xbrl conversion services in india by blue consulting

Blue Consulting Pvt. Ltd.A Finance & Accounts Outsourcing Company

July 13’ 2009

Blue Consulting Pvt. Ltd.Consulting F&A Outsourcing Internal Audit

XBRL solution and servicesMCA FILING MANDATE

Doing common things, Uncommonly well.

Blue Consulting Pvt. Ltd.www.xbrlconsulting.co.inIndex

Index

1. Background 3

2. About us 4

3. What documents need to be

filed in XBRL format? 5

4. BC’s XBRL Document Conversion services 6

5. Process flow of documents conversion

in XBRL format 7

6. Why BC for XBRL solutions? 8

7. Benefits of outsourcing XBRL

documents conversion? 9

8. Fees 10

9. Contact detail 11

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http://www.xbrlconsulting.co.in/�


1. Background

Ministry of Corporate Affairs (MCA) has mandated financial reporting in XBRL from the Financial Year 2010-2011 for

all listed companies and their subsidiaries (excluding overseas subsidiaries),

all unlisted companies having paid up capital of Rs. 5 Crore and above

All unlisted companies having a turnover of Rs. 100 Crore or above

The above companies are permitted to file XBRL compliant documents up to 30.11.2011 or with in 60 days of their due date, whichever is later without any additional filing fee.

The current mandate excludes banking companies, insurance companies, power companies, Non Banking Financial Companies (NBFCs).

Any practicing Chartered Accountant or Company Secretary or Cost Accountant can certify the XBRL document of financial statements which was hitherto restricted to only Statutory Auditor of the company.

Around 30,000 companies in India need to report to the MCA in XBRL this year. Going ahead it is expected that almost 9 lakh companies would need to report in XBRL in the next three years.

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2. About us

Blue Consulting or ‘BC’ provides value added and high quality services in the domain of Finance & Accounts:

Consulting services

Finance & Accounts Outsourcing Services

Internal Audits

BC, has its roots in a well established, four decade old chartered accountants firm.

Utilizing forty years of industry experience and functional expertise, BC looks innovatively beyond standard solutions to develop new insights, drive tangible results, and empower clients to achieve greater results.

Key associates at BC have rich experience in the area of Finance, Taxation, Accounts, Management and Information Technology.

Providing quality service with complete responsibility is natural to our corporate culture.

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3. What documents need to be filed in XBRL format?

Following documents need to be filed in XBRL format:

Balance sheet and its schedules

Profit and loss a/c and its schedules

Cash flow statement

Notes to accounts

Director’s report

Auditor report

Selective information from notes like subsidiary information, joint ventures, associate, related party

transactions, director information have to be tagged in detailed fashion as well

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All the data in Granular form

Data mostly as ‘text blocks’



4. BC’s XBRL Document Conversion services

Your company simply needs to provide the current year’s annual report(s) to BC and we will send the validated & MCA filing-ready XBRL documents back.

BC’s XBRL analysts who are trained accountants with XBRL domain knowledge will choose appropriate tags for your financial statements and create and validate the XBRL instance documents.

This will go through a multi-layered quality control process after which the filing ready XBRL documents will be provided to the company.

Additionally, an Excel based proof of the XBRL document will also be provided so that companies can easily review the tags selected by BC.

BC’s analysts will be available for feedback on any specific issues related to tag selection.

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5. Process flow of conversion

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Client Client provides Annual Report in Word, Excel or Other format

Blue Consulting Analysis of Annual Report

Mapping and tagging

Review and validation

XBRL instance document

Client Review and upload of XBRL documents to MCA website

Note: We also help our clients in uploading of XBRL documents on MCA website.



6. Why BC for XBRL solutions?

Creating high quality XBRL documents - BC follows the maker-checker approach for XBRL document creation combined with multiple layers of quality checks.

Expertise & understanding of both XBRL taxonomies and client specific needs.

A strong pool of XBRL analysts (consisting of Chartered Accountants, Company Secretaries, IT professionals) with experience in handling documents across all industries and complexities.

Emphasis on client confidentiality and information security

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7. Benefits of outsourcing XBRL documents conversion?

Cost effective

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

Excel based XBRL tagging report enabling easy and effective review by the client

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8. Fees

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Our professional fee is based on following factors:

Nature of Industry to which a Company belongs

No. of pages in the annual report

Level of complexity in the Financial Statements

No. of subsidiaries of the company

Volume of foreign currency and related party transactions

To quote our professional fee, we require a copy of Annual report. Quotation can be also given based on the previous year’s annual report if there are no major variations in the factors mentioned above.



9. Contact us Blue Consulting provides value added and high

quality Finance & Accounts related services through

its vast pool of experienced professionals. Our goal

is to be a trusted partner in your business by

bringing value and serving as an integral part of

your set up.

Blue Consulting, or BC, has its roots in a well

established, four decade old chartered accountants

firm. Utilizing forty years of industry experience and

functional expertise, BC looks innovatively beyond

standard solutions to develop new insights, drive

tangible results, and empower clients to achieve

greater results.

For further detail, please log on to:

www.blueconsulting.co.in

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Chandan Goyal

Chief Executive Officer

[email protected]

+91 98104 10421

+91 120 4230649

Delhi Pune

“A dream is not thatwhich you see in sleep

A dream is thatwhich does not let you sleep”

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xbrl conversion services in india by blue consulting

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