XBRL will help ensure better transparency

New Delhi, Sept 20:

The implementation of the new financial reporting format, XBRL, will help ensure better transparency in accounting disclosures made by companies, a government official said today.

The Ministry of Corporate Affairs has directed companies to provide financial statements in the eXtensible Business Reporting Language (XBRL) format, replacing the traditional practice of giving such information in the PDF format.

“XBRL system will help in ensuring transparency when it comes to financial disclosures made by companies,” Pankaj Srivastava, Director at the Ministry of Corporate Affairs, said here.

He was participating in a seminar organised by industry body PHD Chamber on ‘Revised Schedule VI of the Companies Act, 1956 and XBRL Taxonomy’

XBRL Filling Manual V2.0

Below document describes the various specifications and guidelines to be followed for preparation of
XBRL documents. It also includes the various steps required to be followed for submission of the
XBRL documents on the MCA portal.

This is document also available at MCA website.
(Download link below)

MCA publishes exposure draft of taxonomy for Cost Audit & Compliance reports

The Ministry of Corporate Affairs (MCA) has published the exposure draft of the taxonomy for filing Cost Audit and Compliance reports on its website.

MCA is inviting comments and/or suggestions from stakeholders on the exposure draft of the taxonomy for filing of Cost Audit and Compliance reports. 
This has been in the wake of MCA`s circular no 8/2012 dated May 10, 2012 (amended on June 29, 2012) and No. 18/2012 dated July 26, 2012.

The comments and/or suggestions may be sent by August 20, 2012 at e-mail addresses:
bharat.goyal@mca.gov.in;
goyalbb@gmail.com;
xbrl@icwai.org; 
xbrl.technical@mca.gov.in; 
xbrl.suggestion@mca.gov.in.

Click Here for Draft-Cost Audit Taxonomy

A Webinar on MCA XBRL filings of financial statements for Financial Year 2011-12

A Webinar on MCA XBRL filings of financial statements for Financial Year 2011-12 has been scheduled on 16.08.2012 at 12.00 noon. 

Ministry officials, representatives of ICSI, ICAI, TCS, etc are expected to participate in this webinar. 

URL (Weblink) of the Webinar is http://68.233.237.91/icsi160812

Apex XBRL Version 1.1 now available

Download, install and enter data from financial statements. Create XBRL. Validate using MCA's Validation Tool. Certify entered data and generated XBRL from qualified person (e.g. your CA/CS), Submit to MCA using appropriate forms.

Built for Taxonomy created by Ministry of Corporate Affairs, Govt. of India **

APEX XBRL Maker is free XBRL software for MCA filing and is based on the taxonomy created by MCA (Ministry of Corporate Affairs, Government of India.)

APEX can be used to create or tag data in your financial statements through an easy to use interface and generate XBRL files at the click of a button.

Installation Problems? Download Microsoft Dot Net framework (free download) from here: http://www.microsoft.com/download/en/details.aspx?id=24872


Download Free XBRL Software - Apex XBRL v1.1

** - This Version Only for 2011 Taxonomies.