Archive for the 'XBRL' Category

Why use XBRL?

Sometime in 2007-8 the BSE decided to use something called corpfiling to get the information from the public. This replaced the earlier method of collecting information. When a company conducts a board meeting or discusses its quarterly results…it is necessary to tell the stock exchanges and the regulator what was the outcome of the meeting. […]

XBRL MCA Conversion process

It is now compulsory for many companies to file their Annual Returns in XBRL format. Let us look at the process involved in doing this: You convince a company that you are capable of converting their pdf / other formats into xbrl format. Then the company sends you the annual return. Assuming it is in […]

XBRL: who benefits?

Who benefits from the introduction of xbrl? 1. The Regulator: When the Parliament asks the regulator to produce sensible documents, currently they do not. Not that they produce it after a time lag, they just do not have it! The regulator has millions of tons of pdf documents and hard copies – in an unclassified […]

XBRL conversion service: what to look for?

In the current year with the deadline of 30th November, 2011 staring at us in the face, is it possible for companies to comply with Mca norms? I mean do we have the time to convert all our companies, accurately, and file it with MCA – if we do it on our own? This is […]

XBRL conversion services: what to look for?

The MCA mandate is out and all companies are in a ‘searching’ mode of how to comply with the mandate. Predominantly there are 2 options – buy software, learn the skill and do the tagging yourself, or give your annual return to a ‘conversion’ specialist. The conversion specialist will convert it for you and give […]

Compliance: cost of compliance!

For many companies – which come under the MCA mandate there is a need to file their annual returns in xbrl format. This happened because there were some companies which were filing very poor quality of info while filing the details with the RoC. The sad part of non compliance by a few people is […]

Why use xbrl?

Good and a valid question. Actually in the Indian context we do not know how much the regulators will talk to each other! For example if RBI, SEBI, MCA, IRDA, …et al spoke to each other you may not have to file the same document with each of the authorities. If MCA, for e.g. regularly […]