Introduction to XBRL - WIRC to XBRL.pdfINTRODUCTION TO XBRL WHAT IS XBRL? XBRL or Extensible Business Reporting Language is an open standard which supports information modeling and

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  • XBRLEXPLORED

    Knowledge partner

    Simplifying XBRL!

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    Contents

    INTRODUCTIONTOXBRL........................................................................................................................................4

    WHATISXBRL?...................................................................................................................................................4

    HOWXBRLWORKS?........................................................................................................................................4

    XBRLGOVERNINGSPECIFICATIONS................................................................................................................7

    GENERALXBRLREPORTINGFRAMEWORK.....................................................................................................7

    ADVANTAGESOFXBRL.......................................................................................................................................8

    AUTOMATEDDATAPROCESSING...................................................................................................................8

    STANDARDISATIONOFINFORMATION...........................................................................................................8

    COSTSAVINGS................................................................................................................................................8

    MULTILANGUAGECAPABILITY.......................................................................................................................8

    TIMESAVINGS.................................................................................................................................................8

    DATAANALYSIS...............................................................................................................................................9

    USESANDMYTHSABOUTXBRL......................................................................................................................9

    GLOBALXBRLINITIATIVES................................................................................................................................10

    GLOBALREGULATORYREPORTINGAPPROACHES........................................................................................10

    XBRLININDIA...............................................................................................................................................12

    OTHERMAJORXBRLIMPLEMENTATIONS....................................................................................................12

    UK.................................................................................................................................................................13

    CHINA............................................................................................................................................................14

    IFRSTAXONOMY...........................................................................................................................................14

    XBRLBASICS..........................................................................................................................................................15

    TAXONOMY...................................................................................................................................................15

    SCHEMA........................................................................................................................................................16

    LINKBASES.....................................................................................................................................................16

    INSTANCEDOCUMENT.................................................................................................................................17

    IMPORTANTFILEEXTENSIONS......................................................................................................................17

    PROCESSOFCREATINGXBRLDOCUMENTS.........................................................................................................18

    MAPPING..........................................................................................................................................................18

    TAGGING...........................................................................................................................................................19

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    VALIDATION......................................................................................................................................................20

    RECENTDEVELOPMENTSINTHEXBRLSTANDARD..............................................................................................21

    INLINEXBRLSPECIFICATIONOVERVIEW...........................................................................................................21

    FORMULASPECIFICATIONOVERVIEW..............................................................................................................21

    MCAMANDATE....................................................................................................................................................22

    WHATTOFILE...................................................................................................................................................22

    COVERAGE........................................................................................................................................................22

    EXCLUSIONS......................................................................................................................................................22

    TIMELINES.........................................................................................................................................................22

    IMPLEMENTATIONAPPROACHOFXBRLINMCA.............................................................................................22

    BUSINESSRULESANALYSED.................................................................................................................................23

    XBRLGLOSSARY....................................................................................................................................................24

    APPENDIX1INDIANTAXONOMIES....................................................................................................................28

    INDIANGAAP2011TAXONOMY...................................................................................................................28

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    INTRODUCTION TO XBRL

    WHAT IS XBRL?

    XBRLorExtensibleBusinessReportingLanguageisanopenstandardwhichsupportsinformationmodelingandtheexpressionofsemanticmeaningcommonlyrequiredinbusinessreporting.XBRLisXMLbased.ItusestheXMLsyntaxandrelatedXMLtechnologiessuchasXMLSchema,XLink,XPath,Namespaces,etc.toarticulatethissemanticmeaning.OneuseofXBRL is todefineandexchange financial information,suchasa financialstatement.TheXBRLSpecificationisdevelopedandpublishedbyXBRLInternational,Inc.(XII).1

    XBRLisastandardsbasedwaytocommunicatebusinessandfinancialinformation.Thesecommunicationsaredefinedbymetadatasetoutintaxonomies.Taxonomiescapturethedefinitionofindividualreportingconceptsaswellastherelationshipsbetweenconceptsandothersemanticmeaning.2

    HOW XBRL WORKS?

    XBRLworks inasimilarwayasproductbarcodes.IncaseofXBRL, just likebarcodingproducts,webarcode(markup or tag) line items (reported business concepts) within the statements, schedules (notes toaccounts) or other business information using a standard list/dictionary of business concepts, called asTaxonomiesinXBRL.ExamplesofsuchdictionariesortaxonomiescouldbeINGAAPC&ITaxonomy,USGAAPTaxonomyortheIFRSTaxonomy.

    Suchcoded/taggedbusinessinformationcanbe:

    Singleormultiplefacts(Profit,TotalAssets,NumberofEmployees,AnnualProductionetc.) Textualinformation(TextblockswithinNotestoAccountsetc.)

    Fig.1. Asampleproductbarcode

    Figure1abovedepictshowatypicalproductbarcodeappears.Barcodesstoresimportantinformationabouttheproductsuchas:

    Nameoftheproduct Priceoftheproduct Manufacturingdate DateofExpiry Quantity,etc.

    As illustrated in the example of barcodes, important information about the business facts reported by acompanyintheirfinancialscanbecapturedusingXBRL.Fore.g.NetProfitorLossreportedbythecompanyinitsfinancialscanbecapturedinXBRLinthefollowingmanner:

    1Source:http://xbrl.squarespace.com/storage/WhatIsXBRLSummary20080517.pdf2Source:http://xbrl.squarespace.com/storage/WhatIsXBRLSummary20080517.pdf

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    FactValue 2,456 Thefactreportedbytheentityintheirfinancials.EntityName ABCLtd. NameofreportingEntity.FactName ProfitLossBalance Signifieswhatisbeingreported.Intaxonomies

    thesearecalledaselementsorconceptsPeriod YearEndedMarch31,2010 Signifieswhatperiodthefactpertainsto.Scaling Inthousands Signifiesifthevaluehasbeenreportedasactual,

    inthousands,inlacsorcrores,etc.Units IndianRupees Signifieswhetherafactisamonetary(i.e.inINR,

    USD,GBPorEUROetc.)shares,ratioetc.Definition Theprofitorlossderivedafter

    deductingallexpenses,incurredforearningrevenuesfromthetotalrevenues.Suchprofitorlossisbeforeanyappropriationsorwritebacksofreservesandalsobeforedistributionofanydividends,ifany.Expensesandrevenuesincludesextraordinaryandpriorperioditems

    Givesadetaileddescription/definitionoftheconceptgenerallyavailablewithinthetaxonomy.

    References a. CompaniesAct,1956;ScheduleVI;PartII;2(a)

    b. SEBIListingAgreement;Clause41;AnnexureI

    Accountingreferences.

    It is clear from the above example how XBRL

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