Infosys unveils new solution to file XBRL financial statements

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Tvm: Infosys today announced the launch of XBRL Filing Solution™, a solution for Indian companies to file financial statements in XBRL (eXtensible Business Reporting Language) format. This solution is aimed at addressing the requirements of Indian companies who are required to file their financial statements in XBRL format starting the financial year 2010-11 based on the Ministry of Corporate Affairs (MCA) mandate.

XBRL Filing solution™ developed by Infosys, is a ‘Ready to Use’ tool, in which users can convert their excel-based financial information into XBRL format in a few simple steps. This standalone solution can be easily integrated into a Microsoft Excel format, post which it can be used immediately after installation.

Raghu Cavale, Head – India Business, Infosys said, “The mandate from the Ministry of Corporate Affairs (MCA) to digitize the entire process of preparing and filing financial statements for Indian corporates is appreciable. This will bring in greater transparency, uniformity, ease of view and review of financial information. XBRL Filing solution™ from Infosys fulfils this demand by giving users a Microsoft Excel based solution for the generation of reports in XBRL format. This is a part of our consistent effort to provide appropriate tools to help our clients address emerging business challenges.”

XBRL Filing solution™ provides the accountant community a unique feature that allows them to generate an embedded XBRL report view, to review financial statements before filing. XBRL Filing solution™ has been developed based upon the taxonomy developed for the existing Schedule VI, as per the existing (non-converged) Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006.

Kerala IT News

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