XBRL training is a big event happening in the corporate world – especially amongst the financial executives. Let us get somethings very clear. It is necessary to file your Annual Return in xbrl format. This is a company secretary’s responsibility, but the work will have to be done by an accountant. It is obvious that […]
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 […]
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/
XBRL stands for eXtensible Business Reporting Language. It has become and is fast becoming THE reporting language internationally. It makes sense to all those people who use accounting information. Extensible means the application can be extended adding machine and human readable tags. Applications: a) for financial statements b) for taxes c) accounting and business reporting […]
“With XBRL you cant hide”, – S.Swaminathan of Iris always said that…Here is what he says: The myiris.com study has thrown up some startling findings. The study has shown that more than 200 listed Indian companies have discrepancies in their annual audited financial results. The discrepancies are such that the numbers simply do not add […]