Historically speaking XBRL was born in USA. However converting all the documents from a non xbrl environment to the xbrl environment is happening all over the world. The UK, USA, etc. are choosing to do the outsourced work in India. A very big quantity of this work is happening in Navi Mumbai! Of course it […]
Are you ready for XBRL? Well preparedness for xbrl can mean different things at different levels of the xbrl chain. Board level: If you are a member of the board of directors of a company, you need to know that the Ministry of Corporate Affairs has mandated reporting in XBRL format. You need to know […]
There is a big hoopla about XBRL – and all people talk about ‘data integrity’. Well what is data integrity? Well if you are a user of data in India (no clue how it is abroad) you spend half the time wondering whether the data you are using is correct or not.And for those of […]
If you are a reasonably big company you need to file your Annual Returns with the RoC (Registrar of companies) in the eXtensible Business Reporting Language. Annual Returns include your Directors Report Auditors Report Profit and Loss Account Balance sheet Notes on accounts Management Discussion Analysis…etc. A company has to file its AR in xbrl […]
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 […]
I know many Chartered Accountants, Cost Accountants and Company Secretaries do visit this blog…I am also sure that they keep themselves abreast of MCA notifications… Here is a notification that is putting a lot of responsibility on practising accountants and secretaries….well if you want to get paid well, learn to accept responsibility also…read on..Circular_MCA_14-2011_12apr2011
If this really happens smoothly….! XBRL is the new way of presenting data – substantially accounting data, though of course it can be non accounting data also! In the US xbrl data has a common nomenclature for xbrl…now the government of India is planning to do the same thing… http://www.financialexpress.com/news/Centre-to-set-up-common-database-for-all-regulators/708894/