XBRL & IXBRL SOLUTIONS FOR SEC, USA & HMRC CT-UK FILLINGS

We are a Delhi, India based professionally managed and innovative corporate law service provider firm, with a multi-disciplinary focus providing top quality professional Consultancy Services keeping in mind the rapidly changing Indian and corporate world business environment with strictest and highest quality of independence and ethical standards to our various clients. We got accreditation for XBRL and IXBRL conversion, tagging, fillings, consultancy and trainings from our channel partners SOFTPARK 21 (INDIA) who has domain expertise and only recognized Indian Company for HMRC -UK and has successfully implemented the US GAAP, UK GAAP, IFRS and Custom-XBRL taxonomies in a report filing project and maintained that taxonomy for a period of 2 to 3 years. 

PNJ Legal Consultants is committed to help its clients by providing top quality and innovative business solutions by early identification of business risks and timely remedial action so that they can manage and respond to business risks that add value and contribute to their overall business growth and to establish a single window for corporate to obtain expert consultancy towards their business needs.

1.                 CONVERSION TO XBRL DATA for SEC filings of USA and iXBRL DATA for HMRC CT Filings of UK

iXBRL is the name for the format in which all future HMRC CT filings will have to be made. iXBRL is hybrid that combines the XBRL data tags with HTML formatting that make it possible to view an accurate reproduction of the accounts in a web browser.

The iXBRL tags are embedded in the XHTML version of your computation in such a manner that the browser displays the tax computation only, and ignores the XBRL tags. Its purpose is to maintain independent presentation of statutory accounts so that your electronic filing is not different to a paper copy.

 

 

 

Step 1. Request an XBRL Translation of a Financial Report

A company contacts us to request an XBRL translation of its financial statements. With our tagging platform, tags are automatically applied to the company’s financial statements (income statement, balance sheet, statement of cash flows and statement of shareholders’ equity) based on established business rules. A random manual inspection is subsequently performed by our team of taxonomy experts to quality check for any exceptions. The company then receives an intuitive XBRL proof in RIF’s format containing the translated core financial statements. On the proof, each line item is assigned an XBRL tag, followed by the definition and other relevant details of that tag in a property box. The company reviews the definitions to make sure each tagged line item is accurately described. Once the XBRL tags are mapped for a company’s core financials, the tag mapping can be reused, reducing the lead time on subsequent filings.

Step 2. Review and Validate

The company may have comments or question about some of the assigned tags. We will recommend alternate tags or create the appropriate extension for a company in line with concerned regulators specifications.

Step 3. File with the concerned statutory compliance body

We provide XBRL output files ready for filing to concerned regulatory body. This 3-step program is extremely efficient, accurate and simple for first time XBRL filers.