eXtensible Business Reporting Language - Edelweiss

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History of XBRL 1 No fee for using 2 Developed and maintained by not-for-profit organization called XBRL International 3 Created in 1999 with funding from AICPA 4 Hundreds of members like accounting firms, businesses, regulators, accounting standard setters 5 Recognizes “jurisdictions” © 2011 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 17
Global Scene • Several countries have already mandated XBRL-based filing of financial statements. • In Israel, all public companies are mandatorily required to do their filing using XBRL-based interface called MAGNA. • In Japan, beginning financial year 2008-09, approximately 5,000 companies and 3,000 investment funds are compulsorily required to do their filings using XBRL-based EDINET system. • USA has already mandated XBRL-based filing for its top 500 companies effective June 2009. By the middle of 2012, all domestic and foreign companies that are publicly traded in the United States are required to provide their SEC filings using the XBRL format beginning with simple block tagging but progressing to more complex detail tagging of financial information including footnotes and schedules. • Similarly, in China, Singapore, Germany, Italy, Korea, India, etc., XBRL filing is currently mandatory for certain select companies. © 2011 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 18
Page 1 and 2: XBRL eXtensible Business Reporting
Page 3 and 4: 1. XBRL- Background 2
Page 5 and 6: Analysing Data - The Old Way ABC Lt
Page 7 and 8: Introduction to XBRL (eXtensible Bu
Page 9 and 10: How it Works (2) 8 © 2011 KPMG, an
Page 11 and 12: How it Works (4) 10 © 2011 KPMG, a
Page 13 and 14: Potential Uses (Examples) Supplier
Page 15 and 16: What the Preparer Needs 1. Taxonomy
Page 17: Example of Taxonomy - xml © 2011 K
Page 21 and 22: Regulatory development - India SEBI
Page 23 and 24: Further Information- useful website
Page 25 and 26: Advantages of XBRL Key advantages o
Page 27 and 28: How KPMG can help-The Need Some of

eXtensible Business Reporting Language - Edelweiss

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