<p>All listed firms, as well as those with Rs 100 crore and more in turnover, have been asked to file 2011-12 financial statements with the Registrar of Companies in the global electronic reporting format — XBRL.<br /><br /></p>.<p>The Extensible Business Reporting Language is a globally accepted standardised language in electronic format to facilitate easy and quick dissection of bulk documents.<br /><br />The Ministry of Corporate Affairs has decided to mandate select class of companies to file their balance sheets and Profit & Loss Accounts in XBRL mode for the fiscal starting on or after April 1, 2011, an official statement said.<br /><br />“All companies listed with any Stock Exchange(s) in India and their Indian subsidiaries (and) all companies having paid up capital of Rs 5 crore and above” have been mandated to file their Balance Sheet and Profit & Loss Account in XBRL mode for the fiscal starting on or after April 1, 2011.<br /><br />The rule is also applicable to companies having turnover of Rs 100 crore and above as well as those who were required to file their financial statements for fiscal 2010-11.<br />However, banking, insurance, power and non-banking financial companies are exempted from XBRL filing till further orders.<br /><br />The ministry further said the companies will be allowed to file their financial statements in XBRL mode without any additional fee/penalty up to November 15, 2012 or within 30 days from the date of their AGM, whichever is later.<br /><br />“The actual date for enabling XBRL filing will be intimated separately,” it added.</p>
<p>All listed firms, as well as those with Rs 100 crore and more in turnover, have been asked to file 2011-12 financial statements with the Registrar of Companies in the global electronic reporting format — XBRL.<br /><br /></p>.<p>The Extensible Business Reporting Language is a globally accepted standardised language in electronic format to facilitate easy and quick dissection of bulk documents.<br /><br />The Ministry of Corporate Affairs has decided to mandate select class of companies to file their balance sheets and Profit & Loss Accounts in XBRL mode for the fiscal starting on or after April 1, 2011, an official statement said.<br /><br />“All companies listed with any Stock Exchange(s) in India and their Indian subsidiaries (and) all companies having paid up capital of Rs 5 crore and above” have been mandated to file their Balance Sheet and Profit & Loss Account in XBRL mode for the fiscal starting on or after April 1, 2011.<br /><br />The rule is also applicable to companies having turnover of Rs 100 crore and above as well as those who were required to file their financial statements for fiscal 2010-11.<br />However, banking, insurance, power and non-banking financial companies are exempted from XBRL filing till further orders.<br /><br />The ministry further said the companies will be allowed to file their financial statements in XBRL mode without any additional fee/penalty up to November 15, 2012 or within 30 days from the date of their AGM, whichever is later.<br /><br />“The actual date for enabling XBRL filing will be intimated separately,” it added.</p>