Get in Detail About XBRL Full Form

XBRL full form is a short form of an electronic business language. This one is an electronic communication business. It is very useful for the preparation, analysis, and communication of business information. Traditional business reporting does in various forms viz. Printed financials, spreadsheets, PDF documents, HTML, etc. All these forms are human-readable and can be interpreted by humans or systems with human intervention. The structure of XBRL makes an independent handling and processing of business data platforms. It supports all the standard functions involved in collecting, storing, and using business data. Xbrl allows financial data producers and users to free resources from time-consuming manual operations such as data comparison, assembly, and X-entry. Xbrl is an electronic language to express, report, or file financial statements by Companies. Nowadays most businesses are using xbrl financial statements. With this language, anyone can report around the world. Due to its scalable nature, we can customize it to meet specific business needs, even at the level of individual organizations. XBRL reporting is more accurate and more efficient. Full form stand’s for ‘eXtensible Business Reporting Language’. Xbrl meaning is it is an electronic language that is useful for business purposes anywhere worldwide and for transmitting information via the Internet. Xbrl is developed for communicating information between businesses and other users of financial information. Under Section 137 of the Companies Act, 2013 the following categories of companies are required to file their financial statements and other documents with the Registrar in e-Form AOC-4 XBRL: However, non-banking financial companies, housing finance companies, and companies that are engaged in the business of banking and insurance are exempted from filing financial statements under this rule. Furthermore, companies that have filed their financial statements in XBRL under Section 137 should continue to file their financial statements and other documents in XBRL even if they cease to fall under the category of companies mentioned above. People are not aware of the Xbrl, even they don’t know about xbrl full form. That’s why it is very important for every businessman to getting know about what is xbrl? These companies are exempted from XBRL Filings- 1. Non-Banking Financial Companies 2. Insurance Companies 3. Banking Companies 4. Housing Finance Companies Documents required for filing xbrl ‘Extensible Business Reporting Language’ under the companies act, 2013- As per the taxonomy of the Ministry of Company Affairs, the complete set of annual reports must be in XBRL format. For standalone and integrated reports, separate sample papers must be prepared. For XBRL filing, the following elements of the annual report are required: People are now mostly searching on google about the XBRL full form. Here we will go through all those steps necessary for the filing of the Xbrl under the companies act 2013 of India: Step 1: Creation an instance document XBRL Step 2: Download the validation tool of XBRL from the MCA portal Step 3: Use that tool for validation of the instance document Step 4: scrutinizing all the validated instance documents through the tool Step 5: Attach those instance documents to the Form of AOC-4 XBRL Step 6: Submit that Form AOC-4 XBRL on the MCA portal ‘Extensible Business Reporting Language’ which is XBRL Full form. Taxonomy is a mapping of financial statement data. A taxonomic element (used interchangeably) refers to a member defined in a taxonomy. For example, the concept of gross profit of Taxonomy. The disclosure management mapping tool represents taxonomy concepts in a tree-view structure. The Disclosure Management Mapping Tool enables the mapping of taxonomic concepts to data in Microsoft Office documents. Different business reporting purposes will require different Taxonomy. Some national jurisdictions may require their reporting classifications to reflect local accounting and other reporting regulations. . Rather than XBRL Full form people knows only XBRL. Many different organizations, including regulators, specific industries, or even companies, may require Taxonomy or Taxonomy extensions to meet their own specific business reporting needs IFRS is one of it’s example : Today people are changing and also trying to get know about this XBRL full fom. XBRL is ‘Extensible Business Reporting Language work’. XBRL is a standardized computer language that businesses use to transmit information. The language has an XML base. This language is especially useful for the business world. Everyone should know about XBRL full form. Online XBRL is the leading platform for your XBRL filing Worldwide. So connect with us for more info. XBRL Full Form Stands
About Xbrl Applicability
Exemptions of XBRL ‘Extensible Business Reporting Language’:-
Procedure for Filing XBRL
About Xbrl Taxonomy
Xbrl Meaning & Feature
Feature of XBRL
Benefits of XBRL