Upload
trivesa
View
83
Download
0
Tags:
Embed Size (px)
DESCRIPTION
Volition LLP's free guide to XBRL Conversion. XBRL Conversion requires to follow the steps as described. Volition LLP not only help companies with XBRL Outsourcing services but also with XBRL Software
Citation preview
XBRL Brief Overview
Bridging the digital divide
Volition LLPPage www.volitionllp.com
Bridging the digital divide
Mr. Sachin Trivedi
Email: [email protected]
Mobile: +91-99030-37609
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-20112
// Final Deliverable and Example of Instance document
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-20113
// Final Deliverable and Example of Instance document
Introduction of Volition LLP
Volition LLP is a management consulting firm, advising organizations on emerging issues
like IFRS and XBRL. Volition LLP has been assisting some of the largest companies of India with IFRS
Conversion and is set to bridge the digital divide with XBRL Services.
Reporting Standard S.L. is a Spanish IT company that expands its business activity in three areas:
Software development, Consulting Services and development of the XBRL standard.
Volition LLP along with Reporting Standard will empower organizations to deliver, error free and
satisfactory eXBRL reports to the regulators, making us XBRL Solution providers of your choice.
Volition LLPPage www.volitionllp.com01-10-20114
XBRL & Volition LLP
Volition LLP is one of the leading software vendors of XBRL Software and XBRL Outsourced Service
Provider.
Our entire offering on XBRL helps companies in filing satisfactory eXBRL reports to the regulators,
making us XBRL Solution providers of your choice.
� XBRL Software
� XBRL Outsourced Conversion Services
� XBRL Training across the cities
Volition LLPPage www.volitionllp.com
making us XBRL Solution providers of your choice.
An experienced, well trained team of professionals execute each conversion engagement accurately.
01-10-20115
For Trial License of the Software, Outsourced Services
or Training Contact Us @
Mr. Sachin Trivedi
Email: [email protected]
Mobile: +91-99030-37609
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-20116
// Final Deliverable and Example of Instance document
What is XBRL
XBRL stands for eXtensible Business Reporting Language .
XBRL is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language
for transmitting information via the Internet.
XBRL is a standard format for reporting financial data. Instead of treating financial information as a block
of text - as in a standard internet page or a printed document - XBRL provides an identifying tag for each
individual item of data, which are computer readable.
XBRL does not change what is being reported. It only changes how it is reported.
Volition LLPPage www.volitionllp.com
XBRL does not change what is being reported. It only changes how it is reported.
01-10-20117
Facts you did not know about XBRL
Charles Hoffman, a CPA with the firmKnight Vale and Gregory in Tacoma,Washington, investigates how XML couldbe used for electronic reporting of financialinformation. Charlie begins developingprototypes of financial statements and auditschedules using XML.
April 1998 - XBRL is Conceived
The first meeting of the XBRL Steering Committeetakes place in the offices of the AICPA in New
October 1999 - AICPA Hosts First Meeting
First jurisdictions to adopt XBRL
Volition LLPPage www.volitionllp.com01-10-20118
XBRL Australia, XBRL Canada, XBRL Germany, XBRL IASB, XBRL Japan, XBRL-Netherlands, and XBRL-UK form the first jurisdictions to support the development of XBRL.
October 2001 - XBRL Jurisdictions are Formed
takes place in the offices of the AICPA in NewYork City. At this meeting, the developmentbegins on the first taxonomy: XBRL for FinancialStatements for the Commercial and IndustrialSector, which represents about 80% of allpublicly-traded U.S. companies.
XBRL Concept
Creation of First Taxonomy.
Commercial and Industrial
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-20119
// Final Deliverable and Example of Instance document
Why XBRL?
� The global XBRL movement has ushered in a new age of financial reporting.
� XBRL, often referred to as "Interactive Data", gives the financial community a standards-based method
to prepare, publish, exchange, search, and analyze financial statements of both public and private
concerns – across all software formats and technologies.
� XBRL was made compulsory in India from financial year 2010-11.
� XBRL data is more robust, accurate, and transparent than data in financial statements that appears in
legacy electronic and paper reports. For investors and analysts, XBRL eliminates the time, labor, and
errors.
Volition LLPPage www.volitionllp.com
errors.
01-10-201110
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-201111
// Final Deliverable and Example of Instance document
Scope of XBRL
According to Circular No. 37 of the MCA following companies need to file Financial Statements in XBRL
format from the year 2010-11:
(i) All companies listed in India and their Indian subsidiaries;
(ii) All companies having paid up capital of `̀̀̀ 5 crore or above,
(iii) All companies having turnover of `̀̀̀ 100 core or above.
However banking companies, non banking financial companies, insurance companies, power companies
are exempted from XBRL filing till further order.
Volition LLPPage www.volitionllp.com
are exempted from XBRL filing till further order.
01-10-201112
Traditional
Financial
Statement
Financial
Statement Data
“Mapped” using
Final Converted
Instance
Document for
Filing the XML
Instance
document with
Validate the Instance
Document with the
Validation Tool
provided by the MCA
Test 2
1 2 3
4XBRL Process Flow
5
Volition LLPPage www.volitionllp.com01-10-201113
Statement
Presentation XBRL Taxonomy
Document for
filing
document with
the MCA
Validate the Instance
Document on creation of
the instance document
with the internal
Validation Tool
Test 1
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-201114
// Final Deliverable and Example of Instance document
Tools and Reports- Screen Shot of the Software
Volition LLPPage www.volitionllp.com
Tools and Reports- Screen Shot of the Mapping
Volition LLPPage www.volitionllp.com
Contents
// Introduction to Volition LLP
// What is XBRL
// Why XBRL
// Scope of XBRL
// Tools and Reports
Volition LLPPage www.volitionllp.com01-10-201117
// Final Deliverable and Example of Instance document
Screen Shot of the Final Instance Document
Volition LLPPage www.volitionllp.com
Volition LLPEnvironment | Finance
About Volition Business Solution LLPVolition is a professional consulting firm focused primarily on consulting withregard to environment, finance, strategy and human capital. We thrive toserve our clients and provide them with workable solutions.
About Volition’s Services We specialize in Environment, Finance and Strategy, providing servicesacross Carbon Strategy, Footprint, Sustainability Advisory and IFRS,Valuation, Due Diligence Advisory. We have a strong team of people whohave exposure to working in the world’s largest consulting and auditpractices, thereby adhering to strict requirements of Independence,confidentiality and values. We have a good mix of team who has a wideexposure to various sector and industry backgrounds and are ready toprovide you with solutions which meet the standards of global best practices.
Volition LLPPage www.volitionllp.com
provide you with solutions which meet the standards of global best practices.At volition the client is priority and we believe in meeting timelines committed,without compromising on the quality of the services provided. It’s how Volitionmakes a difference.
For more information, please visit www.volitionllp.com.
©2011 VBS LLP. Proprietary and confidential. Do not distribute without written permission.
Thank You
Volition LLPPage www.volitionllp.com
For any further details of the process contact: +91-99030-37609
Mr. Sachin Trivedi
Email: [email protected]