XBRL Blog

 

Ireland Revenue accepts new iXBRL taxonomies – Irish GAAP (FRS102), FRS101 and EU IFRS

27 Jun, 2017  Posted By Balaji M   Posted in FRS102, iXBRL, Revenue, XBRL
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Revenue Ireland introduced additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) on 16th December 2016, as a Public Working Drafts (PWD). Interested parties were invited to review the PWDs for the three additional taxonomies and provide … Continue reading

 

ESMA Initiates Inline XBRL Testing

26 Jun, 2017  Posted By Balaji M   Posted in ESMA, iXBRL, Revenue, XBRL
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Issuers listed on stock markets in the EU are governed by the European Transparency Directive. This directive requires such listed companies to prepare and submit financial reports in a European Single Electronic Format (ESEF). European Securities and Markets Authority (ESMA) … Continue reading

 

Digital Revolution in Compliance Reporting

16 Feb, 2017  Posted By Balaji M   Posted in Compliance Reporting
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Computers revolutionised the world of information decades ago. ‘Interactivity’, however has been a more recent phenomenon. Hitherto, data collection by Regulators has always been in ‘non-interactive’ formats like PDF, Word, etc. This scenario is changing as we go to press. … Continue reading

 

Revenue Ireland introduces additional taxonomies in iXBRL

13 Feb, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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The Phase 1 and Phase 2 Corporation Tax filers were filing financial statements in iXBRL format in reference to the GAAP and IFRS taxonomies accepted by Revenue until last year. Revenue introduced additional taxonomies (FRS 101, FRS 102 and EU … Continue reading

 

Your smarter choice for iXBRL preparation

25 Jan, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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All corporate tax payers in the Ireland need to file their CT1 form with Revenue including the Accounts, in iXBRL format. There are several ways corporations can fulfil this requirement including, in-house, getting it done through the Accountants/Tax Advisors, or … Continue reading

 

Revenue Ireland extends iXBRL filing deadline by 3 months

15 Sep, 2016  Posted By Balaji M   Posted in iXBRL, Revenue
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Revenue has notified that it has extended iXBRL filing deadline by 3 months from Form CT1 due date. This notification has the following effect (example for accounting period end 31 December, 2015): Accounting period end 31 December 2015 Form CT1 … Continue reading

 

Will Revenue of Ireland extend your iXBRL filing deadline?

20 Jul, 2016  Posted By Pramodh Vittal   Posted in Revenue
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Companies registered for Corporation Tax must file the CT1 Corporation Tax return form on an annual basis.  Companies are also required to file their financial statements in iXBRL format through Revenue’s Online Services (ROS). The CT1 form and any balance … Continue reading

 

Importance of XBRL Implementation

20 Jul, 2016  Posted By admin   Posted in XBRL

XBRL (eXtensible Business Reporting Language), as we all know it, is a globally accepted standard for exchanging business information. From the Regulator’s perspective, it is an interactive data format as against  the merely readable formats like HTML, PDF etc., that … Continue reading

 

Impact of New FRS for HMRC Filing

15 Jul, 2016  Posted By Balaji M   Posted in HMRC, XBRL
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While iXBRL conversions of financial statements and tax computations are now routine activities for corporation tax payers in UK, new challenges await filers in the latter half of this year. Ever since the Financial Reporting Council (FRC) came up with … Continue reading

 

XBRL Sustainable reporting brings accountability and transparency

07 Jul, 2016  Posted By BD_Team   Posted in XBRL
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The flow of information from one point to another is important to keep the ecosystem intact, especially in the financial world. Regulators need it to regulate the enterprises; investors need it to analyze the enterprise’s performance and take an investment … Continue reading