XBRL

 

IFRS Foundation releases educational modules for the IFRS – SMEs Standard

In August 2018, the IFRS Foundation released an additional seven educational modules in respect of the 2015 version of the IFRS for SMEs Standard. These modules aim to assist anyone who wants to prepare, use, or understand financial statements that … Continue reading

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The United States and Data Standardization – The Long Road Ahead

Data standardization has often been trumped as the gold standard for financial reporting – and justifiably so. Not only can it help ensure greater transparency and comparability between the financial performance and position of companies or local government bodies, but … Continue reading

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XBRL – a standard for now and the future of compliance reporting in the US

XBRL has been around for a few years now. At the time of its introduction, much attention was given to the possibilities that XBRL reporting could offer – digitization, increased comparability and reliability to name a few. However, it’s equally … Continue reading

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XBRL for MCA: Software or Service?

XBRL has been embraced by various regulatory bodies across the world. In India, The XBRL wave started in late 2007 when ICAI initiated the idea of using XBRL in collaboration with the different regulators in India that control registered companies, … Continue reading

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XBRL around the world

While there has been increased focus on XBRL within the United States over recent months, in part due to the SEC’s recent announcement that iXBRL will be used by operating companies and mutual funds going forward, it’s also worth taking … Continue reading

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Ind AS vs. Indian GAAP: What are the key differences?

Ind AS vs. Indian GAAP: What are the key differences? India is trying to move to the Indian IFRS accounting standards popularly known as Ind AS. This move will not be easy considering that Ind AS is rather different from … Continue reading

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Last date for filing Form AOC-4 (XBRL) extended by MCA

Companies required to prepare the e-form AOC-4 for the financial year 2016-2017 now have some breathing room as MCA pushes the deadline for filing the XBRL document to 30 April 2018. Previously, organisations compliant with the Indian Accounting Standards (Ind … Continue reading

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Bombay Stock Exchange mandates financial results in XBRL format

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

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

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

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MCA takes another Initiative in Government Process Re-engineering (GPR)

As part of the Ministry’s efforts towards promoting greater Ease of Doing Business to stakeholders, new version of Form SPICe (INC-32) with date of effect as 30th January 2017 will be notified soon, so as to include the functionality of … Continue reading

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