This is common, even between businesses that share the same financial software products. This inconsistency makes it difficult for organizations to share information reliably or cost effectively when performing many aspects of their business, including applying for credit, reconciling accounts, or reporting to investors, or many other common activities.
In the phase I, a sizable portion of domestic banking business 7 returns of the Indian banks was covered and the XBRL taxonomy developed in this process provided a considerable coverage of elements pertaining to reporting of information of Indian domestic banking system.
All the scheduled banks in India were required to report through this platform. In this phase, out of nearly different returns for the banks and non-bank entities, 42 have been decided to be taken up. It is expected to be complete by All companies listed in India and their Indian Subsidiaries; 2.
All companies having a paid up capital of Rs. All companies having a turnover of Rs. This taxonomy has been developed to enable companies prepare their financial statements, viz.
With the change in the format for preparation of the financial statements viz. For this purpose, they will use ICAI taxonomy in so far as financial statements are concerned.
The terms of reference of X-TAC are as under: Study in detail the technical requirements for the abovesaid platform. Advise SEBI in the entire process of tendering, evaluation of bids, selection of vendors etc.
Provide technical advice on other incidental matters. XBRL International is a global not for profit operating in the public interest.
Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.The Australian Government's Standard Business Reporting project announced in August , XBRL can improve the reporting of business information in a number of ways.
However, This in turn will affect the information systems DEAKIN BUSINESS REVIEW. hot topic internationally with local prominence -the Business. iXBRL, also known as Inline XBRL, is often seen as a step ahead of XBRL, as data captured through iXBRL is much easier for humans to read.
This is because iXBRL documents can be opened through a normal web browser, whereas XBRL documents can only be read through an XBRL viewer. XBRL Europe has launched a new Working Group, co-chaired by Frans Hietbrink from XBRL Netherlands and Elina Koskentalo from XBRL Finland, to identify and provide guidance on best practices regarding the implementation of Standard Business Reporting.
Standard Business Reporting is a group of international programs instigated by a number of governments to reduce the regulatory burden for The NTP created an XBRL taxonomy that "enables businesses to generate the required reporting information directly from their own records and the government to then process this information efficiently.
iXBRL, or Inline XBRL, is an open standard that enables a single document to provide both human-readable and structured, machine-readable data. Click on the image to explore this statement using a very simple interactive iXBRL viewer.
by providing the open data exchange standard for business reporting. Home. The Standard; The . Standard application for processing business reporting in XBRL format. Semansys XBRL Integrator is an advanced processing facility for receivers of business reports and financial statements in XBRL .