XBRL Filing

XBRL stands for Extensible Business Reporting Service and it is a tool that helps to analyse the technical data in a much organised way. XBRL helps in exchanging financial information and there is no need to separate the data for the analysis. There is a need of tagging the data electronically with the designated software which allows the data to be readable.

There is no need of using the conventional platform like Excel, Word as used earlier. These tools are only used for reading the information but there were no tool which analyse the data as well.

Use of the XBRL file

  • All India listed companies and their Indian subsidiaries.
  • All companies with paid up capital of Rupees Five Cr. or above.
  • All companies with turnover of Rupees Hundred Cr. or above.
  • All Companies which are covered under (Extensible Business Reporting Language) Rules, 2011

The benefit of using the XBRL is it saves a lot and there is efficiency using the tool for managing the business technical information. This tool is seen to get the acceptance widely y the people all over the globe. Kanoonvala will assist filing the financial statements with the XBRL. It can also provide advisory services to the clients as we have the well trained and experienced experts in our team