What is an XBRL element?

What is an XBRL element?

What is an XBRL element?

From an XBRL technical point of view, the element definition is the label with the type “documentation,” and there are label relationships in a label relationships file, but from a user point of view the definition is an unchangeable attribute of the element.

What is a XBRL taxonomy?

Taxonomies are the reporting-area specific hierarchical dictionaries used by the XBRL community. They define the specific tags that are used for individual items of data (such as “net profit”), their attributes and their interrelationships.

How do you as a preparer of financial statement use the XBRL taxonomy in locating a label for a specific financial element?

The XBRL Taxonomies The elements of a taxonomy mostly correspond to line items in financial statements; the taxonomy groups elements by statement/disclosure. To find the specific label for an element, a preparer can start with the statement/disclosure, and then drill down to the categories to which the item belongs.

How do I tag in XBRL?

Basics of XBRL Tagging

  1. Level 1: Each footnote disclosure in its entirety must be block tagged.
  2. Level 2: Each significant accountant policy within the footnotes must be block tagged.
  3. Level 3: Each table or schedule within each footnote must be block tagged.

How do I use XBRL taxonomy?

You set up the XBRL Lines by mapping the data in the taxonomy to the data in your general ledger.

  1. Choose the.
  2. On the XBRL Taxonomies page, select a taxonomy from the list.
  3. Choose the Lines action.
  4. Select a line and fill in the fields.
  5. To read detailed information about what to fill in, choose the Information action.

What are iXBRL tags?

iXBRL is inline eXtensible Business Reporting Language iXBRL can be viewed on standard internet browsers and embeds “tags” that give meaning to the figures and statements in a format that can be understood by a computer. It does not change what is being reported, simply how it is reported.

What documents are required for XBRL filing?

Documents required for XBRL for MCA

  • Balance Sheet.
  • Profit and Loss Statement.
  • Cash Flow Statement.
  • Schedules related to Balance Sheet and Profit and Loss Statement.
  • Notes to Accounts.
  • Statement pursuant to Section 212 of the Companies Act, 1956 relating to subsidiaries.
  • Audit and Annual Report.

How do you file financial statements in XBRL format?

Mapping Process for E-Filing of Balance Sheets in XBRL

  1. Step 1: Map or tag the company’s financial statements to the published taxonomy.
  2. Step 2: Create an Instance Document based on the Mapping done above.
  3. Step 3: Validate the created instance document.
  4. Step 4: File the Instance Document.

How do I get iXBRL?

To submit an iXBRL file to Revenue

  1. Accounts Preview > Revenue set of Accounts > Generate Set of Accounts > iXBRL file for online filing. Sage Final Accounts checks the set of accounts for validation errors before generating the iXBRL file.
  2. Click Generate.
  3. Click the IXBRL file.
  4. Actions > Download.

https://www.youtube.com/watch?v=ZBu9PCkFDwQ