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WHAT IS XBRL?
(Extensible Business Reporting Language) is a language for the electronic communication of business and financial data revolutionizing business reporting around the globe. XBRL is a member of the family of computer languages based on XML (Extensible Markup Language), which is a standard for the electronic exchange of data between businesses and on the internet. Under XML, identified tags are applied to items of data so that they can be processed efficiently by computer software.
BENEFITS OF XBRL REPORTING
XBRL reporting system has revolutionized financial reporting, and also use of those reports by the Stakeholders. Merits of it can be summarized as follows;
STEPS INVOLVED IN IMPLEMENTING THE XBRL PROJECT
It offers major benefits in the preparation, analysis and communication of business information. It provides cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data.
STEPS INVOLVED IN FILLING OF ACCOUNTS IN XBRL:
It has already been confirmed that XBRL is versatile and very much useful for financial and business analysis to the investors and other stakeholders. Based on its success story, all the countries are coming forward to embrace this reporting language. Many countries have made its application compulsory, and others are in the pipeline. In the coming few years it is going to be adopted by all the countries. Though India has made a delayed entry, still she is moving at a faster rate to catch up with others. The accountants in India will have to make themselves ready to take the challenges of introduction of XBRL in India.
We offer a complete range of XBRL generation services to corporations, mutual funds, financial printers and filing agents. Our customers derive benefit from our proven service process to prepare and file the highest quality XBRL documents. With over a decade of experience offering services to global customers, well qualified, trained and experienced accounting professionals along with the technical experts in the core conversion team is the strength of this organization. Our expertise with XBRL, XML and document parsing technologies has made it possible for us to be a dependable partner.
Through our services, we facilitate the integration of our XBRL tools within an organization. Additionally, our extensive experience of data tagging services has enabled us to evolve robust processes to help customers abstain the typical pitfalls of XBRL implementations.
From training to XBRL validation, our services help address each phase of the XBRL lifecycle. Below, there is a list of the primary services we offer.
WHY OUTSOURCE TO US?
We manage all elements of your XBRL compliance, assuring that you do not have to invest in high-priced software or manpower. And "To achieve competitive advantage by rapidly providing cost-effective, advanced, high-end technology enabled value-added business solutions"
Private Limited Companies are those types of companies where minimum number of members is two and maximum number is two hundred. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc., The maximum number of directors shall have to be mentioned in the Articles of Association. In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
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Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
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Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
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We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
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