XBRL India

ICAI Guidance Note on XBRL

admin — Thu, 13 Oct 2011 11:36:14 +0000

ICAI_Guidance_Note_on_XBRL

XBRL Webcast by ICAI-MCA

admin — Thu, 15 Sep 2011 08:10:29 +0000

Click the link below to watch it.

http://icaitv.com/?p=569

Invitation of Expression of Interest (EOI) for developing XBRL Taxonomies

admin — Sat, 09 Jul 2011 07:04:47 +0000

1. PREAMBLE AND INTRODUCTION
Invitation for Expression of Interest from leading vendors for taxonomy creation and maintenance for “XBRL India”, the local jurisdiction of XBRL International for developing XBRL taxonomies specified in 2 below..

XBRL India, is registered as a company under section 25 of the Companies Act, 1956 and has been incorporated for managing the affairs of the local jurisdiction in India. XBRL India is facilitated by the Institute of Chartered Accountants of India (ICAI), the premier accounting body in India.

2. BROAD SCOPE OF WORK
XBRL India has developed two taxonomies viz. Commercial and Industrial (C&I) and the Banking taxonomy as of now. There is a need for development of industry- specific taxonomies for meeting the requirements in the near future. Therefore, the following industry- specific taxonomies are proposed to be developed.
a) Insurance Sector Taxonomy – Creation and Maintenance XBRL taxonomy. The taxonomy shall be based on Indian Accounting Standards and conforming to the Insurance Act, 1938, listing requirements of the stock exchanges, the Life Insurance Act, The General Insurance Act and IRDA’s circulars.

b) Power sector taxonomy – Creation and maintenance of a XBRL taxonomy for power sector as per Indian Accounting Standards and the requirements of the Indian Electricity Act, 1910, Electricity (Supply) Act, 1948 and the Indian Electricity Rules, 1956 and listing requirements of Stock Exchanges and other relevant requirements related to financial statements for such entities.

3. ELIGIBILITY CRITERIA
“Vendor” is either a single entity or the lead bidder of a consortium (where more than one entity have partnered), which exhibits its interest in response to this EOI.

Vendor must have a prior experience in development of taxonomies in India and /or abroad
In case of a consortium, the lead bidder should ensure that the solution partner providing domain expertise is not the member of any other consortium for this project.
The vendor should have access to a software development and competency center in India.

4. DOCUMENTS TO BE SUBMITTED BY ELIGIBLE VENDOR
Interested vendors conforming to the above requirements may furnish the Expression of Interest in the project.
The response along with the above required documents shall be delivered to the following address on or before 15th of July 2011 in a sealed envelope superscribing:

CA. Ruchika Bachchani, XBRL India, ICAI Bhawan,
Indraprastha Marg, New Delhi – 110002.

For any query, please send email to xbrl@icai.org

As part of shortlisting exercise, vendors may be required to make a focused presentation on company, expertise and experience in the relevant field, products, etc. for not exceeding 15 minutes before the Taxonomy Development and Review Committee of
XBRL India.

Please note that Request for Proposal (RFP) shall be issued only to the short listed vendors for the requirements of XBRL India.

XBRL India reserves the right to accept/reject any or all expressions of interest received in response to this advertisement without assigning any reasons, whatsoever. XBRL India also reserves the right to raise the eligibility criteria for short listing the vendors.

From: XBRL

Leveraging XBRL for Value in Organisations – ISACA and IFAC Publication

admin — Sat, 25 Jun 2011 06:28:51 +0000

A document that provides guidance on how to leverage the value of eXtensible Business Reporting Language (XBRL) through effective implementation has been published.

ISACA, the provider of certifications, and education on information systems (IS) security and IT-related risk and compliance, has developed the paper jointly with the International Federation of Accountants (IFAC)’s Professional Accountants in Business (PAIB) committee.

The paper, Leveraging XBRL for Value in Organisations, is aimed at providing accounting and assurance professionals with guidance they can rely on from trusted sources to leverage value from XBRL initiatives and compliance requirements.

XBRL is a universal language of business reporting that is increasingly being used for both external and internal reporting by organisations and is gaining traction worldwide.

Roger Debreceny, member of ISACA and co-developer of the XBRL paper, said: “Understanding how to embed XBRL within an organization’s information processes can enhance management communication, increasing the value of the information used within an enterprise.”

According to Roger Tabor, chair of IFAC’s PAIB committee, many organisations have not yet realized how useful XBRL can be for them.

He said: “Professional accountants in business can assist them in navigating and making the most of XBRL.

“This paper can serve as a starting place to integrate XBRL and help organisations leverage its value.”

Click here to Download

Source: IWR

Final Taxonomy and Business rules for XBRL reporting

admin — Sat, 25 Jun 2011 05:51:30 +0000

Based on the comments received on the Exposure Draft on taxonomy, the Ministry of Corporate Affairs (MCA) has finalised the Taxonomy and Business Rules for Commercial and Industrial (C&I) entities for filing their Balance Sheet and Profit and Loss Account in XBRL.

MCA_Final_taxonomy

MCA_Final_Business_Rules