@WEBTELDOTIN

eXtensible Business
Reporting Language
(XBRL)

Leading Enterprise &

Compliance Solutions
Company

Presented by : Devanshi
Dixit
 XBRL (eXtensible Business Reporting Language) is

the open international standard 1 for digital business

reporting. XBRL is used to deliver human-readable

financial statements in a machine-readable, structured

data format.
About
XBRL
1.1
WHO USES
XBRL?  Regulators of stock exchanges and
securities,

 Banking regulators,

 Business registrars,

 Revenue reporting

 Tax-filing agencies,

 National statistical agencies.

What does XBRL do?
  Taxonomy is a science that deals with naming,

Taxonomy describing and classification. The general purpose of

(Introduction) taxonomy here is format of filling of statements by
companies.
 Taxonomy can be referred as an electronic dictionary
of the reporting concepts.

 Taxonomy consists of all the data definitions, the basic

XBRL properties and the interrelationships amongst
the concepts.
 Types of
Taxonomy

IND-AS NON-INDAS (C&I)

INDAS or Indian It refers to Commercial
Accounting and Industrial
Standards govern the Taxonomy. It is a
accounting and general-purpose
recording of financial taxonomy based on the
transactions as well as Indian GAAPs
the presentation of requirements and
statements such as Schedule VI to the
balance sheet and profit Companies Act, 1956.
and loss account of a
company in India
 Difference between
Companies following Companies following
INDAS: INDAS:
• Companies having paid up
• Companies listed with stock
capital of 5 crore rupees or
exchanges in India;
above;

• Companies having net worth of 250

crore rupees or more;
• Companies having turnover of
100 crore rupees or above.
• Holding, subsidiary, joint venture and
associate companies of above
companies.
 BENEFIT
S

The benefits are

XBRL offers major seen in automation, They are able to XBRL is a flexible
benefits at all cost saving, faster, concentrate effort language, which is
stages of more reliable and on analysis, aided intended to
business more accurate by software which support all current
reporting and handling of data, can validate and aspects of
improved analysis process XBRL reporting in
analysis.
and in better quality information. different countries
of information and
and industries.
 Applicability of XBRL

All companies listed with any All those companies whose annual
1. stock exchange in India and their 3. turnover is Rs.100 crore or more
Indian subsidiaries. than Rs.100 crore need to file with
XBRL.

All companies that have paid up All companies required to prepare

2. capital of Rs. 5 crore or more 4. their financial statements in
than Rs.5 crore need to file with accordance with Companies (Indian
XBRL. Accounting Standards) Rules, 2015
Exemptions of XBRL filings

A few exceptions are not required to fill their

financial statements with respect to XBRL.

These exemptions include the following

companies:

• Housing finance companies

• Insurance companies

• Non-banking financial companies

• Banking financial companies

 Advantages of XBRL
• Automation of different functions and operations

• Expense reduction

• Data transparency

• Ease of comparing data, transforming data, and analyzing data.

• Reliability and speedy

• Revision of equality

• Improve as well as a better way of reporting

• Accurate data

• Time-saving process and cost-effective

• Safe in the process of data handling

 What is Corporate Identification
Number ?
Corporate Identification Number (CIN) is a 21 digits alpha-numeric code issued to companies

incorporated within the country on being registered by the ROC situated in different states across

India under the MCA. CIN is provided to all companies registered in India, which include: Private

Limited Companies (PLCs).

First letter is L for listed company and U for unlisted
company.
Then 5 digit industry code.
Then Alphabetic state code.
Then Incorporate Year.
Then PLC for public limited company and PTC for
private limited company.
Then ROC of Code.
 Difference between
Public Company Private
•
company
A listed company is a stock exchange- • An unlisted company is a company
listed company wherein the shares
that is not listed on the stock market.

are openly tradable.

 Difference between
Public Company Private
• company
A public limited company is a legal • A private limited company is an
entity that can offer shares to the
entity where its promoters and
general public and in turn, owns a
investor hold shares.
limited amount of the company in
terms of shares.
 The Registrar of Companies ( ROC ) is an office under the

Ministry of Corporate Affairs (MCA), which is the body that deals

with the administration of companies and Limited Liability

Partnerships (LLPs) in India.

ROC
 What is PAN?

Structure of PAN no. AAAPS1234A

PAN is a ten-digit unique alphanumeric number issued by the Income Tax
Department.

AAA-ZZZ P S 1234 A
Status of the person Surname First Sequential
Any Alphabet from
whether the person is Series Random Check
AAA to ZZZ Letter or name’s
individual, Company, digit
first letter
Firm, AOP, Trust etc.
P- Person
C-Company
T-Trust
F-Firm
 What is Director Identification Number (DIN)?

DIN is a unique Director identification number allotted by the Central Government

to any person intending to be a Director or an existing director of a company.
It is an 8-digit unique identification number which has a lifetime validity.
Through DIN, details of the directors are maintained in a database.
 A unique identification number is issued by the Institute of

Chartered Accountants of India (ICAI) and the Institute of

Company Secretaries of India (ICSI) to Chartered Accountants

and Company Secretary.

It is a 6-digit unique identification code.

Membershi
p Number
 What is
XML?
XML provides a framework for defining tags (i.e. taxonomy) and the relationship between them

(i.e.XML
An schema).
Schema describes the structure of an XML document.

It specifies which elements and attributes can be used, their

types, how they can be organized, and any default or fixed

values they may have. Essentially, it provides a blueprint for

creating and validating XML data.

 About MCA
The Ministry of Corporate Affairs (MCA) is an Indian
government ministry.
This Ministry is primarily concerned with
administration of :-
 The Companies Act 2013
 The Limited Liability Partnership Act,2008 & Other Allied
acts and rules and regulations frames there under mainly
for regulating the functioning of the corporate sector in
accordance with law.
Exercise Supervision over the Three Professional
Bodies :-
 Institute of Chartered Accountants of India (ICAI)
 There are some documents required for the successful filing of XBRL which are
under: • Balance Sheet with its Notes
• Profit and Loss Statement with its Notes
• Cash Flow Statement
• Significant Accounting Policies
• Other Notes to Accounts
• Reports from the Independent Auditor with

Documents annexures thereto

• Reports from the Board of directors with
required for annexures thereto

XBRL filling • Other Relevant Documents, if Any Required

The above documents should be signed by the

directors and other authorized signatory in the
Conversio
n Process
 Financials
Begin with the company's financial statements.
1. we tag the balance sheet which contains details
of a company's assets or liabilities at a specific
point in time (i.e. at the end of financial year).
2. Secondly, Profit and loss accounts that shows
your total income and expenses, and also shows
whether your business has earned more income
than it has spent on its running costs.
3. Then, Cash flow statement that provides
aggregate data regarding all cash inflows and
outflows that a company receives from its ongoing
operations and external investment sources.
Lastly, other financial notes.
 There are 2 types of financial statements

Standalone Financial Consolidated Financial

Standalone Financial Statement represent the Consolidated Financial Statement of a company
financial position and the performance of the represent the complete financial position and
company as a single entity without taking into the business performance of the company
account the financial position and the including its subsidiaries, joint venture and
performance of its subsidiaries, joint venture associate companies.
and associate companies.
Standalone Financial Consolidated Financial

ABC Private ABC Private

Limited Limited

Without Subsidiary and

associate Companies
 Non-Financial

Accounting policy
The principles and methods that the company has
chosen to prepare financial statements to give a
clear overall picture of the company's finances.

Auditor's Report
An independent Auditor’s Report is an official
opinion issued by an external or internal auditor as
to the quality and accuracy of the financial
statements prepared by a company.
 Secretarial
Director Report-
is a document that is typically included in a company's annual report.
AOC-1 –
Statement containing salient features of the financial statement of Subsidiaries/associate
companies/joint ventures.
AOC-2 -
Disclosure of particulars of contracts/arrangements entered into by the company with related
parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain
arms length transaction under third proviso thereto.
MR-3-
Disclosure of SECRETARIAL AUDIT REPORT includes compliance of various legislations including
the Companies Act and other corporate and economic laws applicable to the company.
 Due Dates of XBRL Filing with
MCA

If the company's financial year ends in March, then the company must conduct an

AGM before 30 September every year.

Name of E-form Purpose of E-form Due date of Filing

Filing of Annual Accounts in 30 days from the conclusion

Form AOC-4 (XBRL)
XBRL mode of the AGM
What is an AGM?
An annual general meeting (AGM) is a yearly

gathering between the shareholders of a

company and its board of directors.

The objectives of an AGM are to discuss the

company's performance and affairs, and to elect

or appoint directors and other officers.

 Additional fee of late Filing XBRL Report

In case of Delay in filing the annual returns/balance sheet/financial statement

beyond the period provided under Section 137(1) of the Act – Due dates to file

AOC-4 XBRL (within thirty days of the date of the annual general meeting) Rupees

100/- per day would be the late fees.

 If Fail to file the financial
statement
In Case of Company
Fine: 1 thousand rupees for every day during which the failure continues but which shall not be
more than 10 lakh rupees,
In Case of officers in default
1. In Case of the managing director and the Chief Financial Officer of the company, if any,
2. In the absence of the managing director and the Chief Financial Officer, any other director.
3. Who is charged by the Board with the responsibility of complying with the provisions of this
section, and, in the absence of any such director, all the directors of the company.
• Imprisonment: for a term which may extend to 6 months
• Fine: Not be less than 1 lakh rupees but which may extend to 5 lakh rupees, or both
 Process of XBRL Leading Enterprise & Compliance
Solutions Company

1
The first step fillings
requires
2 The validation tool of
. the creation of a . XBRL can be downloaded
document known as the from the MCA (Ministry
XBRL instance document of Corporation Affair)
(XML). portal.

3 Use the downloaded

4 Pre-scrutiny steps are
. tool to validate the . required for the
document created in the validation of instance
first step, the instance documents through the
document. XBRL tool.

5 6 The final step requires

The instance document
. is to be attached with . submitting the form AOC
form AOC 4- XBRL. 4 -XBRL on the MCA
portal.
Thank
You