Thursday May 3 2018
News Source: Global Exchanges
Focus: Other
Type: General
Country: India
On 2nd May 2018, Bombay Stock Exchange announced that it has implemented XBRL reporting standards. XBRL is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. The standardisation in-built in the XBRL documents provides significant benefits in the preparation, analysis and communication of business information. XBRL provides a language in which reporting terms can be authoritatively defined.
XBRL standards are expected to ease filings and reporting by listed entities to Stock Exchanges and it will make them more accurate.
These standards are expected to be introduced to National Stock Exchange of India and Metropolitan Stock Exchange.
BSE was the first Stock Exchange in India to introduce and implement XBRL based reporting in the year 2015 and had developed, introduced and successfully implemented the relevant XBRL Taxonomies and filing utilities.
For additional information please click the link above.