XBRL is a tool which helps us in analyzing all financial & other technical data in a systematic manner. It makes all technical information & data readable & we would not require segregating the information for analysis. It requires tagging of all financial data electronically through software which makes data readable.
Earlier Companies in Delhi used to prepare & file all financial information in different format like word, Excel, Pdf which one can read but to analyse them, if Companies wants to have information collated at one place then they didn’t have any tool for that.
XBRL Filling is Applicable on following Business entities
Companies in Banking, Insurance, Power Industries and NBFC’s are exempted from XBRL Filing.
Who can benefit from using XBRL?
All types of companies can use XBRL tool to automate the data collection process and distribution to various stakeholders. User can be benefitted in the following ways:
XBRL, being extensible and flexible, can be adapted to a wide variety of requirements. All stakeholders whether they are preparers, transmitters or users of business data in the financial information supply chain can benefit from the use of XBRL.
Cost XBRL Filling is Applicable on following Business entities:
Companies covered under these Companies (cost records and audit) Rules, 2014 shall, within a period of 30 days from the date of receipt cost audit report, submit such report along with full information and explanation on every qualification or reservation contained therein to the Central Government, in form CRA-4.
How Registrationwala can assist?
In regard to XBRL Filing following documents are need
The following classes of companies have to file the Financial Statements in XBRL Form:
However banking companies, insurance companies, power companies and Non Banking Financial Companies (NBFCs) are exempted for XBRL filing.
Following are the Documents required for XBRL Filling
Details of Share holders.
XBRL or Extensive Business Record Language is the best way to store, collate and transfer financial information. Based o ....
XBRL?is an XML (Extensible Markup Language) language, the generally preferred language for transmitting information by w ....
Working towards enabling a brighter today and tomorrow