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It has been decided by the Ministry of Corporate Affairs in India to mandate certain class of companies to file balance sheet and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. Click here to view details.SoftPark can help you meet this mandate with seamless integration in your present work-flow system. Interested? Contact us for any of your following needs:
- Conversion of financial statements in XBRL and iXBRL (Click here for free online xbrl conversion services) - XBRL Training (Click here to see images of earlier programs) - XBRL Tagging Tool: ResearchPoint-XBRL (India's first and only XBRL tagging tool recognised by HMRC-UK)
To learn or witness Semantic XBRL in action, please visit us at http://www.goodmorningresearch.com (Click here to view historical data of BSE/NSE filing in XBRL format of over 4000 Indian companies)
XBRL (eXtensible Business Reporting Language) is an XML based markup language used to communicate financial and business data electronically which promises to revolutionize the world of financial reporting and analysis, offering the market a new level of accuracy, interoperability, and consistency. The XBRL standard gives financial professionals unprecedented control over preparing, analyzing, and communicating financial information, whether numeric or text. The initial goal of XBRL is to provide an XML-based framework that the global business information supply chain will use to create, exchange, and analyze financial reporting information including, but not limited to, regulatory filings such as annual and quarterly financial statements, general ledger information, and audit schedules.Instead of treating financial information as a block of text, XBRL provides a computer-readable tag to identify each individual item of data. By attaching identifying tags to individual pieces of data, a business reporting document becomes intelligent data, allowing the exchange of business reporting data by encoding the information in a meaningful way. XBRL taxonomy describes and classify reporting concepts in a particular way. XBRL represents each concept as an element with a name. XBRL taxonomies are electronic machine readable dictionaries consisting of many linked files containing thousand of elements linked to each other.
