eXtensible Business Reporting Language - Edelweiss

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Indian Scene • XBRL India is a provisional jurisdiction of the XBRL International created by The Institute of Chartered Accountants of India (ICAI) to spearhead the promotion and adoption of XBRL in India. • Members of XBRL India include the premier organisations like Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Ministry of Corporate Affairs (MCA), Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE), Insurance Regulatory and Development Authority (IRDA). • XBRL India (under ICAI leadership) has developed an Indian GAAP Taxonomy. • Exposure draft of a banking taxonomy complying with Basel-II <strong>Reporting</strong> Requirements was also published a few months back and, further, it has received acknowledged status from the XBRL International. • Taxonomy for non-banking financial companies is also in the offing. • Optional filing notified by NSE. • Certain RBI forms mandatory. • Several organizations have adopted XBRL. © 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. 19
Regulatory development - India SEBI • Filing of specified information by listed companies through XBRL enabled technology viz. the Corporate Filing and Dissemination System (CFDS) Stock exchanges • The BSE and NSE, have already adopted an XBRL-based reporting system under a unified electronic platform popularly known as the ‘CorpFiling’ system. • Currently, the top 100 companies in India are using ‘CorpFiling’ to submit their disclosures to the two exchanges. Ministry of Corporate Affairs • Project MCA-21 using XBRL targets to create an information sharing platform with regulators and ministries to provide an early warning system for the ministry. • The MCA, has resolved to implement XBRL for all companies in India from 2011. © 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. 20
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 and 18: Example of Taxonomy - xml © 2011 K
Page 19: Global Scene • Several countries
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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