XBRL is a tool which helps us in analyzing all financial & other technical data in a systematic manner. It makes all technical information & data readable & we would not require segregating the information for analysis. It requires tagging of all financial data electronically through software which makes data readable.
Earlier Companies in Delhi used to prepare & file all financial information in different format like word, Excel, Pdf which one can read but to analyse them, if Companies wants to have information collated at one place then they didn’t have any tool for that.
Who can benefit from using XBRL?
All types of companies can use XBRL tool to automate the data collection process and distribution to various stakeholders. User can be benefitted in the following ways:
· It’s an improved way of reporting details
· it involves automated data collection
· It provides reliable and accurate information
·It’s cost effective
· It secures the data
· It neatly curates the data and thus helps the filers with decision making.
XBRL, being extensible and flexible, can be adapted to a wide variety of requirements. All stakeholders whether they are preparers, transmitters or users of business data in the financial information supply chain can benefit from the use of XBRL.
As per section 137 of the Companies Act, 2013, following companies are required to file XBRL via E FORM AOC-4
Companies in Banking, Insurance, Power Industries and NBFC’s are exempted from XBRL Filing.
In regard to XBRL Filing following documents are need
Documents Required for Filling Financial Information Through XBRL?
Documents Required for Filling Cost Audit Report Through XBRL:
The process of share dematerialization is a simple one. The process is as follows:
We, at Registrationwala provide end to end solutions for filing XBRL Filing.
Registrationwala will file your financial statements on your behalf by generating XBRL based statements for your company.
Registrationwala in India’s dedicated Accounting Advisory Services practice provides accounting advisory services to clients across industry sectors. Our team includes professionals with experience in accounting and financial reporting principles and processes, including XBRL.
Registrationwala.com is a leading legal consultancy firm providing the comprehensive services relating to XBRL Filing.
Contact us now if you seek XBRL Filing without any hassle.