Financial Statements : FY 2010-11

Business Rules

The taxonomy is an electronic dictionary of all accounting concepts that may be used by a company to prepare and present its financial statements, and hence it is very exhaustive. A company has to choose (“tag”) appropriate taxonomy element for preparing its financial statement in XBRL. These taxonomy elements are available in case a company desires to disclose the same to its stakeholders. In other words, not all elements provided in the taxonomy are mandatory to be “tagged” by a company for preparing its financial statement. However, few mandatory disclosures are to be “tagged” with appropriate taxonomy elements. A list of such mandatory disclosures has been provided in the Business Rule provided here. Only those elements have been identified for mandatory tagging that are mandatory disclosure as per provisions of Schedule VI, Accounting Standards, companies law, etc.