1. Interesting facts about XBRL in India
Blue Consulting Pvt. Ltd.
Doing common things, Uncommonly well.
July 13’ 2009 Blue Consulting Pvt. Ltd.
Consulting F&A Outsourcing Internal Audit
A Finance & Accounts Outsourcing Company

2. Purpose
Blue Consulting Pvt. Ltd.
2 www.xbrlconsulting.co.in
 This is a quick look at some interesting facts related to the XBRL
space in India.
 In the next few slides, you will get conversant with some
interesting facts related to XBRL conversion services.

3. #1. No certification of software vendors
Blue Consulting Pvt. Ltd.
3 www.xbrlconsulting.co.in
 As on date (31st Oct’2011), there are 18 software vendors listed on
MCA’s website (http://bit.ly/uaQKKI ) and MCA has categorically
mentioned that MCA does not certify or authenticate the validity
of the software/services offered by any of these vendors. This list
is only for awareness of stakeholders for their XBRL initiative.
 There is no guidance available for end users of the software
offerings, or, on how to select a particular software.

4. #2. Huge variation in prices
Blue Consulting Pvt. Ltd.
4 www.xbrlconsulting.co.in
 There is a huge variation in the prices of XBRL software and XBRL
conversion services. This price variation is not just on the MCA
listed software and services - the variation among non-listed
vendors and service providers is even larger.
 XBRL software prices range from Rs. 5,400 to Rs. 400,000.
 Similarly, conversion fees range from Rs. 9,000 per company to Rs.
45,000 per company and Rs. 300 per page to Rs. 3,000 per page.

5. #3. Preparedness of service providers
Blue Consulting Pvt. Ltd.
5 www.xbrlconsulting.co.in
 In the absence of any accreditation or certification by a
responsible authority, most service providers claim to have been
working in the XBRL space even before the introduction of XBRL
regulation by MCA in March’11 which, barring a few service
providers, is dubious.
 By the middle of Oct’11, the Financial Statements of only 9
companies were filed in XBRL format, which shows the state of
preparedness of service providers in this domain. (Source: an article
in Economic Times, click here to access the article)

6. #4. Lack of awareness among companies
Blue Consulting Pvt. Ltd.
6 www.xbrlconsulting.co.in
 There is a large gap in understanding about XBRL, its concept and
implications among the companies who are required to file
financial statements in XBRL format.
 Companies (even renowned business houses) are deciding on
XBRL service providers on just the basis of lowest fee without
enquiring about basic information about a service provider, i.e.,
team size, experience, etc.

7. #5. Role of XBRL software misunderstood
Blue Consulting Pvt. Ltd.
7 www.xbrlconsulting.co.in
 People have misunderstood the role of software in the XBRL
conversion process at this initial stage in India. Software is just an
enabler; nothing more than that.
 XBRL conversion is a specialized service for which experience in
handling of Financial Statements across various Industries is a
basic requirement. Secondly, familiarity with mandatory business
rules of taxonomy is a pre-requisite to effectively handle the errors
during validation phase.

8. Contact us  Blue Consulting Pvt. Ltd. is a listed
service provider for XBRL conversion by
MCA. Blue Consulting Pvt. Ltd.
8 www.xbrlconsulting.co.in
 BC, has its roots in a well established,
four decade old chartered accountants
firm.
Chandan Goyal
 We have a separate division for XBRL
Chief Executive Officer
conversion services.
chandan.goyal@blueconsulting.co.in
 Our XBRL team members also have
+91 98104 10421 experience of XBRL filing for UK and US
+91 120 4230649 companies as well.
For further detail, please log on to:
www.xbrlconsulting.co.in
Delhi Pune
“A dream is not that
which you see in sleep
A dream is that
which does not let you sleep”