What is XBRL.
Hwo this Work
&
What its importance?
4 Replies
vignesh
(student)
(783 Points)
Replied 31 August 2011
XBRL is short form of eXtensible Business Report Language. XBRL used to file the annual returns in the machine readable language. XBRL is the next stage of XML. For more Details you can visit www.xbrl.org this website to clear all the doubts.
The instance document is the final product of the XBRL. Before uploading the instance documents we can check the details entered in the instance documents are correct or not through XBRL Validation tool which is available in the MCA website for free.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 01 September 2011
XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data. It is an open standard, being developed by a non-profit making international consortium.
XBRL is introduced in India in a view to harmonize the disclosure of the Corporates. It is a machine level language.
Jaideep
(Service)
(1368 Points)
Replied 02 September 2011
But Sir,its costing too much for some small companies or which are of nature of JV and partnership having 5 cr capital....as the classification of companies for XBRLfiling
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 September 2011
No innitially the quotations were very high. But, now it comes to a reasonable price.
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