XBRL or eXtensible Business Reporting Language is a software standard, developed to improve the way in which financial data is communicated, making it easier to compile and share this data. Notably, eXtensible Business Reporting Language is an implementation of XML (extensible markup language), which is a specification that is used for tagging business and financial reports to increase the transparency and accessibility of business information by using a uniform format..
Companies required to file their financial statements and other documents in XBRL form:
- Companies listed with stock exchanges in India and their Indian subsidiaries;
- Companies having paid up capital of five crore rupees or above;
- Companies having turnover of one hundred crore rupees or above;
- All companies which are required to prepare their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015
Exempted Companies
- Non-banking financial companies.
- Housing finance companies.
- Companies engaged in the business of Banking and Insurance sector
Our key XBRL Conversion Services include:
- Systematically specifying financial statements with XBRL tags.
- Creating XBRL instance file in XML format for e-Filing.
- Creating comprehensive taxonomy, if required.
- Delivering XBRL instance report in readable form.
- Validating tags and conducting appropriate calculations.
- Providing a summary report with all the focus points for clients' review and concurrence on key tagging decisions and taxonomy labels added for line items in your financial report.
Process Flow involved in XBRL Conversion Service
