I wanted to know what actually this xbrl will help us doing. it sure is not an accounting software, nor does ther seem to be any integration betwween an accounting software & xbrl software. if it is not so, than how different it would be from the current online application format?? Also I heard about a roadmap being issued on application of XBRL, does anybody have a idea??
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Xbrl
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Hi Ankit,
XBRL is not a software, it is a XML based language which converts data into machine readable format. It is different from existing online formats, in current html and pdf format data can be used in excel files or other report builders but with the help of XBRL data will be available into readymade format through which excel reports or inputs for other report builders can be generated on click of mouse. It will save lots of hours of data punching with the current format. Please go through XBRL FAQ available on MCA XBRL website.
Thanks & Regards
Naveen Garg
https://www.linkedin.com/groups?gid=3691371&trk=hb_side_g
this link specifies al lthe needed info
https://www.xbrl.org/
XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. In India, now as per MCA specifications, filing of financial statements in XBRL mode is mandatory for certain class of companies.
eXBace XBRL Filing Tool is a best service provider in India.
You can go through the following animated video I made for basic understanding of XBRL.
https://www.youtube.com/watch?v=-TzYQ9yGPm8
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