A language called XBRL is used all over the world for business reporting to electronically communicate financial and business data. eXtensible Business Reporting Language is referred to as XBRL. Benefits of the XBRL filing include improved analysis, preparation, and communication of company information.
A language called XBRL is used all over the world for
business reporting to electronically communicate financial and business data.
eXtensible Business Reporting Language is referred to as XBRL. Benefits of the
XBRL filing include improved analysis, preparation, and communication of
company information.
Using the MCA site, the Ministry of Corporate Affairs (MCA) introduced the filing of financial statements in XBRL with the Registrar of Companies (ROC). According to the 2011 Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, certain classes of companies are required to submit their balance sheets and profit and loss statements to the ROC using the XBRL taxonomy.
Following this, the Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2017 mandated that certain classes of companies file their financial statements and other documents with the ROC in eform AOC-4 XBRL in accordance with Section 137 of the Companies Act, 2013 (the "Act").
The following company documents have to be attached with the eform AOC-4 XBRL: