How do I use XBRL taxonomy?

How do I use XBRL taxonomy?

You set up the XBRL Lines by mapping the data in the taxonomy to the data in your general ledger.

  1. Choose the.
  2. On the XBRL Taxonomies page, select a taxonomy from the list.
  3. Choose the Lines action.
  4. Select a line and fill in the fields.
  5. To read detailed information about what to fill in, choose the Information action.

What are the basic components of XBRL taxonomy?

XBRL components (items, domain members, dimensions, and so forth). The representation of a financial reporting concept, including: line items in the face of the financial statements, important narrative disclosures, and rows and columns in tables.

What do the terms fact concept and taxonomy mean in XBRL?

Taxonomy. A taxonomy links and defines a number of taxonomy components that provide the meaning for facts in an XBRL report. For example, a taxonomy for an accounting standard would include definitions of concepts such as “Profit”, “Turnover”, and “Assets”.

How do I prepare XBRL financial statements?

Filing Manual

  1. Step 1 – Creation of XBRL instance document:
  2. Step 2 – Download XBRL validation tool from MCA portal.
  3. Step 3 – Use the tool to validate the instance document.
  4. Step 4: Perform pre-scrutiny of the validated instance document through the tool.
  5. Step 5: Attach instance document to the Form 23AC and Form 23ACA.

How do I view XBRL financial statements?

A system converted PDF document is available for viewing the XBRL balance sheet and profit and loss account in human readable format. Please click on the category ‘Annual Returns and balance sheet Attachment’ while using the ‘View Public Documents’ facility available on the MCA21 portal for viewing the same. .

What are the features of XBRL?

Features of XBRL:

  • Integration with MCA: Seamless integration with MCA Website.
  • Excel Import-Export: Simple import-export functionality through excel templates.
  • Prepare & File Unlimited Returns with XBRL Tool:
  • Interlinking:
  • Audit Trails:
  • Auto Calculation:
  • Simplified Work Flow:
  • Support:

What is an XBRL specification?

At the heart of the XBRL standard is the XBRL 2.1 Specification, originally released in 2003. This specification defines the basic building blocks of facts, instance documents, concepts and taxonomies which are common to all implementations of XBRL.

How do you as a preparer of financial statement use the XBRL taxonomy in locating a label for a specific financial element?

The XBRL Taxonomies To find the specific label for an element, a preparer can start with the statement/disclosure, and then drill down to the categories to which the item belongs.

What is an XBRL schema?

XBRL allows the expression of semantic meaning commonly required in business reporting. The language is XML-based and uses the XML syntax and related XML technologies such as XML Schema, XLink, XPath, and Namespaces. One use of XBRL is to define and exchange financial information, such as a financial statement.

What is XBRL accounting?

eXtensible Business Reporting Language (XBRL) is a freely available global framework of accounting standards used for exchanging business information. XBRL is based on XML coding and is a standardized way of transmitting financial records around the world.

What is the difference between XML and XBRL?

XML is primarily used in encoding documents and other arbitrary data structures for exchange over the Internet/World Wide Web. XBRL is an XML based, open, market-driven, global standard for encoding semantic information, like those found in financial statements of organizations.