XBRL Data Conversion Services

XBRL Data Conversion Services

Simplifying Financial Reporting with XBRL Conversion by TKM Associates

At TKM Associates, we offer XBRL Data Conversion Services to help businesses meet regulatory filing requirements and enhance the accessibility and accuracy of their financial data. Using the Extensible Business Reporting Language (XBRL), we convert your financial statements into a standardized, machine-readable format that ensures compliance and improves stakeholder communication.

What Is XBRL?

XBRL (Extensible Business Reporting Language) is a global standard for exchanging business information digitally. It simplifies financial reporting by enabling the preparation, analysis, and exchange of financial data in a structured and consistent format. XBRL conversion is mandatory for companies required to file financial statements with regulatory authorities like the Ministry of Corporate Affairs (MCA) in India.

Our XBRL Data Conversion Services Include:

Mapping Financial Statements:

• Mapping your financial statements to the relevant XBRL taxonomy as per MCA guidelines.
• Ensuring the accuracy and completeness of all mapped data fields.

Data Validation and Review:

• Conducting a thorough review to ensure data integrity and compliance with XBRL standards.
• Identifying and correcting any inconsistencies or errors.

Tagging and Structuring Data:

• Tagging financial elements with appropriate XBRL tags to align with regulatory requirements.
• Structuring data in a format suitable for electronic submission.

Conversion to XBRL Format:

• Converting financial data from traditional formats (e.g., Excel, Word) into XBRL format.
• Generating XBRL instance documents ready for filing.

Compliance with Regulatory Bodies:

• Ensuring compliance with filing standards of Indian regulatory bodies like MCA, SEBI, and others.
• Adhering to prescribed taxonomies such as Ind AS or AS.

Assistance with Filing:

• Supporting the submission of XBRL documents to regulatory authorities.
• Providing guidance on filing procedures and deadlines.

Custom XBRL Solutions:

• Developing tailored XBRL conversion solutions to meet specific industry or business requirements.

Benefits of XBRL Data Conversion Services:

• Regulatory Compliance: Ensure seamless compliance with MCA and other regulatory requirements.
• Accuracy and Standardization: Improve the accuracy and consistency of financial data across systems.
• Enhanced Transparency: Facilitate better analysis and comparison of financial information for stakeholders.
• Cost and Time Efficiency: Streamline the reporting process and reduce manual efforts.
• Future-Proof Reporting: Adopt a global standard that ensures scalability and adaptability for evolving regulations.

Why Choose TKM Associates for XBRL Conversion?

• Expertise in Financial Reporting: Our team is proficient in XBRL taxonomy and regulatory requirements.
• Accuracy and Compliance: We ensure that your financial data is error-free and meets all compliance standards.
• Timely Delivery: We provide quick turnaround times, ensuring timely submission of filings.
• Customized Solutions: Services tailored to meet your unique reporting needs.
• Confidentiality Assured: We handle your financial data with the highest level of security and discretion.

Industries We Serve:

• Corporate Entities
• Financial Institutions
• IT and Technology Companies
• Manufacturing and Retail Sectors

Streamline Your Financial Reporting with TKM Associates

Switch to a smarter and more efficient way of financial reporting with our XBRL Data Conversion Services. At TKM Associates, we make compliance simple and reporting seamless, enabling your business to focus on growth.