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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XBRLEXPLOREDKnowledge partner Simplifying XBRL! 2ContentsINTRODUCTIONTOXBRL........................................................................................................................................4WHATISXBRL?...................................................................................................................................................4HOWXBRLWORKS?........................................................................................................................................4XBRLGOVERNINGSPECIFICATIONS................................................................................................................7GENERALXBRLREPORTINGFRAMEWORK.....................................................................................................7ADVANTAGESOFXBRL.......................................................................................................................................8AUTOMATEDDATAPROCESSING...................................................................................................................8STANDARDISATIONOFINFORMATION...........................................................................................................8COSTSAVINGS................................................................................................................................................8MULTILANGUAGECAPABILITY.......................................................................................................................8TIMESAVINGS.................................................................................................................................................8DATAANALYSIS...............................................................................................................................................9USESANDMYTHSABOUTXBRL......................................................................................................................9GLOBALXBRLINITIATIVES................................................................................................................................10GLOBALREGULATORYREPORTINGAPPROACHES........................................................................................10XBRLININDIA...............................................................................................................................................12OTHERMAJORXBRLIMPLEMENTATIONS....................................................................................................12UK.................................................................................................................................................................13CHINA............................................................................................................................................................14IFRSTAXONOMY...........................................................................................................................................14XBRLBASICS..........................................................................................................................................................15TAXONOMY...................................................................................................................................................15SCHEMA........................................................................................................................................................16LINKBASES.....................................................................................................................................................16INSTANCEDOCUMENT.................................................................................................................................17IMPORTANTFILEEXTENSIONS......................................................................................................................17PROCESSOFCREATINGXBRLDOCUMENTS.........................................................................................................18MAPPING..........................................................................................................................................................18TAGGING...........................................................................................................................................................193VALIDATION......................................................................................................................................................20RECENTDEVELOPMENTSINTHEXBRLSTANDARD..............................................................................................21INLINEXBRLSPECIFICATIONOVERVIEW...........................................................................................................21FORMULASPECIFICATIONOVERVIEW..............................................................................................................21MCAMANDATE....................................................................................................................................................22WHATTOFILE...................................................................................................................................................22COVERAGE........................................................................................................................................................22EXCLUSIONS......................................................................................................................................................22TIMELINES.........................................................................................................................................................22IMPLEMENTATIONAPPROACHOFXBRLINMCA.............................................................................................22BUSINESSRULESANALYSED.................................................................................................................................23XBRLGLOSSARY....................................................................................................................................................24APPENDIX1INDIANTAXONOMIES....................................................................................................................28INDIANGAAP2011TAXONOMY...................................................................................................................284INTRODUCTION TO XBRL WHAT IS XBRL?XBRLorExtensibleBusinessReportingLanguageisanopenstandardwhichsupportsinformationmodelingandtheexpressionofsemanticmeaningcommonlyrequiredinbusinessreporting.XBRLisXMLbased.ItusestheXMLsyntaxandrelatedXMLtechnologiessuchasXMLSchema,XLink,XPath,Namespaces,etc.toarticulatethissemanticmeaning.OneuseofXBRL is todefineandexchange financial information,suchasa financialstatement.TheXBRLSpecificationisdevelopedandpublishedbyXBRLInternational,Inc.(XII).1XBRLisastandardsbasedwaytocommunicatebusinessandfinancialinformation.Thesecommunicationsaredefinedbymetadatasetoutintaxonomies.Taxonomiescapturethedefinitionofindividualreportingconceptsaswellastherelationshipsbetweenconceptsandothersemanticmeaning.2HOW 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. AsampleproductbarcodeFigure1abovedepictshowatypicalproductbarcodeappears.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.pdf5 FactValue 2,456 Thefactreportedbytheentityintheirfinancials.EntityName ABCLtd. NameofreportingEntity.FactName ProfitLossBalance Signifieswhatisbeingreported.IntaxonomiesthesearecalledaselementsorconceptsPeriod YearEndedMarch31,2010 Signifieswhatperiodthefactpertainsto.Scaling Inthousands Signifiesifthevaluehasbeenreportedasactual,inthousands,inlacsorcrores,etc.Units IndianRupees Signifieswhetherafactisamonetary(i.e.inINR,USD,GBPorEUROetc.)shares,ratioetc.Definition Theprofitorlossderivedafterdeductingallexpenses,incurredforearningrevenuesfromthetotalrevenues.Suchprofitorlossisbeforeanyappropriationsorwritebacksofreservesandalsobeforedistributionofanydividends,ifany.ExpensesandrevenuesincludesextraordinaryandpriorperioditemsGivesadetaileddescription/definitionoftheconceptgenerallyavailablewithinthetaxonomy.References a. CompaniesAct,1956;ScheduleVI;PartII;2(a)b. SEBIListingAgreement;Clause41;AnnexureIAccountingreferences.It is clear from the above example how XBRL captures all the important information related to the factsreported within the company financials and make it possible for computers to be able to process thisinformation.AtaggedXBRLsnippetfortheabovefactwouldappearasgivenbelow:2456000Where,in-gaap:ProfitLossBalanceistheconceptornameofthefact,thevalueofcontextRefdeterminesperiodandentitytowhichthereportedfactbelongsto,thevalueofunitRefdeterminesunitsandthevalueofdecimalsdeterminesthescaling.In XBRL/XML terminology is termed as the opening tag and istermedastheclosingtag. ThespecialcodescontextRef, decimals and unitRef aretermedasitsattributes.EachuniquecontextRefisdefinedfurtherupintheXBRLinstanceinthefollowingformat:6A123456789A123456789Z2009033120100331 Where,Context declaresuniquecontextreferencesthatcanbeusedthroughouttheXBRL instancetorefertotherequiredperiod,identifier identifiestheentitytowhichthiscontextisattached,startDate and endDate ideintifies theperiodofthecontext. What computer understands from the above two tagged snippets is that there is a concept calledProfitLossBalanceandhasthecontentof2456thathasbeenreported inINRthousandsforABCCo.Ltd.entity(identifiedbytheuniqueidentifierA123456789A123456789Z)withfiscalperiodendingMarch31,2010.7XBRL GOVERNING SPECIFICATIONS Therearerulesforeverylanguage,thoseruleshelpineradicatingcommunicationgap,sothattheinformationiseasilyunderstoodbyallwhohearorreadaboutit.SimilarlyinXBRLtoensurethedataisunderstoodbyrecipientstherearerulesdefinedforit,thoserulesaredefinedandarecategorizedunderfollowingtopics:XBRL2.1specification Itdefinesthesyntax,howshouldXBRLdocumentsbestructuredandinwhatformattheyshouldbe.ItissimilartoHTMLcreationrules,everyXBRLdocumentmustbeconstructedincompliancewith2.1specifications.FRTA FinancialReportingTaxonomyArchitectureLaysdowntherulesforconstructionofthetaxonomies.FRIS FinancialReportingInstanceStandardsLaysdowntherulesforconstructionofInstancedocuments.DimensionsSpecification1.0 Laysdowntherulesastohowthedimensionalinformationismodeledandconstructed.FormulaSpecification1.0 DeterminesifthebalancetypeoftheelementisDebit/CreditSubstitutionGroup Howformulaesarecreatedandrulesincludingthesyntaxthathastobecreated.InlineXBRL(Rendering)SpecificationWhatwillbethesyntaxrulesforinlineXBRLdocuments.GENERAL XBRL REPORTING FRAMEWORK31. Core taxonomy (or structure of tagging elements) should be predefined by current financialreporting standards, including generally accepted accounting principles and other regulatorydisclosureandreportingrequirements.2. Taxonomy extensibility shouldmaintain the level of data comparability as defined byGAAP andotherregulatoryrequirements.3. Ultimately,companiesshoulddeliverrequiredfinancialreportstoregulatorsusingtheestablishedXBRLframework.4. ThegeneralpublicshouldhaveequalaccesstotheXBRLtaggedinformation.5. Regulatorsshoulddevelopthenecessaryinfrastructureandprotocoltoensurethedatasubmissioncarrieson smoothly. (E.g. SEChas timelyupdated the taxonomyand their infrastructure, initiallytherewerelotsofissuesinpreviewingtheXBRLoutputaslotofdatawasnotgettingrendered,butSEChasonaregularbasisupdatedthepreviewerandensuredthatallproblemsfacedbythefilersareresolved.)3Source:CFAInstitute8ADVANTAGES OF XBRL Therearemanyadvantages4ofXBRL,thekeyonesarelistedbelow:AUTOMATED DATAPROCESSINGTag itonceanduse it repeatedly.There isa lotof common information,which is required in the financialreporting by the entities, but the same have to be rekeyed every time. But with XBRL if one tags allinformationonce,cancreatetheirowncustomextendedlinksandjustretrievetherequiredinformationandgeneratea report, since thedata ismachine readable. Inadditionone could createbusiness rulesalso foridentifyingtheconcepts,mostoftheentitieswouldcontinuetousethesamelabels(Descriptionofconcepts)yearonyear,theycouldbeeasilybeidentifiedandtagged,referringthesourcedocument.Regulatorscanalsosee whether data submitted meets the requirements and includes all standard information (nothingmandatoryismissedout)withautomationandsysteminplace.STANDARDISATIONOF INFORMATION Itisverydifficultfortheregulatorstoanalysethedata,duetotwomainreasonsa)FormatthedatareceivedisinmultipleformatslikePDF,WORD,EXCEL,HTMLorTxt.WithXBRLthisissuecanberesolved,sinceXBRLdatacanbereadbyanysystem.b)Reporting is verynonstandard, since companysuse theirown terminology,withXBRL this issue canberesolved,companycanstillcall itsfinancialconceptsbythenametheywantto,but iftheybasicallyarethesamethensametagwillbeused.E.g.ACompanycallsitTangibleAssetsandBCompanycallsitFixedAssetsnowconceptissame,fromaccountingperspectivebotharesame,hencesametagwillbeused.Finallyregulatorscancreatetheirownstandardtemplateandhaveallthedatathewaytheydesire.COST SAVINGS Tag itonce,use itmultipletimesandautomate,theglobalexperiencealsosuggeststhesamethingthatthetimespentoncreationofreportssubsequenttimeisverylesscomparedtothefirsttime.Andcompaniescanfocusmoreonthedecisionmakingandcomplianceaspects.MULTILANGUAGECAPABILITY Createitonce,andgetthedatainyourownlanguage,fore.g.IFRStaxonomyisavailablenotonlyinEnglishbutalsoSpanish,KoreanandArabicLanguagesandmanymore.TIME SAVINGS InXBRLallthedataisclassifiedandmachinereadableonejustneedstoknowwhatonewantsandthoushallhaveitinseconds!4Source:http://www.ehow.com9DATA ANALYSISSincethedata ismachinereadable itbecomesveryeasyforanalystsanduserstorundataanalysisasXBRLData is machine readable focus can immediately start on analysis rather than data gathering and dataformatting.USES AND MYTHS ABOUT XBRLUSES51. Companyinternalandexternalfinancialreporting.2. Businessreportingtoalltypesofregulators,includingtaxandfinancialauthorities,centralbanksandgovernments.3. Filingofloanreportsandapplications;creditriskassessments(Capitaladequacyrequirements)4. Exchangeof informationbetweengovernmentdepartmentsorbetweenother institutions,suchascentralbanks.5. Authoritativeaccounting literature providingastandardwayofdescribingaccountingdocumentsprovidedbyauthoritativebodies.6. A wide range of other financial and statistical data which needs to be stored, exchanged andanalyzed.MYTHS1. XBRL imposes reporting and regulatory burden on the reporting companies. It is an informationexchangestandardandnotanaccountingstandard.2. Taxonomies always make use of generic concepts; specific concepts cannot be tagged usingtaxonomies. Companies have an option to create their company specific concepts (provided it isapprovedbytheregulator,SECallowsextensions,HMRCdoesntimmediately)3. XBRLcannotdisclosetheinformationthewaycompanyreports.Itisnotaboutdisclosingactuallybutpresenting(withInlineXBRLthisissuehasbeenovercome)4. XBRL is cure for all accounting problems. Its just an information exchange standard, if sourcedocumentisincorrectdestinationwillalsobeincorrect;howeverwithXBRLitcansurelyincreasethechancesofidentifyingincorrectinformation.5 Source:http://www.xbrl.orgGLOBAXBRLisgbodies,eGLOBAXBRLimpOpen TacreationconceptsfilingcomallowscrCloseTaxtheircusnotbetanot exist6Source7Approaincludi8ThereaIFRSdoL XBRL INITettingadopteeveryoneistaL REGULATplementationaxonomies ofa structursarenotpresmprisesofXBreationofcustxonomiesTstomelementagged.Thedtwithin the te:http://www.xbachesdiscussedwngRBIforBaselIarecertainrestricoesntacceptSegTIATIVES edinvariousclkingaboutXBTORY REPORacrossthegloThey allow mrealtogetherentinthetaxBRLdocumenttomelementsTheyallownos; ifanapproisadvantageitaxonomy. Thbrlplanet.orgwillbeaboutFinRIIFilings.ctionsplacedbyagments.countriesfromBRL.Fig.5.RTINGAPPobecanbroadmaximum cuseparately8i.exonomy)andmtandlinkbases,unitsandlinocustomizatioopriateconcescriticalinfohe filing comRep(FinancialRepallregulators,wh10msecuritiesreXBRLonagloROACHES7dlybeclassifiestomization te.extensionsmodifyingtheeswiththescnkbases.onof taxonomptdoesnotermationforthprises of XBporting)notCoReheremultipleappegulators,stocobalmap6edundertwoto the filers(Creating comestructure,crchemafile.E.gmy to the fileexist inthetahecompanymBRL documentep(CommonRepproachesarepossckexchangescategories.(entitys repmpany specifreationofcusg.SEC(usingUers.Further thxonomythenmaybemisset only. E.g.porting)whichisusiblefore.g.SECandprimeaccorting). Thesfic conceptswtomisedlinkbUSGAAPTaxohe filerscannnthe informated,astheconHMRC and CusedmostlybybadoesntacceptSccountinge requirewhere thebases.Theonomy),itnotcreatetionneednceptmayompaniesankscenarios,11house, both accept filings in their respective taxonomies, like UKGAAP, UKIFRS and Companies Housestaxonomy.SEChasmandatedXBRL,whereasUKisgoingtheiXBRLway.Belowtablesummarizestwomajorglobalmandates;HMRCiXBRLmandate(U.K.)9 SECXBRLmandate(U.S.)10 AllcompaniesandsomeotherentitiesunderdifferentactsfilinginiXBRLformatstartingApril2011 PhasedXBRLimplementationplanspreadover3yearsstarting2009onlyforcertainentities,andby2011thescopecoversallfilers. Whattotag?Allindividualaccountscomponentsincludingthecomparativefiguresmustbetagged.(coversindividualfinancialstatements,notes,directorsreportandauditorsreport) Scopeoftaggingisinaphasedmanner,definedbyLevelsoftaggingi.e.I,II,III&IV.11(coversfinancialstatementsandnotes) GuidelinesprovidedtofilerstoensureaccuracyandXBRLcompliance GuidelinesprovidedtofilerstoensureaccuracyandXBRLcompliance TestfilingssubmittedtoCompaniesHouseandHMRCtoverifyXBRLdocuments OnlinetestfilingandpreviewingportalforfilerstovalidateandviewXBRLfilingswiththeSECbeforefinalsubmission Filingsdonethroughsecureonlineportalandautomatedfilingsthroughsoftwareinterface SecureonlinefilingsportalrequiresXBRLfilingstobesubmittedasExhibitstoexisting10Q/10KfilingsformattotheSECEDGARsystem ProvidesonlineFAQs,sampleXBRLdocumentsandotherdocumentation SECprovidesanXBRLportaltohelpfilersviewdocumentation,guidelinesandfilingssubmittedbyotherpubliccompanies9Source:http://www.hmrc.gov.uk/ct/ctonline/filereturn/switching.htm10Source:http://www.sec.gov/rules/final/2009/339002.pdf11Source:InthefirstyearofcomplianceonlylevelIrequirementsaretobecompliedwith,yeartwoonwardstagginglevelII,III&IVarerequired.12XBRL IN INDIASTOCKEXCHANGES&SEBIUnified Electronic XBRL Enabled Filing Platform used by two stock exchanges i.e. BSE&NSE enabling thecompanies listed ineitherorbothoftheexchangetoelectrically filetheirdisclosuresandatthesametimehelpingtheinvestorstogetrealtimeaccess.RESERVEBANKOurcentralbankhasalreadyinitiatedXBRLfilingsforitsinternalreporting(BaselIIrequirements)fromtheBanks.ICAIIndias premier accounting body has also been involved with XBRL since past 2 years, has already beeninvolvedwithcreationoftwotaxonomiesC&IandBankingTaxonomy.MCAFilingofBalanceSheetandProfitandLossAccountineXtensibleBusinessReportingLanguage(XBRL)modeforyear 20102011 onwards. i) For All listed companies in India and their subsidiaries, including overseassubsidiaries;ii)AllcompanieshavingapaidupcapitalofRs.5CoreandaboveoraturnoverofatleastRs.100crores.12(Excludesbanking,insurance,power,NBFCsandoverseassubsidiariesofthesecompanies)OTHER MAJOR XBRL IMPLEMENTATIONSUSUS Securities regulator, Securities and Exchange commission havemandated XBRL for corporate filers andmutualfundstosubmitinformationininteractivedatainaphasedmanner.Thephasedmannerforcorporatefilersissummarisedinthebelowtable.13Whowillfile? Whattobefiled?DomesticandForeignLargeAcceleratedFilersUsingU.S.GAAPwithmarketcapitalizationabove$5BillionForm10QorannualreportonForm20ForForm40FcontainingfinancialstatementsforafiscalperiodendingonorafterJune15,2009.AllOtherLargeAcceleratedFilersUsingU.S.GAAPwithmarketcapitalizationabove$700MillionormoreForm10QorannualreportonForm20ForForm40FcontainingfinancialstatementsforafiscalperiodendingonorafterJune15,2010.AllRemainingFilersUsingU.S.GAAPQuarterlyreportonForm10QorannualreportonForm20ForForm40FcontainingfinancialstatementsforafiscalperiodendingonorafterJune15,2011.12Source:http://www.mca.gov.in/Ministry/pdf/Circular_252011_12may2011.pdf13Source:Ruledocument339002availableathttp://www.sec.gov13ForeignPrivateIssuerswithFinancialStatementsPreparedinAccordancewithIFRSasIssuedBytheIASBAnnualreportsonForm20ForForm40FforfiscalperiodsendingonorafterJune15,2011.UGT(USGAAPTaxonomy)isthemostcomprehensivetaxonomyinXBRLworldavailabletothefilerstocomplywithSEC InteractiveDataMandate, thecurrentversionof taxonomy i.e.2011 (approvedbySEC)hasabout16,500 elements14, and it has predefined hypercubes, dimensions, domain andmembers. In addition thetaxonomyalsoallowstheuserstocreatecustomelementsandrelationships.Structure:Taxonomyhasbeenmodularized,itisbroadlydividedintoGAAPandNonGAAP,theGAAPisfurthersubdividedintoStatements(FinancialStatements)andDisclosures(NotestoAccounts).Furtherthetaxonomyalsoconsistsoffiveentrypoints,comprisingof;1. CommercialandIndustrial2. BankingandSavingInstitutions3. BrokerandDealer4. Insurance5. RealEstateAlltheentrypointsarelinkedtogetherwithamasterschemafile,whichallowsuserstoselecttheelementsoftheirchoicesincasethecompanyhasdiversifiedbusiness.Ithaswidevarietyoftagsavailablefortaggingnumericvalues,datesandnarratives/textualinformation.Taxonomy is easy to use from the perspective, that each element has Documentation (definition of theconcept)whichgivesusersanideaastowhethertheconceptisappropriateornot.The concepts inUSGAAP Taxonomy also contain the referenceswith hyperlinks (for the exact reference,knownascodification)GAAPextendedlinksaredividedintoStatementsandDisclosureswhereasNonGAAPcomprisesofDocumentandEntityInformation,Country,Currency,Exchanges,Industryclassificationetc.UK HMRCUKsstatutorytaxbodyacceptscompanytaxcomputationsandaccountsinInlineXBRL15format.FilingofcomputationsandaccountsinInlineXBRLismandatoryfromApril2011onwards.CompaniesHousetheregistrarofcompanieshasbeenreceivingsimpleauditexemptaccounts inXBRLforanumberofyears.Todateithasreceivedmorethanamillionfilings.14Taxonomycanbefoundonfasb.org15InlineXBRLisHTMLembeddedXBRLDocument;itfocusesondisplayingthedataexactlythesamewayitisdisclosedbyanyentity.14UKGAAP/UKIFRSTAXONOMY16UKAccountingandTaxBodyhasmademultipleversionsofthetaxonomiesavailabletotheusers,UKGAAP,UKIFRS,CT600(ComputationofTax)andMinimumTaggingTaxonomy,Eachofthetaxonomieshavetheirdifferentpurposesalongwiththeirownpros&cons;ifcompanieswhoareIFRS compliant andwant to report to their regulator canuseUKIFRS taxonomy, if the filerprepares theiraccountsinUKGAAPthantherelevanttaxonomy(UKGAAPTaxonomy)canbereferred.HMRC theTaxbodyofUKhasmandatedcompanies tostart filingTaxComputational returnsandAccountsfrom1stApril,2011,howevertheyhaveaskedusersfortheminimumtaggingrequirements(Whichcoveronlymandatory elements) also there is an option for the filers to tagmore information thenwhat has beenmandatedusingthecomprehensivetaxonomyset.UKistheonlycountryatthispointoftimewhichisadoptingiXBRLinsteadofXBRL,inadditiontheproposedmandatesuggests initially thecompanieswillnotbe required tocreatecustomelementsand relationships,andwhen the regulator feels the companieshave enough experience, theywill start allowing the filers tocreatecustomelementsandrelationships.ThischaracteristicmakesUKGAAPTaxonomyaclosedtaxonomyStructure: The taxonomy is segregated into Statements and Disclosures, it is a modular taxonomy andsegregatesbetweenGAAPandNonGAAPConceptssimilartoUSGAAPTaxonomy.ThetaxonomyisrelativelycomplexandrequiresmediumlevelofXBRLknowledgewhenusingdimensionsandtuples,UKGAAPtaxonomyassuchmakesextensiveofuseofdimensionsandtuples.CHINAChinaSecuritiesRegulatoryCommission(CSRC)usesXBRLtocollectinformationfromthosetheyregulate.ShenzhenStockExchangehasstartedusingXBRLtocollectfinancialinformationoflistedcompanies.IFRS TAXONOMY17IFRStaxonomyreleasedbyIASBisoneofthewidelyusedtaxonomiesinXBRLworld;thetaxonomyisavailablein multiple languages (Arabic, Japanese, Chinese, Spanish and translation in many more languages is inprogress).ThecurrentversionofIFRSTaxonomyavailableforpublicuseis2011version18.Thetaxonomyhasgotpredefinedhypercubes,dimensionsandmembers.Thecurrentversionofthetaxonomyhasgotapproximately2000concepts,whichcomprisesofelementsfornumericconceptstocapturingtextualinformation.Structure:IASB19allowsuserstocustomizetheIFRStaxonomy;itprovidesanITMM(IFRSTaxonomyModulesManager)which allows theusers to create theirown entrypoint,whichmatches theirrequirements.Theorganizationof IFRS taxonomy files isby individual IFRSs/IASs. IFRS taxonomycanworkwellwhenmergedwith localGAAPTaxonomies,asthescopeofdisclosurescoversbothi.e.LocalGAAPandIFRS.16Source:http://www.xbrl.org/uk/Taxonomies/17Source:http://www.ifrs.org/XBRL/IFRS+Taxonomy/IFRS+Taxonomy.htm18http://www.ifrs.org/News/XBRL/Final+2011+taxonomy.htm19InternationalAccountingStandardsBoard15XBRLBASICSXBRL documents comprises of Taxonomy (dictionary of concepts/structure) and Instance document (databank).Arepresentationcanbeseeninthediagrambelow20:Fig.2. SchematicillustrationofXBRLTAXONOMYIt isadictionaryofbusinessconcepts(fromreportingperspective);ThewordTaxonomy isderivedfromtwoGreek verbs TASSEIN= to classify andNOMOS= law, science so literally the word taxonomymeansScience/lawofclassification.Itisthemeaningfulclassificationofallconceptsintogroups,suchaswegroupallBalanceSheet related concepts together, furtherall Assets conceptsaregrouped togetherand soareLiabilities.Fig.3. SchematicillustrationofXBRLTaxonomy20Source:http://www.ifrs.org16SCHEMA AnXBRLSchemacontains informationabouttheelementssuchastheirname, id,attributes like (datatype,balance type, substitution (for typeof information i.e. simple/complex)andperiod type) It iswhereall thebusinessconceptsaredefined.Fig.4. IllustrationofhowXBRLpropertiescanbedisplayedinXBRLprocessingapplicationsELEMENTATTRIBUTESElementattributesprovideadditionalinformationabouteachtaxonomyconcept.Followingarethemajorelementattributes21:ThedeclarationofProfitLossBalanceintheIndianGAAPtaxonomyisasgivenbelow:LINKBASESLinkbases give structure to the XBRL data, they use the elements defined in the schema file and providestructuretothoseelements.Therearedifferenttypesofstructures/linkbasesinXBRLwhicharelistedbelow: Presentationlinkbase ControlsthepresentationoftheXBRLdata.Determineshowthedatashouldbepresentedandinwhatstructure?Calculationlinkbase Definesthearithmeticalrelationshipbetweenconcepts.Theseincludesimpleadditionandsubtractionoperationsonly.Definitionlinkbase Definesthedimensionalrelationshipbetweenconcepts.Allowsusertolinkadditionalinformationtothedata.Referencelinkbase Providesguidancetotheusersofthetaxonomy,asitlinkstheconceptstotheirstatutoryreferences.Labellinkbase StoresthelabelsforXBRLConcepts.Formulalinkbase AllowsuserthefullcustomizationandcreatecustomrelationshipslikeEarningsPerShareBasic=NetProfitLoss/WeightedAverageNumberOfShares21PleasenotethatasXBRLisXMLbased,customattributescanbecreated,howevertheabovementionedarethestandardattributesgenerallyexistinginalltaxonomies.17INSTANCEDOCUMENTIt canbe called as thedataset,which consistsof all the information classifiedmakinguseof taxonomy. ItcomprisesofFact,EntityName,Period,ScaleFactorandUnit,andtheTagtowhichinformationisassociated.IMPORTANT FILE EXTENSIONS Instancedocument .xml/.xbrl22Linkbases .xmlSchema .xsd22Theextension.xbrlisrarelyused,morewidelyusedextensionis.xml18PROCESS OF CREATING XBRL DOCUMENTS MAPPINGMappingistheprocessforidentificationofelements,suchelementsareusedforcategorizingtheinformationwithinthereport.Onemayalsocallitanelementselectionprocess:Globalfilingmanual(version20110419)sumsuptheprocessasfollows:Whenchoosingthemostappropriateelementforfactsinoneormoreperiods,theelementsxbrli:periodTypeattributetakesprecedenceoverthetypeattribute,whichtakesprecedenceovertheelementsdocumentationstring,whichinturntakesprecedenceoverthelabelstring,whichinturntakesprecedenceoverlink:referenceelements.Theaboveruleforelementselectioncanbesummedupinthebelowfigure:CertainotherrulesspecifiedbyGlobalfilingmanual,areasfollows;1. Ifanelementused innumeric facts representingamounts inoneormoreperiodshasadefinition,thenthescopeofthatdefinitionmustincludetheamountsreportedforthatlineiteminthefinancialstatements.2. An elementmust not be used in numeric facts representing amounts of a line item in differentperiods if it has a definition that explicitly excludes one ormore of the amounts in the financialstatements.3. Whenthereisachoiceamongdifferentelementsthathavedefinitionsconsistentwithasetoffactsinoneormoreperiods,usetheelementwiththenarrowestdefinition.4. Ifthereisachoiceamongdifferentelementswhosetypeattributeisconsistentwithasetoffactsinoneormoreperiods,usetheelementwiththemostspecifictypeattribute.5. When there is a choice among different elements having distinct link:reference elements in astandardtaxonomy,usetheelementwiththemostspecificreference. PeriodtypeDatatypeDocumentationLabelReference19TAGGINGTaggingistheprocessofXBRLcreation,whereintheinformationisclassifiedthroughanapplicationinterfacesoastogeneratetheXBRLoutput.Thisprocessisverycriticalastheinformation,thatisbeinginputted,mustexactlymeanthesame,asitmeantinthesourcedocument.ForexampleNetincomeforperiodyearending2010isRs.10million,nowinXBRLsuppose a usermade amistake in classifying information, andwrongly scaled it to Rs. 10 thousand, thecompletemeaning changes, not onlywith the value, but also the contexts (the period applicable to thenumber)arecorrectlychosen,inourcaseitisFiscalYearEnding,2010.TherehastobeastrongQualityandAnalysisprocesstoensure,allthedataenteredintoXBRLiscorrect.Accounting bodies like AICPA have lately come out with documents like SOP 090123, such documentsenumeratestheprocessforhavinganaccurateXBRLoutput.Taggingasaprocesscouldvaryfromapplicationtoapplication,alotdependsonselectionoftheapplication,herearefewofthebasicfunctionalities,whichtheusershouldconsiderwhileselectionanXBRLapplication.24251. LookforafullyconformantXBRLprocessor:2. LookforsupportforXBRLDimensions,3. Checkwhichspecificconformancesuitesthesoftwarepasses4. Getsamplesprocessedandensurefirsthandthatthesoftwarereallyworks5. EnsurethatthesoftwarehasalltherequiredfunctionalitiestocreateXBRLinstances6. TrytogetatrialperiodcopyandbuildaprototypeEnsurethatyougetsupportfortheXBRLsoftwareyouprocure23PerformingAgreedUponProceduresEngagementsThatAddresstheCompleteness,Accuracy,orConsistencyofXBRLTaggedData24Source:http://xbrl.us/Learn/Pages/ToolsandServices.aspx25Source:http://www.hmrc.gov.uk/efiling/ctsoft_dev.htm20VALIDATION Oneofthebestgeneraldefinitionsofvalidationisasfollows;It istheprocessofdeterminingwhetherornotthestandardatagivenphaseof itsdevelopmentfulfillstheestablishedrequirements.An XBRL document can be checked for following two types of requirements, one can alternately say, avalidationtakesplaceintwostages:1. XMLwellformedness,DTSdiscoveryandXMLSchemavalidation2. XBRLvalidationandconsistencycheckingThefirsttypeofvalidationoccurssoastochecktheXMLstandards,whetherthedocumentisXMLwisevalid,thischeckappliestoalltheXBRLdocuments.The second type of validation i.e. XBRL validation and consistency checking,will comprise of checking theestablishedXBRLrules,definedinXBRL2.1specification,FinancialReportingTaxonomyArchitecture(FRTA)(italso includes the calculation checks so as to ensure arithmetical accuracy), Financial Reporting InstanceStandards,Dimensionsspecificationetc.AllofthoseareestablishedstandardsofXBRL;howeveronemayalsoaddspecificstandards,applyingtotheirregulatoryframework.E.g.CheckingSEChasdefinedadditionalsetofrulesinEdgarFilerManual,similarly,GlobalFilingManualRulescanalsobechecked.InIndianreportingscenario,therecanbespecificvalidationchecks,toensure,thatallthebusinessruleshavebeenapplied,andnothingisleftout.To sum up, validation ensures that the data is compliant and in line with its source, if there are anyinconsistencies,itwillflagthoseissuesandreportaviolation.21RECENT DEVELOPMENTS IN THE XBRL STANDARDINLINEXBRL26SPECIFICATIONOVERVIEW27SummaryInlineXBRLisastandardforembeddingXBRLfragmentsintoanHTMLdocument.TheobjectiveistoprovidedocumentswhichcanbeviewedinabrowserwhilemakinguseofXBRLtagswhichcanbeprocessedautomaticallybyconsumingapplications.ThisspecificationdefinesthesyntaxforsuchdocumentsandhowthesyntaxmapsintoanXBRLinstance.Whatisit?TheInlineXBRLspecificationissimilartoXBRL2.1specificationasitdefinesthesyntaxoftheInlineXBRLdocuments28.Conceptsarethesame,butthewaydataisstoredisdifferent.Howitworks?IntheInlineXBRLDocument,datavaluesarenestedwithinInlineXBRLElementswhicharethemselvesnestedwithinHTMLorXHTMLelements("MarkupElements").ThistechniquereliesupontheabilityofbrowserstoignoreXMLelementsthatitdoesnotrecognise.Thebrowser,ineffect,ignorestheInlineXBRLElementsanddisplaysthedatavaluesasthoughtheyweretextualcontentoftheMarkupElements.AProcessorwillignoretheMarkupElementsandcombinetheInlineXBRLElementsandthedatavaluestogenerateanXBRLinstancedocument.FORMULASPECIFICATIONOVERVIEWSummaryFormulaspecificationprovidesthesyntaxandruleswhichwillallowtheuserstoderivenewfactsfromtheexistinginformation(availableinXBRLInstancedocumentWhatisit?XBRLformulaspecificationsprovidessyntaxforexpressingrulesthatcanbeusedtderivenewfactvaluesfromthedatainXBRLbusinessreport,suchderivationoffactvaluescanbedonebywayofgenericrulesorspecificrules,e.g.CurrentRationcanbederivedbydividingcurrentassetsbycurrentliabilities,suchformulaescanbesetasgenericthenspecific.Howitworks?InXBRL,avalueinabusinessreportisidentifiablebytheinformationassociatedwiththatvalue.Theseincludetheconceptthatthevaluemeasures,theentitythatthevaluedescribes,theperiodoverwhichoratwhichthemeasurementwastaken,theunitsinwhichthemeasurementistaken,and,potentially,arangeofotheraspectsgivenmorespecificityintermsofthepartoftheentitybeingreportedonandtheotheraspectsofinformation(segment/scenarioorfootnotes)thatshouldberecognisedwheninterpretingthefact.Andsincetheinputispreclassifiedandstandard(usingGAAPandaccountingrules),usercanderivetheformulaesfromsuchinteractivedata,basedonrequirements.26InlineXBRLisastandardforembeddingXBRLfragmentsintoanHTMLdocument27Source:http://xbrl.org/Specification/inlineXBRLpart1/REC20100420/inlineXBRLpart1REC20100420.html28Alsocalled.xhtmldocumentsi.e.axmldocumentembeddedinhtmldocument.22MCA MANDATE29WHATTOFILE1. BalanceSheet2. ProfitandLossAccount3. AuditorsReport4. DirectorsReportCOVERAGE1. AllcompaniesinIndianandtheirIndianSubsidiaries2. AllcompanieshavingapaidupcapitalofRs.5croreandabove3. AllcompanieshavingaturnoverofRs.100croreandaboveEXCLUSIONS1. BankingCompanies2. InsuranceCompanies3. PowerCompanies4. NonbankingFinanceCompanies(NBFCs)TIMELINES1. CompanieshavingAGMbefore30092011arepermittedtofileupto300920112. CompanieshavingAGMinSeptember,2011arepermittedtofilewithin30daysofadoptionofaccountsintheAGM.IMPLEMENTATIONAPPROACHOFXBRLINMCA30ItisproposedtoincludeallcompaniestofiletheirBalanceSheetandProfitandLossaccountstatementsinXBRLfromFinancialYear201112onwards.WiththedevelopmentoftaxonomiesforBanks,Insurance,NonBankingFinanceCompaniesandPowersector,thecompaniesoperatinginthesesectorswouldalsobefilingtheirfinancialreportsinXBRLfromFY201112.Inordertocapturesectorspecificdetails,itisproposedtoallowforextensionsinthetaxonomybythefilersfromFY201112onwards.Ifrequired,thetaxonomieswouldbeupdatedandmaintainedwithapplicabilityofrevisedScheduleVIfrom01.04.2011.Trainingprograms,seminars,conferences,etcwouldalsobeorganizedintierIIandtierIIIcitiesbytheMinistryinassociationwithprofessionalinstitutesandindustrybodies.[Pleasenotethecircularof7thJune,cameoutlater,hencethisimplementationapproachdoesnotinclude,atthispointoftimeitstandsnotupdatedhenceAuditorsandDirectorsReportaremissing,howeverthefilingmustcontainAuditorsandDirectorsReportinXBRL.Forfinalmandatemostrecentcircularistobereferred]29Source:http://www.mca.gov.in/Ministry/pdf/Circular_372011_07jun2011.pdf30Source:http://xbrl.icai.org/2011/04/26/implementationapproachofxbrlinmca/BUSINE31SourceESS RULES BusinessRRulesCategElementsmElementsmElementsmrequisitesElementsmElementsmrequisitesNumberofmNumberofmNumberofmNumberofmelementElementsdeElementshaOthers(whiGenericruleTotalBusinee:http://xbrl.ANALYSEDRulesAnalysisgorymusthavevaluemusthavevaluemustbehavingmustbepresentmustbepresentmandatoryelemandatorytagmandatoryelemandatorytagependentonCavingdatedepichcannotbecesessRulesicai.org/wpc31Fig.8. B(IndianGAAPe>or=0e>or=0withvalue>0forctonlyforconsotonlyforconsoementsgsmusthavevaementshavinggsmusthavevaINpendentrules.categorizedabontent/uploa23usinessRuleP)otherrequisitcurrentperiodolidatedfinancolidatedfinancalue>or=0otherrequisitealueforcorresove)ds/2011/06/BesAnalysistesdwithothercials.cialswithotheesspondingGROSBusiness_RuleerSSes_Elements.pNumber1231616331531594221155111406pdf24XBRLGLOSSARY32AbstractAnattributeofanelement to indicate that theelement isonlyused inahierarchy togrouprelatedelementstogether.Anabstractelementcannotbeusedtotagdatainaninstancedocument.AttributeApropertyofanelementsuchasitsname,balance,datatype,andwhethertheelementisabstract.Attributesofstandardtaxonomyelementscannotbechanged.Axis/DimensionAn instancedocumentcontainsfacts;anaxisdifferentiatesfactsandeachaxisrepresentsawaythatthefactsmaybeclassified.Forexample,Revenueforaperiodmightbereportedalongabusinessunitaxis,acountryaxis,aproductaxis,andsoforth.ContextEntityand reportspecific information (reportingperiod,segment information,andso forth) requiredbyXBRLthatallowstaggeddatatobeunderstoodinrelationtootherinformation.DecimalInstancedocument factattributeused toexpress thenumberofdecimalplaces towhichnumbershavebeenrounded.DomainAnelement thatrepresentsanentiresetofotherelements; thedomainand itsmembersareused toclassifyfactsalong theaxisofa table.Forexample, "Maharashtra" isadomainmember in thedomain "States,"andwouldbeused toclassifyelementssuchas revenuesandassets inMaharashtraasdistinct fromotherstates.Whenafactdoesnothaveanydomainmemberspecified,thatmeansitappliestotheentiredomain.DomainmemberAnelementrepresentingoneofthepossibilitieswithinadomain.ElementXBRL components (items, domain members, dimensions, and so forth). The representation of a financialreportingconcept, including: line items inthefaceofthefinancialstatements, importantnarrativedisclosures,androwsandcolumnsintables.ElementdefinitionA humanreadable description of a reporting concept. From an XBRL technical point of view, the elementdefinition isthe labelwiththetype"documentation,"and thereare labelrelationships ina labelrelationshipsfile,butfromauserpointofviewthedefinitionisanunchangeableattributeoftheelement.32Source:http://www.sec.gov/spotlight/xbrl/glossary.shtml25ExtensiontaxonomyorextensionA taxonomy that allows users to add to a published taxonomy in order to define new elements or changeelementrelationshipsandattributes(presentation,calculation,labels,andsoforth)withoutalteringtheoriginal.FactTheoccurrenceinaninstancedocumentofavalueorotherinformationtaggedbyataxonomyelement.InstanceorinstancedocumentXML filethatcontainsbusinessreporting informationandrepresentsacollectionof financial factsandreportspecificinformationusingtagsfromoneormoreXBRLtaxonomies.ItemXBRLtechnicaltermforakindofelement.LabelHumanreadable name for an element; each element has a standard label that corresponds to the elementname,andisuniqueacrossthetaxonomy.LabeltypeAdistinguishingnameforeachdistinctelementindicatingthecircumstancesinwhichitshouldbeused;eachisgivenaseparatedefiningroletouseindifferentpresentationsituations.LineitemElementsthatconventionallyappearontheverticalaxis(rows)ofatable.LinkbaseXBRLtechnicaltermforarelationshipsfile.MappingProcessofdeterminingtheelementsthatcorrespondto linesandcolumns ina financialstatementandwhichelementsmustbecreatedbyextension.NameUniqueidentifierofanelementintaxonomy.NamespaceEvery element has a Universal Resource Identifier (URI) that identifies the organization thatmaintains theelementdefinitions,withan indicationofwhatthetermcovers. IntheXBRLUSGAAPTaxonomy,namespacesstartwithhttp://icai.org/ingaap/.Anamespaceprefixisnotthenamespace.NillableAnattributethatappearsonalltaxonomyelements,andisused(false)onelementsthat,ifusedinaninstancedocument,musthaveanonemptyvalue.XBRLtaxonomytoolsnormallyhavethedefaultvaluefornillableas"true."Thereisnoneedforanyextensiontodefineanelementwithnillable"false."26ParentchildhierarchyRelationshipbetweenelementsthatindicatessubordinationofonetotheotherasrepresentedinaprintlistingor financial statementpresentation.Relationships filesuseparentchildhierarchies tomodel severaldifferentrelationships,includingpresentation,summationofasetoffacts,andmembershipofconceptswithinadomainusedastheaxisofatable.PeriodtypeAnattributeofanelementthatreflectswhetheritisreportedasaninstantordurationtimeperiod.PrefixornamespaceprefixAshorthandsequenceoflettersforanamespace;"ingaap"forexample,isacommonprefixforthenamespacehttp://www.icai.org/ingaap/20090630.PresentationrelationshipsRelationships that arrange elements allowing them to navigate the taxonomy content in parentchild treestructures(hierarchies).ScenarioTagthatallowsforadditionalinformationtobeassociatedwithfactsinaninstancedocument;thisinformationencompasses in particular the reporting circumstances of the fact, as for example "actual or forecast." Thescenarioofanyfactcanbeleftunspecified.SchemaTechnicaltermforanelementdeclarationfile.SegmentTagthatallowsadditional informationtobe included inthecontextofan instancedocument;this informationcaptures segment information such as anentity'sbusinessunits, typeofdebt, typeofother income, and soforth.StandardlabelThedefaultlabelforanelement.Anextensionmayoverridethestandardlabel.Table/HypercubeAnelementthatorganizesasetofaxesandasetoflineitemstoindicatethateachfactofoneofthelineitemscouldbefurthercharacterizedalongoneormoreof itsaxes.Forexample, ifa line item isSalesandanaxis isScenario,thismeansthatan instancedocumentcouldhavefactsthatareeitherforanunspecifiedscenarioorforaspecificscenariosuchas"actualorforecast."TagIdentifying informationthatdescribesaunitofdata inan instancedocumentandencloses it inanglebrackets(and).Allfactsinaninstancedocumentareenclosedbytagsthatidentifytheelementofthefact.27Taxonomy,taxonomiesElectronicdictionaryofbusinessreportingelementsusedtoreportbusinessdata.Ataxonomyiscomposedofanelementnamesfile(.xsd)andrelationshipsfilesdirectlyreferencedbythatschema.Thetaxonomyschemafilestogetherwiththerelationshipsfilesdefinetheconcepts(elements)andrelationshipsthatformthebasisofthetaxonomy.Thesetofrelatedschemasandrelationshipsfilesaltogetherconstituteataxonomy.TypeordatatypeDatatypes(monetary,string,share,decimal,andsoforth)definethekindofdatatobetaggedwiththeelementname.UnitofmeasureTheunitsinwhichnumericitemshavebeenmeasured,suchasdollars,shares,Euros,ordollarspershare.ValidationProcessofcheckingthatinstancedocumentsandtaxonomiescorrectlymeettherulesoftheXBRLspecification.WeightCalculationrelationshipattribute(1or+1)thatworks inconjunctionwiththebalanceoftheparentandchildnumericelementstodeterminethearithmeticsummationrelationship28APPENDIX 1 INDIAN TAXONOMIESXBRLisbecomingaglobalphenomenaforstandardizingthewaybusinessreportingisdone,lotsofcountrieshavetakeninitiativesforadoptingXBRL,thefirstinitiativethatanycountryoraregulatorcantakeistobuilditsowntaxonomyusingitsownGAAPrequirements.Inthispart,wehavetriedtoexplaincertainmajortaxonomieswhichareusedaspartofthemandateorareproposedtobepartofamandate.INDIANGAAP 2011 TAXONOMY33C&I342009TaxonomyStructure:ThefirstversionoftheIndianGAAPtaxonomywasdevelopedin2009,whichhadaround2500elements; And was based on IFRS 2006 General Purpose taxonomy. The taxonomy comprises of 12relationshipgroups(extendedlinks)categorisedas;1. Statementshadabout5extendedlinksforB/S,IS&CF2. Disclosures had about 7 extended links, for notes and additional details about financialstatements.IndianC&IGAAPtaxonomysupportedtuples,ithadabout9tuples(toknowmorereferthenextpage),itdoesnthaveanyinherentdimensionsorhypercubes.2011TaxonomyStructure:ThesecondversionoftheIndianGAAPtaxonomyrecentlyreleased,hasabout3000+concepts,has been drastically revamped in terms ofmodularization in linewith international best practices ofcreatingmultipleextendedlinks.Thereareinall55extendedlinkroles,dividedinto;1. Statements2. Disclosures3. Notes4. Schedules5. Generalinformation6. AdditionaldetailsThemorethenumberofextendedlinks,thebetterthebrowsingofthetaxonomy,sinceitseasytolocatespecificconcepts,aseachoftheconceptsarelogicallygroupedtogether,alltheuserneedstodoislookattherightplace.Inlinewithitspredecessor,thecurrentversionalsodoesnthaveanyinherentdimensions,howeverthenumberoftupleshavegoneupto23inthecurrentversion.33Source:http://mca.gov.in/34C&IstandsforCommercialandIndustrial29TABLEBELOWSUMMARIZESTHEKEYDIFFERENCESIN2009AND2011C&ITAXONOMYTypes 2011Taxonomy 2009TaxonomymonetaryItemType Instant 678 661 Duration 1119 826Totalmonetaryelements 1797 1487booleanItemType 5CINNumberItemType 11ContentOfReport 1CountryNameItemType 6dateItemType 20decimalItemType 14 12DINNumberItemType 1IndustryType 1LevelOfRounding 1NatureOfRelatedParty 1NatureOfReport 1percentItemType 23perShareItemType 14pureItemType 3 12sharesItemType 41 33ShareType 1SRNNumberItemType 3stringItemType Abstracts 460 357 NonAbstracts 611 524Totalstringelements 1071 881textBlockItemType 32TypeOfBalanceSheet 1TypeOfCashFlowStatement 1TypeOfDebenture 1TypeOfGoods 1TypeOfIncomeStatement 1TypeOfSubsidiary 2Tuples 23 9TotalElements 3077 243430BANKINGBankingTaxonomyhasaround1150elements;itsstructurehasbeensimilartoIFRS2006GeneralPurposetaxonomy.Thetaxonomycomprisesof6relationshipgroups(extendedlinks)categorizedas;1. Statementshasabout3extendedlinksforB/S,IS&CF2. Disclosureshaveabout3extendedlinks,fornotesandadditionaldisclosures.UnlikeC&Itaxonomy,thebankingtaxonomyhasgotdefinitions forallconcepts (Barringabstracts),howeveritdoesnthavetuplesinthetaxonomy,however,theuserscanimportthoseconceptsfromC&Itaxonomyifrequired.Thetaxonomyallowstheuserstocreateandaddtheirowndimensions;however,itdoesnthaveanyhypercube/dimensionsofitsown.MUTUALFUNDS35SecuritiesandExchangeBoardofIndia(SEBI)cameoutwiththefirstdraftoftheMFtaxonomyinendofFebruary,2011.The taxonomy is a very small taxonomy in comparison to the INGAAP taxonomy it comprises of 216elements,whichhave7Hypercubes&11Dimensions.ThetaxonomyhasnoTuplesandhas6extended links.Broadlycategorized intoDetailed informationandSummarizedgeneralinformation35http://www.sebi.gov.in/xbrl/taxonomy/Launch.html

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