• Dr. Manjit Singh Saggi

Known as the barcode of corporate reporting XBRL is an internet based computer language meant for electronic communication of financial data. XBRL was developed by XBRL International which was established in the year 1998 as a not-for-profit consortium of over 600 companies and organisations. XBRL is a set of standards known as taxonomies developed with with the help of Extensible Markup Language (EML). The basic objective of these efforts is to provide a standard language for digitizing business reports the world over. XBRL International has produced various specifications and taxonomies to bring uniformity in corporate reporting practices over the globe. The scope of XBRL is not restricted to corporate sector but can be used in other reporting regimes like insurance, banking, hospitals civil authorities etc. For the purpose of promotion and implementation of the use of XBRL in India, a company named XBRL India was established Under Section 8 of the Companies Act, 2013. XBRL India is managing the affairs of Indian jurisdiction of XBRL International while acting as nodal agency for the development, promotion and use of XBRL in India. Serious efforts have been made by the regulatory bodies of some countries like USA, Japan, Spain etc. in this direction. In India the ICAI and the Ministry of Corporate Affairs are working hard to implement XBRL. The present study is meant for exploring insights into the various aspects involved in the use of XBRL in Indian corporate reporting. The study attempts to achieve the objectives of need, factors and opportunities in XBRL enabled corporate reporting practices in India. The results of the study found that streamlining corporate disclosure and better decision making are the most important needs; cost and presentation are the most important factors whereas comprehensiveness and globalisation are the most important opportunities in adoption of XBRL based corporate disclosure in India.

XBRL; Corporate Disclosure; e-reporting

"Exploring Insights into the Use of XBRL In Indian Corporate Reporting ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 12, page no.1392-1401, December-2018, Available :http://www.jetir.org/papers/JETIR1812D99.pdf

"Exploring Insights into the Use of XBRL In Indian Corporate Reporting ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 12, page no. pp1392-1401, December-2018, Available at : http://www.jetir.org/papers/JETIR1812D99.pdf