The BSE (formerly the Bombay Stock Exchange) has announced that it will utilize XBRL for filing Shareholder Pattern disclosures, which divulge how a company’s shares are split among the entities that make up its owners.
For the purpose of development of taxonomy, insurance specific elements were identified and compiled as per the requirements of Insurance Act, circulars and regulations issued by the IRDA and various other statutory requirements and certain common practice elements based on annual reports of Insurance companies. Since the schedules for presentation of financial statements, laid down […]
For the financial years 2010-11 and 2011-12 a total of 2,90,39 and 2,57,86 companies respectively have filed their Balance Sheet using the revised XBRL norms with the India Ministry of Corporate Affairs.
In an editorial, The Economic Times calls on India to move more quickly towards implementation of IRFS, and that further use of XBRL should be encouraged to “avoid ambiguity and achieve greater transparency”. The editorial goes on to say that “Reform in financial reporting is overdue, and the government must go the whole hog”.
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