With the Ministry of Corporate Affairs (MCA) issuing circulars mandating certain companies to file their cost audit reports and cost record compliance reports along with their financial statements from the year 2011 – 12 using XBRL (eXtensible Business Reporting Language) format, XBRL Training has become essential and critical. These circulars signals the MCA’s intent to build on the momentum gained during 2011 whereby over 25,000 companies filed their entire annual financial statements using XBRL for the first time.
- KPMG in India along with its alliance partners (tool providers), can assist Indian companies in training internal resources on XBRL
- Identifying and selecting appropriate software tools; and overall implementation of XBRL in a manner that makes XBRL ‘business as usual'
Challenges faced by companies adopting XBRL
- Requirement of training staff to understand XBRL and how it needs to be implemented, including matters like timely tagging and validation processes
- Understand the usage of the software tool, used for the purpose of tagging the financial statement and cost audit reports
- Correctly estimating the efforts for tagging the financial statement data correctly to the relevant elements within the new taxonomy (Revised Schedule VI)
- Smooth and timely closure of reporting within the prescribed timelines.
On successful completion, participants will receive a certificate from KPMG in India.
Click here to download the XBRL flash news.
For Enrollment / Inquiry: Contact us at IN-FMlearninginfo@KPMG.com.
All learning programmes are offered under the auspices of the KPMG Learning Academy. To know more about other programmes offered, click here.