indian xbrl presentation by wipro
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© 2009 Wipro Ltd - Confidential
XBRL
an analysis – with the MCA filing perspective
04 June 2011
Sanjay Minni
© 2009 Wipro Ltd - Confidential2 © 2009 Wipro Ltd - Confidential2
XBRL is a way of presenting financial data
electronically … with more consistency …
leading to better comparability & analyzability
Current Scope of discussion –
as XBRL applies to Financial Data for MCA Filing
What is XBRL
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• Current applicability –
– All listed companies and their subsidiaries, including overseas
subsidiaries,
– All Co’s with paid up capital of Rs.5 Cr+ or Turnover of
Rs.100 Cr+ (with some exclusions).
• To be filed –
– Balance sheets and Profit and Loss account for the year
2010-11 onwards using XBRL Taxonomy for Schedule VI,
(non converged) Accounting Standards (Taxonomy is at
www.mca.gov.in)
(All info is as on 04 Jun 11. please re-check at the MCA site for updates)
XBRL filing requirements - MCA
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• Taxonomies are like hierarchical dictionaries (e.g. chart of accounts) - to be
used in XBRL financial reporting. They define the specific tags (i.e. The exact
Account Heads) that are used for individual items of data (such as "net profit"),
their attributes and their inter-relationships.
• Different taxonomies are available for different business reporting purposes. A
taxonomy reflects local accounting and other reporting regulations. Many
different organisations, including regulators, industry segments or even
companies, may require taxonomies with extensions to cover their own specific
business reporting needs.
• Taxonomies are often created by “Jurisdictions” comprising of
representatives from various stakeholders
• MCA website provides the files final_taxonomy.zip – to be used in conjunction
with final_business_rules.zip (next slide) corresponding to IN-GAAP
• Many other taxonomies are available – US GAAP (SEC Filing), IFRS, … (see
http://www.xbrl.org/FRTaxonomies/ .
What is a Taxonomy ?
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Navigating the MCA Documents
Currently MCA has (2) .zip files on their website for XBRL filing (listed below).
The files marked(*) are in Human readable form and serve as guides for XBRL
filing. The other files in .xsd, & .xml formats are for use by XBRL file creation
tools, but can be opened with excel or xml browsers with limited readability
• (1) final_taxonomy.zip
\1Final Taxonomy
\ Taxonomy.xlsx * Taxonomy explanation in human-readable form
\1ca } companies act taxonomy files (for use by XBRL tools)
\1 ci } entry point for Commercial & Industrial taxonomy
\1in-gaap } in-gaap related taxonomy files
• (2) final_business_rules.zip
– Business rules.xlsx * Account heads & General rules in human readable form
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Guide to the readable MCA Documents
File Sheet Guide to some points of interest
Taxonom
y.xlsx
Elements Contains all items under which data values can be given (currently over 3000).
“Abstract” means only group head – no posting allowed.
“Data Types” column: see the various data types available.
“Substitution Group” column: Item - an a/c head, Tuple - group head.
ExtendedLinks Indicates links used in groups and calculations
Presentation Column C “Element name” shows the a/c’s actual hierarchy of presentation
Calculation Column “Weight”: “-1.0” indicates the items is to be deducted within its group
Labels Column C “Standard Label” shows the a/c’s name for Display
Business
Rules.
xlsx
Elements Overlaps with Taxonomy file “Elements” sheet. See addl column –K “Business
Rule”
Generic
Business Rules
Gives11 (eleven) broad validation checks to be done.
Country
Names
Gives country names
These docs are guides to the XBRL filing data which may be highly granular
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This info is as on 04 Jun 11. please re-check at the MCA site for updates
• XBRL data to be uploaded will be in the form on .xml files (called the
instance documents). The process for creating is discussed in the
next slide. The location & process for uploading the .xml documents
will need to be ascertained.
• Other regulators have XBRL filing requirements. Its possible that the
information required by them could be of a different nature as XBRL
technology can be used in several ways for Financial reporting
Open issues
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• Start with the Company GL a/c’s (arranged in the B/S
& P/L hierarchical order)
• Map the GL a/c’s to the Taxonomy a/c heads
– Split GL a/c’s meet Taxonomies granularity where
required (tip: implement in a/c’s going ahead, recast
previous years)
– Converge GL a/c’s to a single taxonomy if required
judiciously without destroying the a/c’s granularity*
– [Advanced] If important GL’s not found in Taxonomy
(i.e. matching title & hierarchical position) then
consider extending the taxonomy – next phase
• Use an XBRL tool
– to take in the Taxonomy and the Company’s GL data
– Add notes to accounts and other information per tool
– Reconcile with financial data in other MCA returns
– generate the XBRL files (Instance Documents)
• File (i.e. Upload) as per MCA instructions
What is to be done – step by step
Company GL (B/S & P/L
MCAIn GaaP
Taxonomy
MapGl to
Taxonomy
Company Instance
Document
XBRL Tool data & info consolidation & XBRL Files generation
Company Taxonomy extensions
Taxonomy Extensions
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Notes on XBRL Tools selection
• Tools for creating XBRL documents
• Tools for analysis of XBRL Data
Search on the net for XBRL Tools
Screen shots courtesy irisbusiness.com
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Data Types available
• Monetary
• Shares
• Decimal
• String
• Date&Time
• URI
• Tuple
Notes on XBRL data structures
Data Relationships specifications
Taxonomy Documents
• Definition Parent-child
Dimention-element
• Calculation (Summation) Weightage
• Presentation
• Label Standard, Total
• Reference (bibliography)
Instance Documents
• Context
Understanding the following will help in better usage of XBRL
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• Example of an
XBRL add-in
for excel
XBRL Info usage
Screen shots courtesy irisbusiness.com
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XBRL Links
• www.xbrl.org/in (see entire site also)
• www.mca.gov.in
• http://en.wikipedia.org/wiki/XBRL
• http://us.kpmg.com/microsite/xbrl/train/86/start.htm (tutorial)
Keywords
• Taxonomy (and Jurisdiction)
• XBRL Instance Documents
For more information
© 2010 Wipro Ltd - Confidential
Thank You
Sanjay Minni
Head – Finance Processes, Risks & Controls