL documents filed by companies should include information from their annual reports like the balance sheet, profit and loss statement, cash flow statement, and notes to accounts. Applicable companies are those listed in India, their subsidiaries, and companies with a paid up capital over Rs. 5 Crore or turnover over Rs. 100 crore. XBRL works by using a taxonomy to define reporting elements, which companies then use to generate a valid XBRL instance document mapping their financial data.

1. XBRL Overview

2. What is XBRL? XBRL stands for eXtensible Business Reporting LanguageLanguage 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. What does it contain?XBRL documents filed by the companies should include the following information reported by the companies as per the existing provisions of law -Information disclosed in the following sections of the Annual Report :Balance SheetProfit and Loss StatementCash Flow StatementSchedules related to Balance Sheet and Profit and Loss StatementNotes to AccountsStatement pursuant to Section 212 of the Companies Act, 1956 relating to subsidiary companiesDisclosures specific to MCA requirements

4. 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 subsidiariesAll companies having a paid up capital of Rs. 5 Crore and above or a Turnover of Rs 100 crore or above

5. Advantages of XBRLOffers major benefits at all stages of business reporting and analysis. Benefits are seen in automation, cost saving, faster, more reliable and more accurate handling of data, improved analysis and in better quality of information and decision making.Switch resources away from costly manual processesConcentrate effort on analysis, aided by software which can validate and process XBRL information.

6. Benefits for a companyIncreases the usability of financial statement information. Need to re-key financial data for analytical and other purposes can be eliminated. By presenting its statements in XBRL, a company can benefit investors and other stakeholders andenhance its profile. Meet the requirements of regulators, lenders and others consumers of financial information, who are increasingly demanding reporting in XBRL.

7. Benefits (continued…)With full adoption of XBRL, companies can automate data collection. For example, data from different company divisions with different accounting systems can be assembled quickly, cheaply and efficiently.Reports using varying subsets of the data can be produced with minimum effort. A company finance division, for example, could quickly and reliably generate internal management reports, financial statements for publication, tax and other regulatory filings, as well as credit reports for lenders.

8. How does XBRL work?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.

9. How do companies create statements in XBRL?Use XBRL-aware accounting software products which support the export of data in XBRL form. These tools allow users to map charts of accounts and other structures to XBRL tags.Use third party products which connect to the accounting system to achieve the transformation of the data to XBRL.Use third party service by submitting the financial statements to them

10. How Partner can help?MAIA Partners provide XBRL solution in the form of:PostXBRL software from MAIA Intelligence – a software product that can be installed in your premises and create XBRL reports after appropriate mapping.XBRL service – clients can submit their financial statements in appropriate digital format and partner will convert them into XBRL reports

11. postXBRL Software

12. Facts for an XBRL Report

14. Master Page of Common Task

15. 1.On the click of My Desk it will display company wise header data of the XBRL reports.

16. Change Password

17. 1. This will be used to create Company, Context, Currency, Precision and Language master.

18. This list all the company details.

20. This list all the context details.

22. 1.This is used to delete the selected currency.

24. This list all the precision details.

26. Taxonomy Master

27. List all the created XBRL Instance.

28. Fill Data  New Instance

29. Select schema file(.xsd).

30. Generate XBRL File.The data will be displayed as per the selected role.

31. Edit /Add value

32. Select schema file(.xsd).

33. Import Excel File

34. The data will be displayed as per the selected role.

35. Tagged Data

36. Tagged Data

39. XBRL Reports

40. Business Report

43. Hardware / Software SpecificationHard Disk – 40 GBRAM – 1 GBProcessor – Dual CoreOperating System – Windows 7 or XPMeta Data – SQL 2008MS Dot Net Framework – 3.5MS Office – 2003 or aboveBrowser – IE 6.0 or above

44. THANK YOU