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eXtensive Business Reporting Language

Ensure your company's compliance with the MCA Circular on XBRL filing for the fiscal year 2010-11. This comprehensive guide outlines the approach, processes, and responsibilities involved in converting financial statements to XBRL format. Applicable to listed companies and their subsidiaries with certain capital and turnover thresholds, it details steps from manual preparation of reports to final submission to MCA21. Understand the critical deadlines, exclusion criteria, and how to navigate the tagging and validation process to streamline your reporting.

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eXtensive Business Reporting Language

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  1. eXtensive Business Reporting Language The way forward to Business Reporting

  2. Contents • MCA Circular • Approach • Process of Conversion • Roles & Responsibilities • Way Forward

  3. MCA Circular • Filing of Balance Sheet & Profit & Loss Account in electronic format (XBRL) mandatory for the year 2010-11: • Applicable to Companies • Listed in India and their subsidiaries, (excluding overseas subsidiaries); • Having a paid up capital of Rs. 5 Crore • Turnover of Rs 100 crore or above .

  4. MCA Circular • Not Applicable to Companies • Banking companies • Insurance companies • Power companies • Non Banking Financial Companies (NBFCs). • Last day for filing 30th September 2011

  5. Approach • Prepare Balance Sheet, Profit & Loss Account, Schedules manually • Understanding the taxonomy given by MCA • Submit necessary information for tagging. • Getting the XBRL File Prepared and validated. • Final Sign Off of XBRL File • File XBRL with MCA21 Website • Outsource the entire project

  6. Process of Conversion to XBRL DurgaRao & Co Deliver BS, P&L, Schedules Tags Instance Doc. Excel Output Company Quality Check Deliver Render for viewing Seek Clarifications Clarify to DurgaRao & Co Deliver XBRL, Excel File Opt2: File XBRL MCA 21 Opt1: File XBRL Directly

  7. Company ‘s Responsibilities • Prepare and Deliver the Balance Sheet, Profit & Loss a/c and other info. • Coordinate with Durga Rao & Co for any specific issues or requirements. • Formalize procedure for sending data to Durga Rao & Co till the completion of XBRL filing. • Verify tagging of done by Durga Rao & Co & resolve issues • Getting the XBRL File audited by statutory auditors • Final sign-off of XBRL Document along with Secretarial Dept • File the document with MCA21 (Option1) • Confirm the XBRL File to DurgaRao & Co. for filing with MCA21 (Option2)

  8. Our Responsibilities • Mapping of Annual accounts of Company and its subsidiary, associate and joint venture companies with MCA taxonomy. • Tagging of BS, P&L, Schedules, Notes to accounts, etc. on the basis of mapping done • Hold discussions with Company on the issues in mapping and tagging before creation of Instance Document • Verification of instance document in all respect including the correctness of mapping / tagging. • Facilitate smooth filing in ROC’s portal (Option1) • File it in MCA21 and deliver Ack. To Company (Option2)

  9. XBRL is the way forward to Business Reporting Thank You

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