iXBRL

 
 

How Does iXBRL Affect My Business’ Accounts Preparation and Reporting Process?

07 Dec, 2018  Posted By Thenvi Subin   Posted in iXBRL
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From 1 January 2010, legislation has been in place in the U.K. that requires companies to file their accounts and computations with HMRC in Inline XBRL (iXBRL) format in respect of returns submitted on or after 1 April 2011. There … Continue reading

 

The Importance of Finding the Right Managed Tagging Service Provider

25 Oct, 2018  Posted By Shabeer   Posted in iXBRL
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Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large … Continue reading

 

Proposed Update to the IFRS Taxonomy 2018 Released by the IFRS Foundation

25 Oct, 2018  Posted By Guru Raj Singh   Posted in SEC
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On September 20 2018, the IFRS Foundation published Proposed IFRS Taxonomy 2018 Update PTU/2018/1 relating to Common Practice (IFRS 13 Fair Value Measurement), which is now open to the public for consultation. According to the IFRS Foundation, the proposed amendment includes … Continue reading

 

Who Could Use CATO to File Their Returns with HMRC in the UK?

10 Oct, 2018  Posted By Shabeer   Posted in HMRC
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In the ideal world, it wouldn’t cost businesses any money to file their annual tax returns and accounts with HMRC and Companies House, respectively. Luckily, for some companies, this dream is a reality thanks to the Company Accounts and Tax … Continue reading

 

XBRL awareness required: Does your company need to file AFS in iXBRL with CIPC?

21 Sep, 2018  Posted By Shabeer   Posted in XBRL
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From 1 July 2018, CIPC (Companies and Intellectual Property Commission) mandated that all qualifying entities in South Africa must submit their Annual Financial Statements (AFS) in iXBRL with their annual returns. Yet, many companies are still unaware of the mandate. … Continue reading

 

Missed your Corporation Tax filing deadline with HMRC? You can still avoid late filing penalties

21 Sep, 2018  Posted By Shabeer   Posted in iXBRL
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Have you been issued a penalty notice from HMRC for not filing your corporate tax returns? Worry not. You may still be exempt from late filing penalties if you are victim to a valid, excusable reason. In the UK, companies … Continue reading

 

The European Single Electronic Format (ESEF) – What You Should Know

18 Sep, 2018  Posted By Karthik Sathuragiri   Posted in XBRL
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From 1 January 2020, issuers with listed securities in EU regulated markets will be required to prepare annual financial reports (AFRs) in line with the European Single Electronic Format (ESEF). These changes will impact thousands of companies across the EU … Continue reading

 

The United States and Data Standardization – The Long Road Ahead

06 Sep, 2018  Posted By Guru Raj Singh   Posted in XBRL
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Data standardization has often been trumped as the gold standard for financial reporting – and justifiably so. Not only can it help ensure greater transparency and comparability between the financial performance and position of companies or local government bodies, but … Continue reading

 

The growing importance of data analytics for the SEC

23 Aug, 2018  Posted By Guru Raj Singh   Posted in XBRL
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On 25 June 2018, the U.S. Securities and Exchange Commission (SEC) published its draft strategic plan for fiscal years 2018 – 2022. Although comments for the draft closed on 25 July 2018, the draft provides ample insight into the SEC’s … Continue reading

 

Financial Reporting Council (FRC) updates iXBRL taxonomies, effective on or after 1 January 2019

17 Aug, 2018  Posted By Shabeer   Posted in iXBRL
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The Financial Reporting Council (FRC) has made updates to iXBRL taxonomies that will take effect on or after 1 January 2019. Keeping with the recent amendments, FRC has also said that early adoption will be accepted only if both the … Continue reading

 

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