The presentation answers all your queries towards, what is XBRL? What is MCA mandate all about.

1. XBRL filings for MCA
By: IRIS Business Services Ltd.

2. Our presentation today
• About IRIS
• What & Why of XBRL?
• What is MCA mandate all about?
• Approaches
• IRIS offerings

3. XBRL - not new to India
IRIS is awarded MCA & SEBI
project to adopt XBRL
Corpfiling – India becomes a
convert the IRIS does a Pilot
XBRL based provisional
historical filings for SEBI for MF
filing platform jurisdiction of
of US Companies
adopted by BSE XBRL
into XBRL
and NSE International
format
ICERS – IRIS’ XBRL IRIS develops
based filing MF taxonomy
platform was for SEBI
developed for
BSE
ICAI develops
XBRL taxonomy
Corpfiling – IRIS’ XBRL
based on Indian
based filing platform is
RBI launches IRIS’ GAAP (built by
made mandatory by SEBI
XBRL based filing IRIS)
platform for Capital
Adequacy Returns

4. IRIS – our rich XBRL experience
Developed FinX, software Entered into a strategic partnership with
Outsourced XBRL platform to create XBRL Merrill Corporation in the US
Services offering to help instance documents
Awards full scale iFile implementation by JSE
create XBRL repository in Built Indian XBRL database
US for Edgar Online ( 20000+ Documents) Worked on developing Proton, as its next
generation application for XBRL document
creation
Entered Developed iFile, XBRL Awarded project by the State of Nevada,
based filing solution USA for Debt Collections and Accounts
XBRL first deployed at the The Reserve Bank of India launches IRIS’ XBRL
Receivables (iFile)
domain Bombay Stock based filing platform
Exchange Project in Macedonia for XBRL solution for
IRIS’ XBRL based filing platform for stock the business registry
exchanges is modified to meet filing
requirements of the Bombay Stock Exchange Launched iXBRL conversion services for UK to
and National Stock Exchange meet HMRC requirement; converted over
100 documents
The Institute of Chartered Accountants of India Won contract from the Emirates Securities
ICAI asked IRIS to build the Indian XBRL and Commodities Authority to implement
taxonomy iFile
iFile pilot is implemented at the JSE

5. IRIS’ XBRL practice
• XBRL practice of ~ 700 people, including taxonomy specialists, XBRL analysts and
XBRL technologists
• Closely involved with the XBRL standard setting at the international level, hold the
Chair of Taxonomy Architecture Working Group at XBRL International, and present
in several other committees
• Involved with every single regulatory XBRL implementation in India, and have
clients across 8 countries in the XBRL space.
• Rich experience in conversion services in Indian , US and UK markets; with strong
established practices over the past four years.
• Own several software applications in the XBRL space for XBRL document creation,
validation, end to end XBRL filing platform and mapping from legacy systems to
XBRL formats

6. ABOUT XBRL

7. What is XBRL?
XBRL (eXtensible Business Reporting Language)
• XBRL is Tagged Data (Meta-Data - Machine Readable)
– Standard way to communicate business and financial information
– Defined by meta-data set out in taxonomies which capture the definition of
individual reporting concepts and the relationships between them.
XBRL - The “Bar Code” of the Business Reporting World.

8. Key Benefits
Standardization - Standardized, yet extensible
• Reduce costs by standardizing the reporting format
Accuracy - Validation at the point of data generation itself
• Immediate validation through XBRL as well as business rules
Re- purposability - Enter data once, render in many forms
• Quick generation of information and reports by end users
Technology independent - Open, royalty free standard
• Reduces cost
Inclusion - Language properties of XBRL can be leveraged to
render same data in multiple languages
• Allows firms to reach out to a larger community of investors

9. THE MCA MANDATE

10. What is the MCA mandate..
MCA mandate
• Circular issued on March 31,2011 to mandate financial reporting in XBRL
from the year 2010-2011.
• Listed companies and their subsidiaries (excluding overseas subsidiaries), as well as unlisted companies
having paid up capital of Rs. 5 Crore and above or a turnover of Rs. 100 Crore or above.
• Excludes banking companies, insurance companies, power companies, Non Banking Financial
Companies (NBFCs).
Important Dates to remember
Companies can start filing their XBRL documents by August, 2011. The last
date of filing for companies is November 30, 2011 or within 60 days of their
due date, whichever is later without paying any additional filing fee.

11. The MCA Taxonomy
• Based on
– Schedule VI, Companies Act
– Accounting Standards
– MCA specific requirements
– Other regulatory requirements
• Around 3000 concepts included in taxonomy
• Broad industry classification
– Commercial and Industrial companies
– Banking companies*
– NBFC*
– Insurance & Power*
* Not required to file by November 30, 2011

12. What do Companies need to file in XBRL?
Balance Sheet and Profit & Loss Account
• Balance sheet and its schedules,
• Income statement and its schedules,
• Cash flow statement
Selective information from Notes to accounts
• Subsidiary related information
• Related party information
• Foreign Exchange earnings and outgo
• Debenture details
• Information on associates/joint ventures
• Director details
• Share capital information

13. What do Companies need to file in XBRL?
Block tag the following information blocks
• Auditor’s report
• Directors’ report
• All notes (every individual note)
Block Tagging means capturing group of information as one
single fact, using one single tag from the taxonomy

14. What options companies can explore
Use internal resources - Buy Software to create the XBRL document
Advantages: Cost, ability to manage the process internally
Disadvantages: Need fair amount of XBRL expertise, which takes time to build.
Also, software applications will not facilitate tag selection or help in resolving
validation errors. This typically could result in a larger ‘Total Cost of Ownership’ of
the XBRL document creation than anticipated.
Outsource to XBRL experts
Advantages: End to end service providers, assure filing ready document with
quality, available for clarifications and discussions during review process
Disadvantages: Perceived initial cost is higher, since it includes software +
services of XBRL experts

15. Approach - Using Internal Resources
A firm must be prepared to:
• Establish the internal team responsible for the work, which will generally
include representatives from external reporting, legal, IT and investor
relations.
• Review all applicable MCA rules.
• Purchase and become proficient in using XBRL software.
• Become familiar with the MCA's XBRL filing manual
• Become familiar with the XBRL Preparer’s Guide.
• Review and validate that document.
• File the data with the MCA

16. Approach – Outsource to XBRL Experts
• Identify an XBRL firm experienced in filing.
• Provide current year’s annual report to the XBRL Firm.
• Ensure that the vendor is adequately staffed and the turnaround time is to
your satisfaction.
• Receive the XBRL Documents and file the same.

17. IRIS offerings
Outsourced • Conversion Services
Services
Internal • Web Application
Resources • Intelligent Spreadsheets

18. Suggested XBRL Road Map for Companies
• Start with outsourcing MCA related XBRL compliance to experts in the
first year
IRIS - with an experience of converting more than 20,000
documents in XBRL across Indian, US and UK Markets - is
ideally suited to meet your filing requirements
• Create the infrastructure by building core XBRL competencies within
the organization
– XBRL training
– Develop Internal Team to facilitate the company’s XBRL plans
– Evaluate the use of XBRL at a deeper level within your own enterprise for
operational efficiencies

19. Conversion Service - Credentials
• IRIS has over 7 years of experience in XBRL conversions, and has an XBRL
expert pool of 400+ resources
• IRIS already supports large number of companies in India, US, UK and
other countries in generating XBRL filings, which are required to be filed
with the regulators including the US SEC and UK HMRC.
• Well qualified, trained and experienced accounting professionals along
with the technical experts in the core conversion team is our strength.
• Extensive experience in developing taxonomies and have built the C & I
and Banking Taxonomy for India on behalf of the Institute of Chartered
Accountants of India.
• Large scale, well established and robust processes

20. Conversion Service - Features
• Receive a completely high quality, validated document that is filing ready.
• Filing validated both against the XBRL rules and MCA filing rules, ensuring
complete compliance
• High level of quality, with separate domain and XBRL tech related quality
specialists that review each document, as well a final QC lead that signs
off on each document
• Relationship Managers and Project Managers that interact with clients
through the conversion process, for any tagging decisions that need
review
• A strong pool of XBRL analysts with experience in handling documents
across industries and sectors

21. Conversion Service - Benefits
• Personalized attention to every client
• No worries of additional compliance for the companies
• Not required to evaluate and implement any software
• No training required for the workforce
• Tools will be provided to view and review the XBRL document
• Cost Effective
• Timely and accurate output

22. Conversion Service - Process

23. What IRIS will deliver ?
• Validated XBRL Document as per the MCA mandate.
• Excel report, enabling easy audit review of tag selection
• Ability to load and review the document on the IRIS Web rendering service
• Relationship Managers, who will facilitate the entire process as well as
interactions with clients on tagging decisions that need review

24. Conversion Service –Your Firm’s Role
• Organize a kick off meeting with IRIS
• IRIS RM might call you for clarifications, if any.
• Once the Validated XBRL Document is given along with the Excel report,
you may like to check the mapping and seek any clarifications from IRIS on
specific mapping decisions.
• Upload the document at the MCA’s Portal

25. THANK YOU
Contact us:
IRIS Business Services Limited
T-131, Tower 1, 3rd Floor,
International Infotech Park,
Vashi, Navi Mumbai 400703,
Maharashtra,
India.