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XBRL impact on the new Ind AS accounting standards

24 Jul, 2017  Posted By Balaji M   Posted in MCA, MCA - XBRL in India, Uncategorized, XBRL Filings
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It is no new news that ICAI has been working on IFRS convergence with Indian Accounting Standards for several years now. This converged standard is termed Ind AS popularly. The Ind AS is very similar to the IFRS but has … Continue reading

 

Bombay Stock Exchange mandates financial results in XBRL format

19 Jun, 2017  Posted By Charles A   Posted in MCA - XBRL in India, XBRL Filings
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Bombay Stock Exchange (or BSE) has recently issued a circular requiring all entities listed with them to file Financial Results in XBRL format with effect from 1st April 2017 as against the earlier practice of filing in PDF format. In … Continue reading

 

Form AOC-4, AOC-4 XBRL and GNL-2 were recently revised on MCA21

20 Feb, 2017  Posted By Charles A   Posted in MCA, MCA - XBRL in India, XBRL Filings
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MCA (Ministry of Corporate Affairs) has notified that “Form AOC-4, AOC-4 XBRL and GNL-2 were recently revised on MCA21 Company Forms Download webpage. Stakeholders are advised to check the latest version before filing. MCA21 Company Form is an e-Form, in … Continue reading

 

Digital Revolution in Compliance Reporting

16 Feb, 2017  Posted By Charles A   Posted in MCA, MCA - XBRL in India, xbrl, XBRL Filings

Computers revolutionised the world of information decades ago. ‘Interactivity’, however has been a more recent phenomenon. Hitherto, data collection by Regulators has always been in ‘non-interactive’ formats like PDF, Word, etc. This scenario is changing as we go to press. … Continue reading

 

XBRL and Visualization for Big Data Analysis

27 Apr, 2015  Posted By Rohan Shirdhankar   Posted in Big Data, MCA - XBRL in India, xbrl, XBRL Filings
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XBRL in India has come a long way from the time since it was implemented by the Government regulators in India, namely the Ministry of Corporate Affairs, Reserve Bank of India and the major Stock Exchanges (National Stock Exchange and … Continue reading

 

XBRL in India “ Coordination among Regulators

31 Mar, 2015  Posted By Balaji M   Posted in MCA - XBRL in India, xbrl, XBRL Filings
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As this goes to press, two major regulators “ Ministry of Corporate Affairs (MCA) and Reserve Bank of India (RBI) have already implemented XBRL technology for report collection from companies and financial institutions. More such regulating regulators are on-course to … Continue reading

 

Journey of XBRL Reporting in India

26 Dec, 2014  Posted By Rohan Shirdhankar   Posted in XBRL Filings

The XBRL wave started in India in late 2007 when the Institute of Chartered Accounts of India, the premier accounting and statutory body, realised the critical role of Digital Business Reporting in the arena of regulatory reporting and the optimum … Continue reading

 

Company Law Settlement Scheme 2014 “ Late XBRL Filings Provisions for 23 AC and 23 ACA

16 Nov, 2014  Posted By Rohan Shirdhankar   Posted in XBRL Filings
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Some companies are unable to file their annual returns on time due to various reasons and are referred to as late filers. On missing a filing deadline, companies have to pay a penalty in addition to the normal fees and … Continue reading