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XBRL & Revised Schedule VI


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Training programme on XBRL and Revised Schedule VI

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XBRL & Revised Schedule VI

  1. 1. & Revised Schedule VI
  2. 2.  XBRL is a language for electronic communication of business and financial information between business and over internet XBRL stands for eXtensible Business Reporting Language It is one of the family of "XML" languages It is an open standard, free from any licence fees It is software independent Revised Schedule VI is a New Format of Balance Sheet & P&L Mandatory by MCA. Revised Schedule VI is to be applicable to all Companies
  3. 3.  XBRL is being developed by XBRL International Inc., an international non-profit consortium of approximately 450 major companies, Accounting Firms, IT Companies, Regulatory Bodies, Government Agencies etc.  XBRL is already being put to practical use in USA, UK, China, Japan, Singapore, France, Belgium, Netherlands, Australia etc. India has just embarked upon this global standard for business & financial reporting through initiative of MCA 21 filing
  4. 4.  Major benefits at all stages of business reporting & analysis Automation, cost savings, faster, more reliable & more accurate handling of data Allows for processing & checking of collected data by use of computer software Enables Electronic Data Interchange (EDI) Improves analysis & quality of decision making Revised Schedule VI is on the lines of IFRS & simplifies Schedule VI to make it more relevant to the present needs pf globalization
  5. 5.  It is proposed to include all companies to file their Balance Sheet and Profit and Loss account statements in XBRL from Financial Year 2011-12 onwards. With the development of taxonomies for Banks, Insurance, Non- Banking Finance Companies and Power sector, the companies operating in these sectors would also be filing their financial reports in XBRL from FY 2011-12. In order to capture sector specific details, it is proposed to allow for extensions in the taxonomy by the filers from FY 2011-12 onwards.
  6. 6.  RBI has already implemented XBRL based reporting by banks for Capital Adequacy Data as per Basel II norms RBI has plans to convert all other returns on XBRL in next couple of years SEBI has started developing a Platform for XBRL based filing by all listed Companies CERC is developing an XBRL based Regulatory Information Management System (RIMS)
  7. 7.  India is a hot destination for XBRL data conversion work A major portion of US SEC filing work is being outsourced to India MNCs such as Merrill IT, RR Donley, Aptara have set up offices in India for XBRL data conversion work A substantial portion of UK HMRC filing work is expected to be outsourced to India Finance Professionals with knowledge of XBRL are in demand for outsourced work ........need we say more
  8. 8. Course Objective: To enable the participants for filing financial statements in XBRL format as per Revised Schedule VICourse Contents: Background and overview of XBRL Understanding new XBRL Taxonomy Complete understanding of the filing process in MCA21 Understanding of Revised Schedule VI Format for Balance Sheet & P&L. Hands-on practical Session for Preparation of Financial Statement using automated tool
  9. 9.  Option 1 Fees: Rs. 3,500.00 + Service Tax (for full-day session) Option 2 Fees: Rs. 2,000.00 + Service Tax (for a half day session, first half is concepts while second half is practical aspects) Payment to be made in favour of ‘Takshila Learning Pvt. Ltd.‘ Payment is acceptable through cash, cheque, credit card or demand draft In case of on-line payment through credit card, 7.5% towards bank charges would be extra
  10. 10. Modalities for payment ◦ Cheques to be couriered to 1/44 Lalita Park , Laxmi Nagar, Delhi-110092 ◦ Cheques can be deposited in our HDFC Bank Account no. 01442000012558 in any HDFC Bank Branch ◦ For transferring funds on-line through net-banking NEFT, branch IFSC Code is: HDFC0000144 ◦ Call for our executive to pick up the cheque/cash from your doorsteps
  11. 11.  Webtel is the knowledge partner of Takshila for this training programme on XBRL WebTel Electrosoft Pvt. Ltd. is Indias leading e-regime company engaged in complete software solutions and knowledge process outsourcing activities. Webtel is known for several of its products in the financial sector particularly catering to e-filling
  12. 12.  “When I went for Takshila Learning Institute I had lot of options to choose from. However, once I did some research on my own to compare the facilities, the course structure, the faculty etc. I thought that this institute was the inevitable choice as it had an edge over the rest of its kind offering the same course. Doing this course from Takshila Learning institute has given me the insight I was looking for…….. in one word it was truly a “value for money”. - Gyan Agarwal, diversified corporate group “It was truly remarkable to attend the IFRS Diploma Course…….. Thank you Takshila for having such a powerful impact on all the students you touch. Keep up the fantastic work!" - Arghya Mukherjee, leading BPO organization
  13. 13.  “The faculties possess a good command over the subject. No doubts remain unresolved. The lectures are interactive. What I liked most is the step by step problem solving approach followed and taught.” — S Bhatkar , A leading BPO Services company “TAKSHILA is providing a good platform for equipping the Indian accountants to meet the challenges of IFRS conversion. The classes organized by Takshila are more interactive and based on practical issues.” - - CA Karm Veer Kalyan Dev "TAKSHILA’s course was presented in a clear and precise way that was easy to understand”. - Pradeep Gorav, Asstt. Manager (F & A)
  14. 14.  Jubilant Energy  GAIL Zee Turner Ltd.  Intercontinental Hotels Group Valley Iron & Steel Ltd.  Deutsche Postbank Posco Ltd.  Wipro Jaypee Capital  Genpact BMR Advisors  Cairns India American Express  ATE India  Dish TV DMRC  Max Healthcare Baxy Group Dominos Pizza
  15. 15. info@takshilalearning.comContact Central Helpline no. @91-99581 57000