Taxmann’s XBRL Tool2011-12

Purpose of XBRL Reporting

XBRL is a language for the electronic communication of business and financial data that has revolutionized business reporting around the world. Its major benefits include ease in preparation, analysis and communication of business information by the corporates.

It is proposed to include all companies in a phase-wise manner to file their Balance Sheet and Profit and Loss account statements in XBRL from Financial Year 2011-12 onwards.

Role of MCA

Role of MCA in XBRL is limited to publish Taxonomy and Business Rules. From financial year 2011-12 MCA has mandated filing of Cost Audit Report in XBRL apart from C & I, Which was made mandatory in financial year 2010-11

How XBRL works

As per MCA requirement now user have to attach XML file of Balance Sheet and Profit & Loss Account with e-Form 23AC and 23 ACA as against scanned copy earlier.

XBRL Tool uses the Taxonomy and Business Rules to convert financial data of user into XML.

XML is machine readable version of user’s financial data.

Features of Taxmann's XBRL Tool:

Based on Revised Schedule VI Fully complying with Final Business Rules and C&I Taxonomy-

2012 Unlimited Returns Backup and Restore of data Easy tagging of data in one shot Facility to enter data in Excel Sheet Import company master through CIN Import/Export facility in excel format Generation and validation of instance document Live update facility for latest version of taxonomy Facility to prepare all schedules simultaneously Also complying with Final Costing Taxonomy and Business Rules

Final Costing Taxonomy-2012

User’s Guide for Taxmann’s XBRL Tool

Create New Organization

Select whether Cost Audit Report & Compliance Reporting is required

We have provided single tool for C & I and Cost and Compliance Reporting. So if user want to generate instance document for Cost Audit Report and Compliance Report, in that case ‘YES’ should be selected.

SELECTION OF MODE OF ENTRY

• In order to fill the data in Taxmann’s XBRL Tool, first you have to select Mode of Entry

• On selecting “Direct Data Entry” mode following screen will appear. Please first fill data in General Information.

• Fields marked with Red Color and fields like Nature of Report, Content of Report and Type of Cash Flow are mandatory.

• Once you have filled General Information, after that ‘Disclosures, and ‘Notes’ required to be filled. You can go to next or previous sheet either by left panel or from ‘Next’ and ‘Previous’ button at the top.

• If you want to enter large text like Auditor’s Report or Director Report etc. then you can add in ‘Text Box’ by clicking on “Click to Enter Text”

• If you want to add some information in with any particular element or cell then you can add ‘Footnote’ to that element or cell

• Once you have completed with all Notes and Disclosures , Balance Sheet will mapped by Tool itself

• Same procedure required to be followed in case of Profit & Loss Account

• If you want to move your excel data in Taxmann’s XBRL Tool then you can select option of Move/Copy Data from Excel sheet.

COPYING/MOVING DATA FROM EXCEL SHEET• After selecting this option a browse window will appear. • Browse your Excel File and then click on proceed button.

• After browsing the file, two panels will be opened.• Left panel is your excel sheet and Right panel is for Taxmann’s

XBRL Tool wherein you are going to copy your Excel Sheet Data.

HOW TO MOVE/COPY DATA• Select cell in XBRL Tool and then select same item in your excel

sheet which you wish to copy.• Now right click on your selected cell and left click on “Move

Data” button and data will be copied by the software• You can moved the data for both the years simultaneously

CHANGE IN MODE OF ENTRY• Mode of entry can also be switch over by clicking on “Switch”

button

VALIDATION OF DATA• Either you can validate whole the data at one go by Instance

Doc-BS and Instance Doc-PL or you can validate data sheet wise through “Validate/Generate” button.

• There are two options given to validate your data.• List of errors if any will be displayed at the bottom as shown below

VALIDATION OF INSTANCE DOC/VIEWER• On successful validation of Instance doc, save this file at your

desired location• Now validate your XML File through “MCA XBRL

Tool/Viewer”• When you open the MCA XBRL Tool/Viewer, you have to

select the applicable Taxonomy i.e. C&I 2011 OR C&I 2012

• After downloading Taxonomy, browse your validated file by clicking on File as shown in screen below.

• After file is loaded 100 percent, validate it by clicking on “Validate” button.

• Errors if any will be shown in a separate window as shown below

• If no error is found on validation, following massage will be reflected.

• It means your file is validated successfully.

APPLICABILITY OF ONLY CURRENT FINANCIAL YEAR (NEWLY INCORPORATED ORGANIZATIONS• In case organization in newly incorporated and there in no

previous year data, First Financial Year option is to be selected from “Financial Year” button given on top

COST AUDIT AND COMPLIANCE REPORT• If you want to generate Instance doc for Cost Audit and

Compliance Report click on “Go to Cost Audit & Compliance Report” button

• A separate Taxonomy for Cost Audit and Compliance Report will be downloaded