Chartered Accountants, Company secretaries,….and others who are responsible for the MCA filing have to learn a new tool/ skill.
the MCA (Ministry of Corporate Affairs) has said that it is compulsory for certain companies (have done a separate post on who are liable to file)..
But first thing first..if you need an overview of XBRL attend a one day training. If you need a more detailed hands on training do a 2 day training. This is xbrl training that I am talking about and is different from ifrs training that you may have gone through. Unlike IFRS, xbrl is a reporting standard – it is not a software or a tool.
xbrl is different from ifrs even though many people say ‘xbrl ifrs’ in one breath! You have no choice but to learn xbrl – and frankly that can happen only if you attend an xbrl training course.
do not postpone – 30th Sep is the last date for filing!
PS: I am a trainer, so I am looking for business for the training fraternity. Alas, sadly I do not do xbrl training. I have a good over all view of the xbrl process, and have what I call an very good helicopter view (I think it is a superb tool), but I do not know the details – not enough to do a full fledged training.
so like Nike says, Just Do it.
to me it looks like a good opportunity for CAs over the next few years..till the tools get cheaper…
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