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What is XBRL?

What is XBRL?. XBRL = e X tensible B usiness R eporting L anguage. family of " XML " languages standard means of communicating information Developed by international Body XBRL consists of financial facts Increased functionality over traditional reporting formats

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What is XBRL?

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  1. What is XBRL? • XBRL = eXtensibleBusiness Reporting Language. • family of "XML" languages • standard means of communicating information • Developed by international Body • XBRL consists of financial facts • Increased functionality over traditional reporting formats • Enables computers to classify, sort, and analyze • Standard way to communicate business Information Electronically • facilitates analysis of Business Information Speedily

  2. Benefits of XBRL:

  3. MCA Mandate – For Companies • Class of Companies that need to file: • All companies listed in India and their Indian Subsidiaries. • All companies having a paid up capital of Rs 5 crore and above. • All companies having a turnover of Rs 100 crore and above.

  4. What is to be filed • Balance sheet Statement • Profit and Loss Account • Cash Flow Statement • Schedules to Balance Sheet and P&L statement • Notes to accounts • Statement pursuant to Section 212 of Companies Act • Auditors Report • Directors Report

  5. Instance Document • What is Instance Document • XML document containing XBRL elements. • The financial statements • Comprises of Fact, Entity Name, Period, Scale Factor and Unit, and the tag to which information is associated. • Instance Document = Financial Statements + • Taxonomy

  6. Contents of Taxonomy • SCHEMA • It defines all the elements or business concepts contained in taxonomy • LINKBASE • The purpose of XBRL linkbases is to combine labels and references to the concepts as well as define relationships between those concepts.

  7. Points to remember while preparing taxonomy • Elements should not be duplicated. • Every element must have a standard label. • All the attributes of an element must be defined. • For all monetary data types, the balance type should be Debit or Credit • Weight attribute is MUST for any element participating in calculation i.e. +1 or -1. • Units should have IDs meaningful to a human reader of the instance. • Every element must have a period type. • Balance sheet items must have period type as “Instant” and Profit and Loss items “Duration”. • Debit element cannot be added to a credit element and vice-versa. • .

  8. Main Page This is the first screen which you will get after double clicking on the TAXBASE XBRL icon, where it display the XBRL database path & Taxbase database path, where your data will be gets stored. The default user name & password will be stored from the system as “SUPERUSER” this you can change as per your request after installation of the software. Link is given to update the database of TAXBASE XBRL Software after updation of the software then click on “OK” to enter in the system.For installing TAXBASE XBRL Softwareyou required to instaled dotnetFramwork 3.5 set up on your cmputer.

  9. XBRL Home Page In this screen it will display the list of assesses present in your system of TAXBASEXBRL This screen is divided into four options as : S/No.,Assessee Name,PAN & CIN . On Left Hand Side there aremany options as : 1.General Information 2.Sources& Application of Fund 3.Income Statement(main) 4.Statememnt for cash flow 5.Accounts Flows 6.Generate XML 7.Miscellaneous

  10. General Information: 1.General Information: Here you requriredto give an information about company as: Company Name,CIN No.,PAN No. Address . 2. Document Information Of Company as: Date of Board meeting ,Period covered by financial statement, Start of Reporting period CY & PY (Keep Reporting period PY Blank in case of 1st year incorporation .)Nature of report statement, Description of Presentation currency, Type of B/S, P&L,&Cash Flow Statement . 3. Other General Information: SRN of form 66,Date from which register of members remained closed,date till wich register of member remained closed.

  11. General Information: 4.Principal of product or Services : Detail principal of product or services as: No. of product, Description of Product Services, Unit measurement of Principal of product or Services, Turnover,& Quantity.

  12. Sources And Application of Fund • Here you can give the amount of respective heads of BS of Current year & Previous Year in the table.& It has option of Note , Defination ,Data type& Balance Type. • On left hand side there are many option as: • Source & Application of Funds • Fixed Assets • Fixed Assets Net Gross • Additional Details Balance Sheet

  13. Sources And Application of Fund In this Screen you can put the amount of share capital under the respective share capital Head. In this Screen you can put the amount of Reserves And Surplus under the respective Reserves And Surplus

  14. Sources And Application of Fund In this Screen you can put the amount of Secured debt under the respective Secured debt . In this Screen you can put the amount of UnSecured debt under the respective UnSecured debt .

  15. Sources And Application of Fund In this Screen you can put the amount of Sources And Application under the respective Sources And Application . In this Screen you can put the amount of Investment under the respective Investment .

  16. Fixed Assets In this screen you can see the all the fixed Assets heads as Additions ,Deduction & Depreciation etc….for the period of Current year & Previous year . Afterclicking on Go to details you will see the this screen Cost of Openig Balance CY , Cost Addition CY,Deduction CY,Cost of Closing Balance CY,Same heads as PY Same heads as Depreciation CY & PY Opening ,Additions Deuction & Closing etc.

  17. Fixed Assets Net Gross In this screen you can see the all the fixed Assets netamount heads as.for the period of Current year & Previous year . Afterclicking on Go to details you will see the this screen Cost of Openig Balance CY , Cost Addition CY,Deduction CY,Cost of Closing Balance CY,Same heads as PY Same heads as Depreciation CY & PY Opening ,Additions Deuction & Closing etc.

  18. Additional Details – Balance sheet Here you haveoption to write note description of the respective Assets forCuurent year & previous year by double clicking on the respective heads..

  19. Income Statement(Main) This is the main screen of Income Statement .Here you can write the income received from respective heads for the current year and previous year . On the left hand side there are many options as : 1.Income Statement(main) 2.Income Stemetn (Alternative) 3.Additional Details Income 4.Details of Goods (Current Year) 5.Details of Goods (Previous year ) 6.Details of Raw materials consumed (Current year) 7.Details of Raw materials consumed (Previous Year)

  20. Income Statement(Alternative) Here you can write the Alternative income received from respective heads for the current year and previous year

  21. Additional Details Income Here you can write the Additional income received from respective heads for the current year and previous year

  22. Details of Goods (Current Year) Here you can write the Detailsof Goods (Current Year ) as: 1.Class of Goods 2.Nature of Goods 3.Value of Goods Sold 4.Quantity of Goods sold 5.Value of Goods Purchased 6.Quantity of Goods Purchased 7.Stock of Goods 8.Quantity of Goods 9.Measuremenet of Goods

  23. Details of Goods (Previous Year) Here you can write the Detailsof Goods (Previous Year ) as: 1.Class of Goods 2.Nature of Goods 3.Value of Goods Sold 4.Quantity of Goods sold 5.Value of Goods Purchased 6.Quantity of Goods Purchased 7.Stock of Goods 8.Quantity of Goods 9.Measuremenet of Goods

  24. Details of Raw materials consumed (Current Year) Here you can write the Detailsof Raw materials consumed (CurrentYear ) as: 1.Class of Raw materials consumed 2.Nature of Raw materials consumed 3.Value of Raw materials consumed Sold 4.Quantity of Raw materials consumed sold 5.Value of Raw materials consumed Purchased 6.Quantity of Raw materials consumed Purchased 7.Stock of Raw materials consumed 8.Quantity of Raw materials consumed 9.Measuremenet of Raw materials consumed

  25. Details of Raw materials consumed (Previous Year) Here you can write the Detailsof Raw materials consumed (Previous Year ) as: 1.Class of Raw materials consumed 2.Nature of Raw materials consumed 3.Value of Raw materials consumed Sold 4.Quantity of Raw materials consumed sold 5.Value of Raw materials consumed Purchased 6.Quantity of Raw materials consumed Purchased 7.Stock of Raw materials consumed 8.Quantity of Raw materials consumed 9.Measuremenet of Raw materials consumed

  26. Statement of cash flow Direct Method Here you can write the Detailsof cash transactionsof receipts & payments from which actual cash is transacted named as Direct method under the respective heads as:

  27. Statement of cash flow Indirect Method Here you can write the Detailsof cash transactionsof receipts & payments from which actual cash is not transacted but effect for the same is shownin BS in directly named as in Direct method under the respective heads as:

  28. Accounting Notes Here you can write the notes by doubleclicking on repective head’s yea note. e.G If you click on Accounting Conventions- Current year you will see the following screen. Same procedure is for Previous year note & All respective heads

  29. Accounting Notes Same procedure is for Cureent & Previous year note for All respective heads

  30. Accounting Notes

  31. Accounting Notes

  32. Accounting Notes

  33. Accounting Notes

  34. Accounting Notes

  35. Accounting Notes

  36. Generate XML In this screen you can generate xml of Balancesheet & Profit & loss account. Here we are going to generate xml of Profit & Loss Account . Give the respective path to save xml.

  37. Generate XML Here we will receive the msg of xml file save successfully & will ask for validation.

  38. Generate XML First step is open MCA 21 validation tool.& open the xml file which was saved . By selecting the path xml file will ready to validate. After clicking on “open” tab.

  39. Generate XML After clicking on Open tab you will received the message as Document has been loaded successfully. Now click on validate option from file to validate xml .

  40. Generate XML If some errors founds while validating xml it will shown as shown in screen 1 Here are some points given how to interpret errors which is shown in screen 2.

  41. Generate XML

  42. Proxy Settings For Proxy Setting you will have to provide the following things: 1.Proxy Host 2.Proxy Port 3.User Name 4.Password

  43. Miscellaneous • Miscelleous option • Miscellaneous Dashboard >> database back up • Miscelleous option • Miscellaneous Dashboard >> restore Back up

  44. Miscellaneous • Miscelleous option • Miscellaneous Dashboard >> database back up . • Youcan take a backup by seleting this option .

  45. Miscellaneous • Miscelleous option • Miscellaneous Dashboard >> restoreBack up

  46. THANK YOU …….

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