SOFT SOLUTIONS introduces MCA e-filling that helps in creating XBRL sheets, Validating and beyond....
XBRL is a data-rich dialect of XML (Extensible Markup Language), the universally preferred language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators. XBRL provides a common, electronic format for business reporting. It does not change what is being reported. It only changes how it is reported.
XBRL is a world-wide standard, developed by an international, non-profit-making consortium, XBRL International Inc. (XII). XII is made up of many hundred members, including government agencies, accounting firms, software companies, large and small corporations, academics and business reporting experts. XII has agreed the basic specifications which define how XBRL works.
XBRL in MCA
It has been decided by the Ministry of Corporate Affairs, India to mandate certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy.The following classes of companies have to file the Financial Statements in XBRL Form only from the year 2010-2011.
All companies listed in India and their subsidiaries, including overseas subsidiaries.
All companies having a paid up capital of Rs. 5 Crore and above or a Turnover of Rs 100 crore or above.
Outsourcing to SOFT SOLUTIONS for Creation and validation of XBRL document by our Expert team of Professionals:
Developed a complete XBRL Conversion Software on our own that bridge gap between a software & finance people.
Expertise in validating XBRL data into instance document for Balance Sheet & Profit and Loss Account using taxonomy and Business Rules for Commercial and Industrial (C&I) entities that saves your time & laborious hardship.
A dedicated team of professionals (CA/CS) working since MCA launched XBRL filing to generate XBRL document accurately and within time span.
Eliminates the need for spending time & initial costs of training.