XBRL filing

You are here: XBRL filing

What is XBRL ?

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

How XBRL works?

XBRL can show how items are related to one another. It can thus represent how they are calculated. It can also identify whether they fall into groupings for organizational or presentational purposes. Most importantly, XBRL is easily extensible, so companies and other organizations can adapt it to meet a variety of special requirements.

The rich and powerful structure of XBRL allows very efficient handling of business data by computer software. It supports all the standard tasks involved in compiling, storing, and using business data. Such information can be converted into XBRL by suitable mapping processes or generated in XBRL by software. It can then be searched, selected, exchanged or analyzed by computer, or published for ordinary viewing.

Benefits of XBRL

XBRL offers major benefits at all stages of business reporting and analysis. The benefits are seen in automation, cost saving, faster, more reliable, and more accurate handling of data, improved analysis and in better quality of information and decision-making. All types of organizations can use XBRL to save costs and improve efficiency in handling business and financial information. Because XBRL is extensible and flexible, it can be adapted to a wide variety of different requirements. All participants in the financial information supply chain can benefit, whether they are preparers, transmitters, or users of business data.

XBRL enables producers and consumers of financial data to switch resources away from costly manual processes, typically involving time-consuming comparison, assembly, and re-entry of data. They can concentrate effort on analysis, aided by software which can validate and manipulate XBRL information.

Applicability of eXBRL (Extensible Business Reporting Language)

  1. All companies listed with any Stock Exchange(s) in India.
  2. Subsidiaries on any company listed with any Stock Exchange(s) in India.
  3. All companies having Paid up Capital of Rupees 5 Crore (Five Crores) and above.
  4. All companies having Turnover of Rupees 100 Crore (One Hundred) crores and above.

Companies Exempt from XBRL requirements:

  1. Banking Companies- That are regulated by RBI
  2. Insurance Companies- That are regulated by IRDA
  3. Power Companies
  4. Non-Banking Financial Companies

WHY ARISTOTLE

  • One stop solution for all your needs related to legal and Compliances.
  • Efficient and effective handling of entire process within defined SLA and TAT
  • We work with our clients as partners and take full ownership end to end of deliverables
  • We not only advise about what to do but we roll up our sleeves and say let us make it work together