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Xbrl Filing Software, Xbrl Conversion Software – Tsxbrl

By Author: ts xbrl
Total Articles: 1

eMudhra introduces TSXBRL which offers a ready-to-use web-based XBRL Software tool for every step of your XBRL journey. TSXBRL engine allows companies and intermediaries to quickly convert their financial reports into XBRL documents. TSXBRL generates XBRL documents that are fully compliant with MCA guide-lines and provides a friendly spread-sheet interface to the users, enabling them to map and generate instances from their existing financials.

eMudhra TSXBRL Solution provides a unique, integrated suite of products and services that combine to provide customers with the most complete XBRL solution in the market. TSXBRL - is a powerful, yet simple and efficient, application that enables effortless creation of XBRL documents without requiring extensive training in XBRL. With TSXBRL, financial users need not become XBRL experts. Users can easily create Financial Report in XBRL without having to take the pain of learning the nuances of XBRL specifications. All the complexity of XBRL specification is managed in the background by TSXBRL allowing the users to focus on the financial information.

The core of TSXBRL is a global standard method to prepare, publish, validate, exchange, and analyze business information. TSXBRL applications enables data to be normalized or made uniform and universally consistent, understood by users, and the software and systems.

TSXBRL supports all the essential functions of creating XBRL documents. These functions include the creation and management of taxonomy extensions while creating valid XBRL document instances.

1. Industry-leading detail Notes tagging to meet MCA Taxonomy Standards.
2. Financial users need not become XBRL experts.
3. Easily create XBRL documents avoid the pain of learning the nuances of XBRL.
4. Masks details of the XBRL specification and helps users focus on financials.
5. Supports the latest taxonomies and Business rules.
6. TSXBRL designed to be an extension of the EDGARization process, not a deviation from the existing workflow.

TSXBRL supports XBRL 2.1 specifications and complies with the XBRL conformance suite. It also includes a powerful, rules-based validation engine that supports a variety of validation rules such as those included in the MCA Taxonomy. Thus, TSXBRL provides a quick, easy and reliable way of XBRL filing as per the MCA mandate.

TSXBRL Benefits:

Automated Data Processing: TSXBRL identification tags reduce and eliminate the need for employees to manually key data into software applications for further data analysis.

Regulatory Reporting: XBRL can provide investors and other government agencies with increased data integrity and uniformity. It can also allow for increased transparency of public owned companies’ financial records for view by ‘interested’ parties.

Cost and Time Savings: Currently all companies file their reports with regulators using formats like the Portable Document. Format (PDF) which has its inherent limitations, which include, text fields that do not identify errors and also the format does not facilitate compiling and auditing of data. Also, the costs are higher to send, receive, store, validate and audit the financial records in this format. XBRL is expected to reduce the time and hence cost.

Data Review: Businesses can use software to automatically validate data electronically received through XBRL. The XBRL software can help analyse the data and identify problems that auditors and accountants can examine than they previously did.

1. Companies internal and external financial reporting.
2. Establishing transparency in financial statements.
3. Complying with regulators.
4. Computer readable communication to share holders.
5. Increased responsiveness from weeks to days.
6. Building business reporting market places.

Adhering to mandates and Beyond:
While the current need for XBRL is primarily being viewed with respect to the mandate, XBRL can deliver long-term benefits such as:
1. Lowered cost of data handling.
2. Improved reporting speed.
3. Improved data accuracy and reliability.
4. Focus on analysis, forecasting and decision-making rather than data processing.

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