XBRL

an analysis with the MCA filing perspective 04 June 2011

Sanjay Minni

2009 Wipro Ltd - Confidential

What is XBRL

XBRL is a way of presenting financial data electronically with more consistency leading to better comparability & analyzability Current Scope of discussion as XBRL applies to Financial Data for MCA Filing

2009 Wipro Ltd - Confidential

XBRL filing requirements - MCA

Current applicability
All listed companies and their subsidiaries, including overseas subsidiaries, All Cos with paid up capital of Rs.5 Cr+ or Turnover of Rs.100 Cr+ (with some exclusions).

To be filed
Balance sheets and Profit and Loss account for the year 2010-11 onwards using XBRL Taxonomy for Schedule VI, (non converged) Accounting Standards (Taxonomy is at www.mca.gov.in)
(All info is as on 04 Jun 11. please re-check at the MCA site for updates)

2009 Wipro Ltd - Confidential

What is a Taxonomy ?
Taxonomies are like hierarchical dictionaries (e.g. chart of accounts) - to be used in XBRL financial reporting. They define the specific tags (i.e. The exact Account Heads) that are used for individual items of data (such as "net profit"), their attributes and their inter-relationships. Different taxonomies are available for different business reporting purposes. A taxonomy reflects local accounting and other reporting regulations. Many different organisations, including regulators, industry segments or even companies, may require taxonomies with extensions to cover their own specific business reporting needs. Taxonomies are often created by Jurisdictions comprising of representatives from various stakeholders MCA website provides the files final_taxonomy.zip to be used in conjunction with final_business_rules.zip (next slide) corresponding to IN-GAAP Many other taxonomies are available US GAAP (SEC Filing), IFRS, (see http://www.xbrl.org/FRTaxonomies/ .
2009 Wipro Ltd - Confidential

Navigating the MCA Documents

Currently MCA has (2) .zip files on their website for XBRL filing (listed below).
The files marked(*) are in Human readable form and serve as guides for XBRL filing. The other files in .xsd, & .xml formats are for use by XBRL file creation tools, but can be opened with excel or xml browsers with limited readability

(1) final_taxonomy.zip
\1Final Taxonomy \ Taxonomy.xlsx * Taxonomy explanation in human-readable form \1ca } companies act taxonomy files (for use by XBRL tools) \1 ci } entry point for Commercial & Industrial taxonomy \1in-gaap } in-gaap related taxonomy files

(2) final_business_rules.zip
Business rules.xlsx * Account heads & General rules in human readable form

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Guide to the readable MCA Documents

These docs are guides to the XBRL filing data which may be highly granular
File
Taxonom y.xlsx

Sheet
Elements

Guide to some points of interest

Contains all items under which data values can be given (currently over 3000). Abstract means only group head no posting allowed. Data Types column: see the various data types available. Substitution Group column: Item - an a/c head, Tuple - group head. Indicates links used in groups and calculations Column C Element name shows the a/cs actual hierarchy of presentation Column Weight: -1.0 indicates the items is to be deducted within its group Column C Standard Label shows the a/cs name for Display Overlaps with Taxonomy file Elements sheet. See addl column K Business Rule Gives11 (eleven) broad validation checks to be done. Gives country names

ExtendedLinks Presentation Calculation Labels Business Rules. xlsx Elements Generic Business Rules Country Names
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Open issues
This info is as on 04 Jun 11. please re-check at the MCA site for updates XBRL data to be uploaded will be in the form on .xml files (called the instance documents). The process for creating is discussed in the next slide. The location & process for uploading the .xml documents will need to be ascertained. Other regulators have XBRL filing requirements. Its possible that the information required by them could be of a different nature as XBRL technology can be used in several ways for Financial reporting

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What is to be done step by step

Start with the Company GL a/cs (arranged in the B/S & P/L hierarchical order)
Company GL (B/S & P/L MCA In GaaP Taxonomy

Map the GL a/cs to the Taxonomy a/c heads

Split GL a/cs meet Taxonomies granularity where required (tip: implement in a/cs going ahead, recast previous years)

Converge GL a/cs to a single taxonomy if required judiciously without destroying the a/cs granularity*
[Advanced] If important GLs not found in Taxonomy (i.e. matching title & hierarchical position) then consider extending the taxonomy next phase

Map Gl to Taxonomy
Taxonomy Extensions

Use an XBRL tool

to take in the Taxonomy and the Companys GL data Add notes to accounts and other information per tool Reconcile with financial data in other MCA returns

data & info consolidation & XBRL Files generation

XBRL Tool

generate the XBRL files (Instance Documents)

File (i.e. Upload) as per MCA instructions

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Company Instance Document

Company Taxonomy extensions

Notes on XBRL Tools selection

Tools for creating XBRL documents Tools for analysis of XBRL Data Search on the net for XBRL Tools

Screen shots courtesy irisbusiness.com

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Notes on XBRL data structures

Understanding the following will help in better usage of XBRL Data Types available Monetary Shares Decimal String Date&Time URI Data Relationships specifications Taxonomy Documents Definition Parent-child Dimention-element Calculation (Summation) Weightage Presentation Label Standard, Total Reference (bibliography) Instance Documents Context
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Tuple

XBRL Info usage

Example of an XBRL add-in for excel

Screen shots courtesy irisbusiness.com

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For more information

XBRL Links www.xbrl.org/in (see entire site also) www.mca.gov.in http://en.wikipedia.org/wiki/XBRL http://us.kpmg.com/microsite/xbrl/train/86/start.htm (tutorial) Keywords Taxonomy (and Jurisdiction) XBRL Instance Documents

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Thank You
Sanjay Minni
Head Finance Processes, Risks & Controls

Sanjay.minni@wipro.com

2010 Wipro Ltd - Confidential