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MDA-XBRL

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As per the New initiative of Ministry of Company Affairs (MCA), all companies which fall under below given categories are required

to file their Balance Sheet and Profit & Loss account in XBRL format for Financial Year 2010-11.

  • All Listed Companies in India and their subsidiaries.
  • All Companies having a paid up capital of Rs. 5.0 crore and above.
  • All Companies having a turnover of Rs. 100 crore and above.

 

XBRL (Extensible Business Reporting Language), is an open standard which supports information modeling and the expression of semantics, commonly required in business reporting.
XBRL is XML-based systematic database. It uses the XML syntax and related XML technologies such as XML Schema, XLink, XPath, Namespaces, etc. to articulate this semantic meaning.

 

MDA-XBRL allow you to map, tag and file to the MCA with the ease.

Product Features :

- Automatic totals and subtotals

- User-friendly, Truly Menu Driven

- Columnar Data Entry (like Excel) in Tree View Mode

- Direct transfer of both current and previous years figure from Excel (Any Format)

- User-friendly option for clubbing items with audit trail
- Inbuilt Data Validation Tool
- Pre-Validation Check Button
- Data Export/Import from Excel

- Report in Excel output

- Data Transfer from our Audit Manager, MDA-ROC & ICAI-ROC software

- New features will be added periodically...

- Available in 2 versions

 

All the companies that fall under the mandate are required to file with MCA following information in XBRL:

- Balance Sheet

- Profit and Loss Account

- Cash Flow Statement

- Schedules related to Balance Sheet and Profit and Loss Statemen

- Notes to Accounts

- Statement pursuant to section 212 of Companies Act 1956 relating to subsidiary companies

- Auditors Report

- Directors Report

 

Companies can derive a variety of benefits from XBRL:

Company internal and external financial reporting.

- Business reporting to all types of regulators, including tax and financial authorities, central banks and governments.

- Filing of loan reports and applications; credit risk assessments (Capital adequacy requirements).

- Exchange of information between government departments or between other institutions, such as central banks.

- Authoritative accounting literature - providing a standard way of describing accounting documents provided by authoritative bodies.

- A wide range of other financial and statistical data which needs to be stored, exchanged and analyzed.

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