1. eXtensible Business Reporting Language
Presented by:
Group - 1
Members:
Bishnu Panda
Kailash Gupta
Kalyan Kumar Das
Subhasish Das
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2. Agenda
XBRL – What it is?
Features of XBRL
XBRL for investors and analysts
XBRL events and market size in US
XBRL events in India
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3. What is XBRL?
• XBRL (eXtensible Business Reporting Language) is a freely available, open and global standard which
supports information modeling, exchanging business information and the expression of semantic
meaning commonly required in business reporting.
• Global Standard for digital reporting.
• It connects the generation, exchange and consumption of business reports with the dynamic and
interactive world of the internet.
• XBRL enhances the quality and efficiency of reports, for internal use or for external
publication, reusing business and financial information.
• XBRL is based on XML (eXtensible Markup Language) developed by XBRL International, a non profit
consortium with over 650 companies and agencies working together.
• XBRL uses related XML technologies such as XML Schema, XLink, XPath, and Namespaces.
• XBRL consists of financial facts and a set of taxonomies defining dependencies of such facts.
• XBRL Taxonomies are the vocabularies or dictionaries which the language uses.
• XBRL has a set of standard validation rules containing formulas for validating values.
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4. Features
XBRL formatting can be done for
financial and non-financial data:
• Unique identifying tags are applied to
financial statements
• Supplier data
• Customer application forms
• Project information
• Employee data
• Regulatory submissions
• Other management information systems
data
Benefits: Applications:
• Better business reporting and analysis.
• Tax Returns
• Cost saving and faster
• Bank Call Reports
• More reliable and more accurate handling of data,
• Financial Statements
• Improved analysis for better quality of information and decision-making.
• General Ledger
• Avoids time-consuming manual comparison and re-entry of data.
• Event Reporting
• Internet Ready for transmission and direct use by all stake holders
• Audit Schedules
• Improvement in the speed of collating and analysing data
• Early users of XBRL included regulators viz. the U.S. Federal Deposit Insurance Corporation, the
Australian Prudential Regulatory Agency (APRA) and the Committee of European Banking Supervisors
(CEBS).
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5. XBRL for investors and analysts
• Packages explanatory contextual information around each data point
• Makes data more granular, more extractable
• Improve the accuracy, quality and transparency of corporate
information
• Provides a common framework of definitions
• Enables easier comparison of multiple companies
• Reduces reliance on normalized data
• Improve the accuracy/quality of financial information in the
marketplace
• Reduce errors in the information reported
• Improve the ability to compare and benchmark one’s financials
with peer companies
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6. XBRL events and market size in US
Events: XBRL for Business Reporting in US:
XBRL effort started in 1998 by Charles Hoffman • XBRL for G/L Journal Entry Reporting
↓ • XBRL for Financial Statements
XBRL 2.0 – December 2001
• XBRL for Regulatory Filings
↓
• XBRL for Business Events Reporting
XBRL 2.1 – December 2003
↓
• XBRL for Audit Schedules
FDIC XBRL Contract Awarded – June 2003 • XBRL for Credit Filings
↓
SEC Solicits Market Feedback – July 2004
↓
Voluntary XBRL reporting (100 companies) – 2008 US XBRL market size:
↓
Mandatory XBRL filing for 500 Public Companies
NASDAQ: ~ 3,200 Public Companies
(<$5 billions) – June 2009
NYSE: ~ 2,800 Public Companies
↓
Mandatory XBRL filing for other big public companies (list
TOTAL: ~ 6,000 Public Companies
of companies to be announced) – June 2010
↓
Mandatory XBRL filing for all US public companies - June
2011

7. XBRL events in India
Events: Fairly broad-based participation from various sectors:
XBRL effort started in Jan 2007 by ICAI
↓
Formation of XBRL group with an objective of establishing
forum for development of XBRL in India including its
promotion and to act as general body of membership of XBRL
India jurisdiction of XBRL International
↓
Carrying the task of XBRL in India forward, the XBRL Group
established the XBRL India jurisdiction of XBRL International
in Dec 2008
↓
XBRL India was awarded the status of an “Established
jurisdiction” capable of having a representative of India at the
International Steering Committee (ISC), the governing body Taxonomies:
of XBRL International in Dec 2010 • General purpose taxonomy called Commercial and
↓ Industrial Taxonomy based on IFRS 2006
On 31 March 2011, MCA issued a Circular mandating all listed architecture.
companies and certain unlisted companies, to file their • Banking Taxonomy, an extension to the core Indian
financial statements for the year ended 31 March 2011 XBRL C&I Taxonomy.
onward using an XBRL format. • Taxonomies for NBFCs, Insurance & Power Sectors
– in process.
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8. Thank You
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