Getting Started With MCA Reports (in XBRL Format) | Tally.NET Services | Tally Intergation | Tally Helpdesk

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Getting Startedwith

MCA Reports (in XBRL Format)


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Version: Getting Started with MCA Reports in Tally.ERP 9/Release 3.3/December 2011


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i

Contents

IntroductionXBRL Data Structure ................................................................................................................................1

XBRL Format for Reporting in India ........ ............... ............... ................ ............... ................ ............... ... 2

Preparation & Filling of Financial Reports in XBRL Format ..... ............... .............. ................ ............. ... 3

Steps for Filing Financial Statements in XBRL form in MCA21 System .............................................................3

Features of MCA Reports in Tally.ERP 9 ................................................................................................4

Lesson 1: Enabling MCA Reports in Tally.ERP 9

1.1 Enabling MCA Reports in Tally.ERP 9 .............. ............. ................ ............... .............. ................ .... 5

1.1.1 Generating reports in XBRL format ..........................................................................................................6

Lesson 2: Configure List of Accounts

2.1 Configure MCA Taxonomy Elements ............. ............... ............... ................ .............. ............... ...... 8

2.2 Profit and Loss Adjustments & Appropriations ................ .............. .............. ............... .............. .... 12

2.2.1 Profit and Loss Adjustments & Appropriations are already accounted in the Books of Accounts .........13

2.2.2 Profit and Loss Adjustments & Appropriations are not accounted in the books of Accounts .................14

2.2.3 Earnings Per Share Calculation ..............................................................................................................18

2.3 Cash Flow Statement .............. ............... ................ .............. ............... ................ ................ ............ 18

2.3.1 Prepare Cash Flow Statement in Tally.ERP 9 ........................................................................................19

2.3.2 Disclose Details in Cash Flow Statement Manually or Auto Fill ...........................................................22

2.4 Select Previous Year Company ........................... .............. ............... .............. .............. ................ .. 24

2.4.1 Restore Mapped List of Accounts ............................................................................................................25

2.5 View Checklist..... ............... .............. ............... ............... ............... ............... ................ .............. .... 26

2.6 Configure Mandatory Information .............. ............... ............... ............... ............... ................. ....... 27

2.6.1 Balance Sheet...........................................................................................................................................27

2.6.2 Cash Flow Statement ...............................................................................................................................31

2.6.3 Company Information ..............................................................................................................................32

2.6.4 Profit and Loss Account...........................................................................................................................33

2.6.5 Show Unmapped List of Accounts ...........................................................................................................34

Lesson 3: Configure Additional Details

3.1 General Information .............. ................ .............. ............... ................ ............... ................ .............. 36

3.2 Details of Inventories .............. ............... .............. ................ ............... ............... ................. ............ 39

3.3 Details of Turnover .............. .............. ............... ............... ................ .............. ................ ............... .. 40

3.4 Accounting Policies and Basis of Presentation........... .............. ................ .............. ............... ......... 40

3.5 Changes in Accounting Policies and Estimates ......................... ............... ................ ............... ....... 45

3.6 Events occurring after Balance Sheet Date ............... ............... ............... ............... ............... .......... 46

3.7 Foreign Exchange Transactions ............. ............... ............... ............... ................ ............... ............. 47

3.8 Government Grants and Subsidies .............. ................ ............... ............... ............... ................. ..... 48

3.9 Amalgamation .................................................................................................................................49


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3.10 Employee Benefits .............. ................ ............... ............... ............... ............... ................ .............. 50

3.11 Segment Reporting ............... ................ .............. ............... ................ .............. ................ ............ 51

3.11.1 Primary Segments ..................................................................................................................................52

3.11.2 Secondary Segments ..............................................................................................................................53

3.12 Related Parties ............. ............... ............... ............... ............... ............... ................ ................ ..... 53

3.12.1 Related Party Transactions ...................................................................................................................54

3.13 Leases .............. ............... ............... ............... .............. ............... .............. ................ ............... ....... 56

3.14 Earnings per Share .............. .............. ................ ............. ................ .............. ............... ................ .. 57

3.15 Subsidiary Information ............... ................ .............. ............... ................ .............. ................. ..... 58

3.16 Deferred Tax Assets and Liabilities ............... ............... ............... ............... ............... .................. 60

3.17 Investment in Associates .............................................................................................................. 61

3.18 Investment in Joint Venture ................ .............. ............... ................ .............. ............... ................ 62

3.19 Discontinuing Operations .............. ............... ................ ............... ............... ............... ................. .. 63

3.20 Intangible Assets .............. .............. ............... ............... ............... ............... ................ .............. ..... 643.21 Impairment of Assets ............... .............. ................ .............. ............... .............. ................. .......... 65

3.22 Provisions and Contingencies ............. ............... ............... ............... ............... ............... .............. 66

3.23 Cash Flow Statement and Balances .............. ................ .............. ............... .............. ................. .... 67

3.24 Foreign Bank Balances ............... .............. ............... ............... ............... ............... ................. ....... 68

3.25 Due to MSME ............. ................ .............. ............... ............... ............... ............... .............. .......... 68

3.26 Directors and Remuneration to Directors ........................ ............... .............. .............. ................ .. 71

3.27 Other Disclosures...... .............. ................ .............. ............... ................ .............. ................ ........... 72

3.28 Auditors Report ............. .............. ............... ............... ............... ............... .............. ................ ........ 73

3.29 Auditors Information ............. ............... ............... .............. ................ .............. .................. .......... 74

3.30 Directors Report ............... .............. ............... ............... ............... ............... ................. ................ .. 753.31 Signatories of Balance Sheet ............. ............... ............... ............... ............... ................ ............... 76

3.31.1 Details of Directors Signing Board Report ...........................................................................................77

3.31.2 Details of Managers Signing Balance Sheet .........................................................................................78

3.32 Prior Period, Extraordinary And Exceptional Items ....................... .............. .............. ................ .. 79

3.33 Share Capital ............... ............... ............... ............... .............. ................ .............. ............... .......... 80

3.33.1 Additional Information Relating to Share Capital ................................................................................81

3.33.2 Details of every class of Share Capital issued during period ...............................................................82

3.34 Additional Information Relating to Balance Sheet Items ................... ............... .............. ............. 83

3.34.1 Details of Debentures ...........................................................................................................................84

3.35 Miscellaneous Information ............. ............... ............... ............... ............... ............... ................ ... 85

3.36 Additional Details for the Tangible Assets .............. ................ ............... ................ ............... ....... 863.37 Additional Details for the Intangible Assets .............. ............... ................ ............... ................ ..... 91

3.38 Details of Deferred Tax .............. ............... ............... ............... ............... ................ ............... ....... 92

3.39 Specify Report ............... ................ ............... .............. ................ ............... ................ .............. ..... 93

3.40 Update Status .............. ............... ............... .............. ............... .............. ................ ............... .......... 93

Lesson 4: Generate and Validate MCA Reports

4.1 Generate MCA Reports ............................ .............. ................ ............... ............... ................ .......... 95


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4.2 Validate MCA Reports .............. .............. ............... .............. ................ .............. ................ ............ 97

4.2.1 Validation Process ...................................................................................................................................97

4.2.2 Pre-scrutiny Process .............................................................................................................................100

4.2.3 Export to PDF Process .......................................................................................................................... 100

4.2.4 Attach instance document to the Form 23AC-XBRL and Form 23ACA-XBRL .....................................102

4.2.5 Submitting the Form 23AC-XBRL and Form 23ACAXBRL on the MCA portal ...................................102

Lesson 5: MCA Reports

5.1 Balance Sheet ............. ................ .............. ............... .............. ................ ............... ............... .......... 104

5.1.1 Non Mapped Ledgers .............................................................................................................................105

5.2 Profit & Loss Statement .............. ................ .............. ............... .............. ................ ............... ........ 107

5.2.1 Non Mapped Ledgers .............................................................................................................................108

5.3 Cash Flow Statement .............. ............... ................ .............. ............... ................ ................ .......... 110

5.4 Other Reports ............. ............... ............... ............... ............... ............... ............... ................ ......... 111

5.4.1 Fixed Assets Details ...............................................................................................................................111

5.4.2 Product and Services .............................................................................................................................112

5.4.3 Details of Goods ....................................................................................................................................117

5.4.4 Raw Materials Details ........................................................................................................................... 121


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1

Introduction

XBRL is a language for the electronic communication of business and financial data which is rev-olutionizing business reporting around the world. XBRL stands for eXtensible BusinessReporting Language. It is one of a family of XML languages which is becoming a standard

means of communicating information between businesses and on the internet.XBRL was developed to facilitate electronic exchange of Business reporting Data across variouscomputer platforms. It supports the preparation, analysis and communication of business informa-tion. It also offers the benefits like:

Cost Saving

Greater Efficiency

Improved accuracy and Reliability

Greater Transparency

XBRL is being developed by an international non-profit consortium of approximately 450 major

companies, organisations and government agencies. It is a freely available, market driven, open,global standard language. It is already being put to practical use in countries like USA, UK, Aus-tralia, China, etc.

XBRL Data Structure

XBRL provides business data on machine readable XML format with the help ofTaxonomy andInstanceDocument.

Taxonomies are dictionaries used by XBRL. They define the elements (specific tags) for individ-ual items of data (such as "net profit") and their interrelationship as per the regulatory require-

ments. Different taxonomies will be required for different financial reporting purposes. DifferentXBRL jurisdictions may have their own financial reporting taxonomies to reflect their localaccounting regulations. Many different organisations, including regulators, specific industries oreven companies, may require taxonomies to cover their own business reporting needs.

Besides assigning XBRL tag from taxonomy, information like unit of measurement, period of data,and scale of reporting etc. needs to be included in the instance Document. Once the taxonomy isdetermined in compliance with applicable regulations, the companies are required to generatevalid XBRL Instance Document.


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XBRL Format for Reporting in India

Due to globalisation of businesses, the users of financial information of the business is spread

across the globe. For the purpose of making the reported financial information usable across theglobe, one common reporting language XBRL was introduced. This is universally adoptedcomputer readable language for reporting the financial information. Using this, any financialreports can be viewed in the common format using XBRL in the prescribed format.

In order meet the universal requirements, India also adopted the practice and introduced theconcept of using XBRL for Financial Reporting. As a part of this initiation, On June 7, 2011 theMinistry of Corporate Affairs (MCA) mandated the filing of the annual financial statements inXBRL format for all the financial statements prepared for the period starting from 31st March 2011(i.e. from the financial year 2010-11).

As per the MCA circular, the following is the eligibility criteria for filing the financial statements inXBRL in the format prescribed in the Taxonomy published by the MCA.

All listed companies including their Indian subsidiaries (but excluding the overseas subsidi-aries)

Companies having a paid up capital of more than Rs. 5 crore or turnover of Rs.100 crore orabove

In the first phase Banking, Insurance, Power, and Non-Banking Financial Companies (NBFC) areexempted from submitting financial report in XBRL Format.

Now, Indian companies can use internationally accepted reporting format XBRL to save costsand streamline their processes for collecting and reporting financial information. Consumers offinancial data, including investors, analysts, financial institutions and regulators, can receive,discover, compare and analyse data much more rapidly and efficiently if it is in XBRL format. Italso assists to access non-financial information like supplier data, customer application forms,project data, employee information, regulatory submissions, and Management InformationSystem on the company.

To assist and manage XBRL Reporting, Ministry of Corporate Affairs has set up e-governanceweb portal Ministry of Corporate Affairs XBRL (http://www.mca.gov.in/XBRL/index.html).


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Preparation & Filling of Financial Reports in XBRL Format

Companies incorporated under the Companies Act 1956, are required to file returns with the

Registrar of Companies (ROC) every year. Ministry of Corporate Affairs (MCA) mandated thecompanies to file the annual financial statements in XBRL format for the Year 2010-11 onwards.

As per the MCA circular, the following is the eligibility criteria for filing the financial statements inXBRL in the format prescribed in the Taxonomy published by the MCA.

All listed companies including their Indian subsidiaries (but excluding the overseas subsidi-aries)

Companies having a paid up capital of more than Rs. 5 crore or turnover of Rs.100 crore orabove

Assessees who are submitting their financial statements to the MCA as a part of their statutorycompliance, need to (who have computerized systems in place) and can) generate their financialreports in XBRL and submit to MCA. (from their existing application/product/tool). Department hasgiven the process to prepare financial reports in XBRL in the format as prescribed in a Taxonomy,and provided a tool to validate the reports and upload the reports to MCA21 system.

Steps for Filing Financial Statements in XBRL form in MCA21 System

1. Create XBRL Instance Document

Map companys financial element to corresponding element in taxonomy

Create the XBRL instance document for Balance Sheet and Profit & Loss Account

Review and verify the Instance Document

2. Download the XBRL Validation Tool form MCA Portal3. Validate the XBRL instance document and to be certified by any of the members of ICAI,

ICWAI and ICSI who are in whole time practice.

4. Perform pre-scrutiny of the validated instance document through the tool (to perform pre-scru-tiny, enterprises should have a working internet connection)

5. Attach the Instance Document to the Form 23AC and 23ACA

6. Submit/Upload the Form 23AC and Form 23ACA on the MCA portal

XBRL Validation Toolis provided by MCA to validate the XBRL instance docu-

ment generated by IT vendors / IT departments from their respective products/

tools.

Form 23AC- Form for e-filingBalance Sheetwith the Registrar

Form 23ACA - From for e-filingProfit & Loss Accountwith the registrar


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Lesson 1: Enabling MCA Reports in Tally.ERP 9

1.1 Enabling MCA Reports in Tally.ERP 9

Enabling MCA Reports is a simple and easy process.To enable MCA Reports Feature in Tally.ERP 9, follow the steps given below:

Go to Gateway of Tally > F11: Features > Statutory & Taxation Features

Set the option Enable MCA Reports toYes

Figure 1.1 Enabling MCA Reports


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Enabling MCA Reports in Tally.ERP 9

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1.1.1 Generating reports in XBRL format

Generating reports in MCA-XBRL format is a Three step process in Tally.ERP 9.

Ensure the values for Mandatory Fields

Map Tallly.ERP 9s Default Groups to MCA Taxonomy Elements. User has to tag therespective applicable Taxonomy child elements to the Group/Sub group.

Generate the MCA Reports in prescribed MCA-XBRL format


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Lesson 2: Configure List of Accounts

The List of Accounts Configuration report displays the mapping details for each default TallyGroup with the MCA - XBRL Head with Group Closing Balance.

To view the List of Accounts Configuration report,

Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > List of Accounts

Figure 2.1 List of Accounts Configuration Screen

The List of Accounts Configuration report displays the Default Tally Groups in BlueColour.Users have to map the Tally.ERP 9 default groups/subgroups/ledgers from the above report bypressing Ctrl+Enteron the required Group/Subgroup/ledger or select (by pressing Spacebar key)required Group/ Subgroup/ ledger and click on C: Map Elements button to Configure MCATaxonomy Element.


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Configure List of Accounts

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Figure 2.4 Selection of Taxonomy Elements

Press Enterto save the tagging

The List of Accounts Configuration report with the mapped MCA Taxonomy Element appears asshown:

Figure 2.5 Mapped List of Account

On mapping the List of Accounts with MCA Taxonomy, the mapped Ledger's colour getschanged to Black indicating that the ledger is mapped.

Tally.ERP 9 will allow to re-configure the default mapping only with the MCA -

XBRL Taxonomy displayed in Blue (child taxonomy element). It will not allow to map

the MCA - XBRL Taxonomy displayed in Black(parent Taxonomy element).


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If you map the Group with MCA Taxonomy, then all the ledgers created under it will mapped withthe MCA Taxonomy selected for the Group.

Figure 2.6 Mapping of Group

Figure 2.7 Mapping with the MCA Taxonomy Element


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Figure 2.8 Display of Mapped Group & Ledgers

2.2 Profit and Loss Adjustments & Appropriations

In Profit and Loss Adjustments & Appropriations screen company can disclose the details ofProfits distributed after Net Profit is arrived.

Net Profit = Gross Profit - Administration & Selling Expenses - Other Expenses - Taxes - Depreci-ation + Other Incomes.

To disclose the details of Profit & Loss Adjustments/ Appropriations,

Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > List of Accounts >Profit and Loss Adjustments & Appropriations > press Ctrl + Enter

Figure 2.9 Profit and Loss Adjustments & Appropriations Screen


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In Profit and Loss Adjustments & Appropriations screen,

Net Profit as per Profit & Loss Account: Net Profit displayed in this field is captured from

Profit & Loss A/c Net Profit as per MCA - Taxonomy Element: Net Profit is displayed based on the map-

ping of MCA - Taxonomy Elements.

The NetProfit displayed in both the fields should be same to confirm that the books of accountsand the details disclosed in Instance Document are correct.

As different companies follow different methods to arrive Profit, difference in NetProfit may befound. Example: when a company has recorded all the adjustment/appropriation entries in booksof accounts but are not mapped to generate XBRL Instance Document. In this case Net Profit asperProfit & Loss Account will be less than the Net Profit as per MCA Taxonomy Element.

Hence, while disclosing the Profit and Loss Adjustments & Appropriations details, companiescan follow any one of the methods given:

2.2.1 Profit and Loss Adjustments & Appropriations are already accountedin the Books of Accounts

If the company has already recorded all the Profit & loss adjustment transactions then, theadjusted values can be entered/specified for the appropriate Taxonomy elements manually. Thevalues are entered manually will be considered only for Taxonomy elements and will not affect thebooks of accounts.

Example: ABC Company has already accounted the transfer of Rs. 12,00,000 to GeneralReserves. Hence, the value of Reserves is being enteredmanuallyin P& L Adjustment & Appor-tions.

Figure 2.10 P & L Appropriation Report after Manual Accounting of Reserves


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On disclosure of all the Profit and Loss Adjustments & Appropriations the Profit/Loss as perMCA Taxonomy Elements and Books of accounts transferred to Balance sheet will be dis-played.

Profit/Loss as per MCA Taxonomy Elements = Net Profit as per MCA Taxonomy Ele-ments - Taxonomy Element amount (addition/Subtraction)

Profit/Loss as per Books of accounts transferred to Balance sheet = Net Profit as perProfit & Loss Account

2.2.2 Profit and Loss Adjustments & Appropriations are not accounted inthe books of Accounts

If the company has not accounted the P& L Appropriations, to disclose the such information fortaxonomy elements and Books accounts,

Example: ABC Company wants to allocate Rs. 12,00,000towards GeneralReserve. It has notaccounted the allocation in Books of Accounts.

Navigate to the appropriate taxonomy element and click on F7: Create Voucherbutton or pressF7 key to navigate to JournalVoucherto record the adjustments/ appropriations.

Figure 2.11 Selecting Create Voucher option

The Profit/Loss displayed in both the fields should be same to confirm that the

books of accounts and the details disclosed in Instance Document are correct.

If there is any difference, the Difference amount will be displayed in Red.


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In JournalVoucher,

Debit - Profit & Loss A/c and enter the amount allocated in Amount field.

Credit - Reserves & Surplus ledger. on selection of Ledger Tally displays the AdjustmentType screen to select the Taxonomy elements towards which the value to be mapped. Inthis screen select the appropriate taxonomy element e.g. Appropriations GeneralReserve

Figure 2.12 Selection of Adjustment Type in Journal Voucher


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Figure 2.13 Completed Journal Voucher

All adjustments/appropriations have to be accounted using the ledger Profit & Loss A/c. If Profit &Loss A/c ledger is not used to account the adjustments, such transactions will be considered asnormal adjustments and will not be displayed in Profit and Loss Adjustments & Appropriationsscreen.

On accepting the voucher the allocated value will be displayed in Profit and Loss Adjustment &Appropriations screen as shown:

From JournalVoucher, Tally.ERP 9 will not allow the user to navigate to any other

vouchers.

To navigate back to Profit and Loss Adjustment & Appropriations screen press

Escape from JournalVoucher.


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Figure 2.14 P& L Appropriation report with Auto-filled Value

On disclosure of all the Profit and Loss Adjustments & Appropriations the Profit/Loss as perMCA Taxonomy Elements and Books of accounts transferred to Balance sheet will be dis-played.

Profit/Loss as per MCA Taxonomy Elements = Net Profit as per MCA Taxonomy Ele-ments - Taxonomy Element amount (addition/Subtraction)

Profit/Loss as per Books of accounts transferred to Balance sheet = Net Profit as perProfit & Loss Account - Taxonomy Element amount (addition/Subtraction).

The Profit/ Loss displayed in both the fields should be same to confirm that the

books of accounts and the details disclosed in Instance Document are correct.


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2.2.3 Earnings Per Share Calculation

In this section, company has to disclose Basic and DilutedEarningspershare on the undistrib-

uted profits along with the information ofaverage number of shares considered for calculatingdiluted earnings per share.

Figure 2.15 Earnings Per Share Calculation Section

2.3 Cash Flow Statement

Every enterprise has to prepare a Cash Flow Statement to report cash flows during the periodclassified by Operating, Investing and Financing Activities in a manner which is most appropriateto its business.

An enterprise can report cash flows using either

1. Direct method Where the major classes of gross cash receipts and gross cash paymentsare disclosed.

2. Indirectmethod Where the net profit or loss is adjusted for the effects of transactions of anon-cash nature, any delays or accruals of past or future operating cash receipts or payments,and items of income or expense associated with investing or financing cash flows.

From Profit & Loss Adjustments and Appropriations screen, users can view the

JournalVouchers recorded usingF7: Create Vouchers button.

To view Journal Vouchers recorded from Profit & Loss Adjustments and Appropria-tions, click on F8: Show Vouchers button or press F8key.

JournalVoucherlists only those Journal Voucher which are recorded from Profit &

Loss Adjustments and Appropriations report.


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While reporting the cash flows of Operating, Investing and Financing activities, enterprise has todisclose the details

Foreign Currency Cash Flows Extraordinary Items

Interest & Dividends

Taxes on Income

Investments in Subsidiaries, Associates and Joint Ventures

Acquisitions and Disposals of Subsidiaries and Other Business Units

Non-cash Transactions

Components of Cash and Cash Equivalents

Other Disclosures

2.3.1 Prepare Cash Flow Statement in Tally.ERP 9

To prepare the Cash Flow Statement,

Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > List of Accounts >Cash Flow Statement

Figure 2.16 Cash Flow Statement


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Tally.ERP 9, allows the user to prepare the Cash Flow Statements using Direct Method or IndirectMethod. In Cash Flow Statements screen, Indirect Method will be displayed as the defaultmethod used for generation of Cash Flow Statement. If the company is following different Type of

Cash Flow Statement, the same can be configured in GeneralConfiguration. When the Typeof Cash Flow Statement is configured, the same will be captured in method used for generationof Cash Flow Statement field in Cash Flow Statements screen.

In Cash Flow Statement screen enter the information of: Adjustments of amortization, bad Debts recovered, depreciation, dividend received by the

company & subsidiary, employee compensation, employee stock option plan, gain or lossof foreign exchange fluctuations, gain or loss on sale of fixed Assets, impairment loss,interest expense, income tax refund, liabilities written off, write-off debts, etc.

Changes in advance of tax, advances received, amount receivable from related parties,current liabilities provisions, inventories, loan advances, current assets, liabilities, prepaidexpenses, provisions, working capital etc.

Expenses of Debt Issue and Refunded Direct Taxes.

Dividend & Dividend distribution Tax paid on equity and preference shares.

Effect of Foreign Exchange in cash and Cash equivalents.

Extraordinary financing and investing activities

Cash Flow Increase or Decrease because ofDiscontinuedOperations.

Interest Expenses paid on bank borrowings, inter-corporate deposits, long-term & Short-term loans etc.

Loans & Advances made to others, subsidiaries etc.

Net Cash Flow of financing, investing and indirect operating activities.

Net Changes in reserves, subsidy and discontinuing operations.

Other Financing and Investing activities

Non-operating and Non-cash adjustments made.

Payments to acquire the business, buy back equity shares, investing in Bank Deposits, todevelop Fixed Assets, etc.

Proceeds of joint ventures, associates, disposal of fixed assets, Investments, Subsidiaries,dividend Investments, dividend mutual funds, bank deposits, issue of equity and Prefer-ence shares, sale of business etc.

Purchase of associates, fixed assets, Equity and Preference Shares, Government securi-ties, intangible fixed assets, investment properties, subsidiaries etc.

Tally.ERP 9 will not allow the user to change the Type of Cash Flow Statement in

Cash Flow Statements screen. Cash Flow Statement Type can be configured only

from GeneralConfigurations.


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Repayment of long & short-term borrowings from banks, related parties etc.

Share issue Expenses and debt issue expenses.

The Cash Flow Statement with Previous Year Amount details appears as shown:

Figure 2.17 Completed Cash Flow Statement

If the company has previous year data, then the data can be loaded using the option

F3: Previous Cmp. The previous year closing balances will be displayed in

Previous Year Amountcolumn.


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2.3.2 Disclose Details in Cash Flow Statement Manually or Auto Fill

Company can disclose the Cash Flow details by manually entering the Value or by selecting the

applicable ledgers to auto-fill the values.

Let us take a scenario where ABC Company has to disclose details of Purchase of IntangibleFixed Assets during the Period.

In this case to auto-fill the value,

In Reporting Yearcolumn tab down to Purchase intangible fixed assets field and click on S:Show Ledgerbutton or press Alt+S keys to view the List of Ledgers. By default the List ofLedgers screen displays the ledgers grouped underBankAccount.

From List of Ledgers screen select the Bank Current Account Ledger to view the List of Trans-actions for selected Ledger screen.

Figure 2.18 Selection of Bank Ledger

In List of Transactions for Selected Ledger screen, select the appropriate transaction (usespacebar to select the transaction) and press enter.

Figure 2.19 List of Transactions of Selected Bank Ledgers


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The transaction amount will be displayed against the Ledger. Press Ctrl+A or click on A: Acceptbutton.

Figure 2.20 List of Ledgers with the Amount of Transaction Selected

Amount ofRs. 25,00,000 will be auto-filled automatically forPurchase intangible fixed assetsin the Amount column.

Figure 2.21 Cash Flow Statement with Auto-filled Amount

All the information for the Cash Flow Statement is mandatory and to be fil led com-

pulsorily. If value is not available, then Zero (0) needs to be specified.


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Figure 2.24 Display of Previous Year Company Loaded

2.4.1 Restore Mapped List of Accounts

Restore option will revert all the List of Accounts mapping that the user has made for theselected Group/Subgroup/Ledgers.

To restore list of mapping,

Click on F10: Restore or press Ctrl+F10 to restore the List of Accounts Configuration/mapping.

To revert the configuration ofOne orFew List of Accounts, first select the ledgers/Groups/sub-groups using spacebar and then click on Restore button.

If the Restore option is used without selecting any of the ledgers/Groups/sub-groups, then systemwill understand that the restore instruction is for all the List of Accounts and will display thefollowing message. On confirmation it will revert all the set mapping which you cannot undo.

Figure 2.25 Message to Restore All the Accounts

If the Multiple years data is in the same Company, then the Pervious Year

Companyfield will be changed to Previous Year Periodand based on the based

on the Financial Year Beginning period the Previous Year Periodwill be displayed.


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2.5 View Checklist

This report displays the details which are mandatory and the indication of completion of disclosure

of details. Before generating MCA reports, this report can be referred to check whether all theinformation are disclosed. Click on L: Checklist or press Alt+L keys to view the check list for gen-eration of Reports.

Figure 2.26 Check List for Generation of Reports

From this screen user can drill down to respective screens to disclose the details.


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2.6 Configure Mandatory Information

For proper disclosure of financial reports, Registrar of Companies has defined the guidelines

where it has identified some of the Operating and Non-Operating Informations as Mandatory,which has to disclosed in financial reports by all the registered companies.

In Tally.ERP 9 users can view the Mandatory Information to be captured in:

Balance Sheet

Cash Flow

Company Information

Profit and Loss Account

The mandatory informations will be automatically captured from the Books of Accounts main-tained. Enterprises can configure the values/details of Mandatory Information as per the require-ment to generate valid instance document.

To configure Mandatory Information,

Go to Gateway of Tally.ERP 9 > Display > Statutory Reports > MCA Reports > List ofAccounts

Click on M: Mandatory Info. or press Alt+ M to view Select Item screen

In Select Item screen, select the Report (e.g. Balance Sheet) from the List of ReportNames

2.6.1 Balance Sheet

The Mandatory Information for Balance Sheet screen is displayed as shown:

Figure 2.27 Mandatory Information Balance Sheet


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The mandatory taxonomy elements for balance sheet appears on the left side and current andprevious year amount for each mandatory taxonomy head appears on the right side of the reportalong with the Current and Previous period details.

In Mandatory Information for Balance Sheet screen,

Values for the Taxonomyheads underSource of Funds and Application of Funds willbe automatically captured based on the List of Accounts configuration done.

For the taxonomy heads displayed under

Share Capital Details values will be captured automatically from Disclosure of ShareCapital

Details of Deposits, values will be captured automatically from Additional InformationRelating to Balance Sheet Items if details are disclosed in the respective AdditionalDetails screen.

To fill the mandatory info, select the Taxonomy head and click on F: FillMandatoryInfo button orpress Alt+F keys to view the applicabledisclosure screen. In the Disclosure screen enter thedetails and save.

Figure 2.28 Selection of Fill Mandatory Information option


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In Disclosure of Share Capital screen enter the applicable details as shown and accept thescreen.

Figure 2.29 Disclosure of Mandatory Information

All the taxonomy elements displayed in the Disclosure screen are mandatory. If

the fields are empty, Tally.ERP 9 will not allow to continue to define other details and

save the Disclosure.


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After filling the mandatory Share Capital Details, the Mandatory Information for Balance Sheetscreen appears as shown:

Figure 2.30 Mandatory Information filled Balance Sheet Screen

If any of the MandatoryInformation is not applicable or doesn't have value, then it

is must to fill with Zero to generate valid MCA Reports.

To fill Zero, press Alt+Zor Click on Z: Set Zero button. On performing the opera-

tion, Zeros will be filled to the mandatory informations without Value.


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2.6.2 Cash Flow Statement

In Cash Flow Statements all the fields are mandatory. The Cash Flow Statement configured from

MCA-XBRL Master Configuration screen will be displayed here. From this screen, you cannotenter/specify the amount to taxonomy elements. However this can be sued as a second check tosee that all taxonomy elements carry amount and can compare the amount entered in cash flowstatement with Default Cash Flow.

Figure 2.31 Cash Flow Statement


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2.6.3 Company Information

This screen displays the mandatory taxonomy elements in Company Information screen.

Figure 2.32 Company Information Screen

To fill the mandatory Company Information, click on F: Fill MandatoryInfo button or press Alt+Fkeys to view General Information screen. In General Information screen enter the details andsave.


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2.6.4 Profit and Loss Account

In Profit and Loss Account all the fields are mandatory. The Profit and Loss Adjustments &

Appropriations done from MCA-XBRL Master Configuration screen will be displayed here. Fromthis screen, you cannot enter/specify the amount to taxonomy elements. However this can besued as a second check to see that all taxonomy elements carry amount, if not configure thesame in Profit and Loss Adjustments & Appropriations screen.

If any of the MandatoryInformation is not applicable or doesn't have value, then Zero to be filledfor the mandatory information without value. To fill Zero, press Alt+Z keys or click on Z: Set Zerobutton. On performing the operation, Zeros will be filled to the mandatory informations withoutValue.

Figure 2.33 Profit & Loss Account


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2.6.5 Show Unmapped List of Accounts

This report displays the Groups/Sub-Groups/ledgers which are not mapped.

Click on S: Show Unmapped or press Alt+S keys to view the unmapped Group/Sub-groups/Ledgers. Press Alt+F1 to view the unmapped List of Accounts.

Figure 2.34 Display of Unmapped List of Accounts


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Lesson 3: Configure Additional Details

On broad sense, AdditionalDetails contains operational and general information with respect toFinancial and Non-financial dealing, along with Auditor and Director Reports details.

To Provide the Additional Details,

Go to Gateway of Tally > Display > Statutory Reports > MCA Reports > Additional Details

Figure 3.1 Additional Details Screen

The Additional Details are categorized into 38 different heads.

Applicable Report: Gives the information about the report to which the additional informa-tions are applicable. By default few of the additional details are identified with the reportand for the un-identified additional details specify the applicable report.

Status: Displays the information disclosure completion status for each Additional Details asentered using the F9: Status button.


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3.1 General Information

Under General Information, specify companys general information such as Name, Address,

Corporate Identity Number, Permanent Account Number (PAN), Type of Industry, nature of Report Standalone/Consolidated, presentation Currency (Currency in which the financial reports arepresented), Level of Rounding, Type of Balance Sheet, Profit & Loss Statement and Cash FlowStatement and other related information.

Name of Company: The Mailing Name entered in the Company Creation screen is cap-tured in Name of Company field.

Corporate Identity Number: Enter the Corporate Identity Number issued by the Ministryof Corporate Affairs.

Tally.ERP 9 checks the Number of digits entered in this field. If the number entered in less than 21digits it displays the error - CIN should be Equal to 21characterand will not allow the user toproceed till the number entered is corrected to 21digits.

Figure 3.2 Error for Wrong CIN

Corporate Identity Number is a 21- digit number assigned to every company

incorporated on or after November 1, 2000. The Corporate Identity Number allotted

to a company indicates listing status, economic activity (industry), state, year of

incorporation, ownership and sequential number assigned by Registrar OfCompanies (Registration Number).

1st DigitListing Status (if Listed starts with L and if Unlisted starts with U)

Next5 Digits Economic Activity (Industry Code)

Next2 Digits State (KA- Karnataka)

Next4 Digits Year of Incorporation (2001)

Next3 Digits Ownership (PLCfor Public Limited Company & PTCfor Private

Limited Company)

Last6 Digits Sequential Number assigned by ROC (Registration Number -

090635).

If this field is empty, Tally.ERP 9 will not allow to proceed to define other details

such as Type of Industry, Reporting method and save the General Information.


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Permanent Account Number (PAN) of the Entity: The PAN/Income -Tax number enteredin F3: Statutory & Taxation features screen will be captured here.

Address of registered office of Company: The Address entered in Company Creationscreen will be captured here.

Website: Enter the Company's Website address in this field.

Type of Industry: In this filed, select the appropriate Industry Type.

Figure 3.3 Type of Industry List

UnderDisclosure of Document Information, enter the details ofDate of Board meetingwhen final accounts were approved, Reporting period Starting & EndingDate.

Nature of report - Standalone/Consolidated: Depending on reporting method followedby the company select Standalone or Consolidated in this field.

Figure 3.4 Nature of Report

Contents of Report: In this field mention the brief content of the Report.

Description of Presentation Currency: In this field, company can select the appropriateCurrency in which the financial statements are presented from the List of Currencies.

Level of Rounding used in financial statements: Company can select the applicablelevel of rounding Actual, Billions, Crores, Lakhs, Millions and Thousands fromRounding of Currency list.

The Type of Industry List displays the industry Types Bank, Commercial &

Industrial, Insurance, NBFCandPowerfor selection.

The MandatoryInformation to be disclosed will vary depending on the Nature of

Report(Standalone/Consolidated) followed.

For example, company is followingconsolidated system of reporting. Then it has

to disclose the details of subsidiaries, associates etc.


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3.2 Details of Inventories

In Details of Inventories, specify the information of Opening, Closing, Purchases of Raw Materi-

als, Packing Materials, Stores Spares, Other Materials consumed during Current Year andPrevious Year. Here, you can also disclose the details of Cost of Traded Goods, Increase/Decrease in Finished Goods, Work-in Progress, other inventories, Excise Duty inventories etcand consumption of Raw materials, packing Materials, Store Spares etc.

In this screen you can disclose the changes in Inventory in Profit & Loss Account and BalanceSheet separately.

Figure 3.6 Details of Inventories Disclosure Screen

If the Company was operatingin the PreviousYear, then it is mandatory to provide

Previous Year's Inventorydetails.


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3.3 Details of Turnover

In Details of Turnoverscreen, disclose the details of Revenue from services, Contract and

Sale of Goods (Domestic & Exports).

Figure 3.7 Details of Turnover Disclosure Screen

3.4 Accounting Policies and Basis of Presentation

As per Accounting Standard (AS) 1, all significant policies adopted in the preparation and presen-tation of financial statements should be disclosed at one place and should form part of thefinancial statements.

Its usual to furnish a summary of the accounting policies in respect of the following areas:

Accounting Convention

Basis of Accounting

Fixed Assets

Depreciation

Revaluation of Assets

Investments

Inventories

Revenue Recognition

Investment Income

Borrowing Cost

Proposed Dividend

Retirement Benefits

Lease Rentals (Lease Income)

Research and Development Costs

Taxes on income

Foreign currency translation Claims

Segment Reporting

Financial and Management Information Systems

Intangible assets


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In Accounting Policies and Basis of Presentation, you can enter the details of policies adoptedin the preparation and presentation of financial statements of your company.

1. Company can disclose the both Accounting Policies and Basis of Presentation details, bysetting the field Provide complete details in a text block toYes

Users can disclose the details in Text block (Typing/ Copy & Paste) or attach the Word fileby specifying the word file path.

To Copy and Paste orType the information click on T: Write Text button or pressAlt+T keys

Figure 3.8 Selection of Write Text Option

On selecting WriteText option by clicking on T: Write Text button or pressing Alt+T todisplay information in plain text in report Tally.ERP 9 will prompt you for confirma-tion.


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Figure 3.9 Prompt to Remove HTML Display

On selectingYes, the HTMLdisplay gets changed to TextBlock where you can enterthe information.

Figure 3.10 Text Block Enabled Disclosure Screen


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On Copy and Paste orTyping the information in the Text Block, the disclosure screenis displayed as shown:

Figure 3.11 Disclosure of Accounting Policies and Basis of Presentation Screen

On attaching the Wordfile by specifying the word file path the disclosure screen is dis-played as shown:

Figure 3.12 Disclosure Screen on Attaching the Word File


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OR

2. Disclose Basis of Presentation and Accounting Polices separately by setting the optionProvide complete details in a text block (given above the respective taxonomy elements) toYes.

OR

3. If the Company is not interested in disclosing Accounting Policies and Basis of Presentationdetails in the text block, then the information can be entered in appropriate taxonomy elements.

The completed Accounting Policies and Basis of Presentation screen appears as shown:

Figure 3.13 Completed Accounting Policies and Basis of Presentation Disclosure Screen

In Word Doc File Path field, mention thepath, wordfilename with the file exten-

sion.

If information is not disclosed in the text block, then it is mandatory to enter details

forall the taxonomy elements.


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3.5 Changes in Accounting Policies and Estimates

In Changes in Accounting Policies and Estimates configuration, enter the details of changes in

Accounting Policies and Estimates during the Financial Year along with the reason and impact ofchanges.

1. Company can disclose Changes in Accounting Polices and Estimates details, by setting thefield Provide complete details in a text block toYes

Users can disclose the details in Textblock (Typing/ Copy & Paste) or attach the Wordfile

by specifying the word file path.

OR

2. If the Company is not interested in disclosing Changes in Accounting Policies andEstimates details in text block, then the information can be entered in appropriate taxonomyelements.

The completed Changes in Accounting Policies and Estimates screen appears as shown:

Figure 3.14 Completed Changes in Accounting Policies and Estimates Disclosure Screen

If information is not disclosed in the text block, then it is mandatory to enter details for all thetaxonomy elements.

Click on T: Write Textbutton or press Alt+Tkeys to get the TextBlock to Write

Text.


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3.6 Events occurring after Balance Sheet Date

Accounting Standards (AS) 4, deals with the disclosure of contingencies and the events occurring

after the balance sheet Date. In Events after Balance Sheet Date, enter the details of contingen-cies/events occurred after the Balance sheet date along with the details of estimated amount ofeffect and the statement of inability to estimate the effect.

Figure 3.15 Events occurring after Balance Sheet Date Disclosure Screen

1. Company can disclose Events after Balance Sheet Date details, by setting the field Providecomplete details in a text block toYes.

Users can disclose the details in Text block (Type/ Copy & Paste) or attach the Word fileby specifying the word file path.

OR

2. If the Company is not interested in disclosing Events after Balance Sheet Date Details in textblock, then the information can be entered in appropriate taxonomy elements.


Text.




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3.8 Government Grants and Subsidies

Accounting Standard (AS) 12, deals with the accounting of Government Grants (subsidies, Cash

incentives, Duty Drawbacks etc.). If a government grant is received, preparation of financial state-ments becomes significant for an enterprise, as it is necessary to give an indication of the extentof development from such grant during the reporting period.

In Government Grants and Subsidies screen mention the details of methods of presentation offinancial statement, Nature of Grants, non-monetary assets given at concessional rate and Freeof Cost and Contingencies related to Grants.

Figure 3.17 Government Grants and Subsidies Disclosure Screen

1. Company can disclose Government Grants and Subsidies details, by setting the field

Provide complete details in a text block toYes

Users can disclose the details in Textblock (Typing/ Copy & Paste) or attach the Word fileby specifying the word file path.

OR

2. If the Company is not interested in disclosing Government Grants and Subsidies details inthe text block, then the information can be entered in appropriate taxonomy elements.


Text.

If information is not disclosed in the text block, then it is mandatory to enter detailsforall the taxonomy elements.


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3.9 Amalgamation

Accounting standard (AS) 14, deals with accounting for amalgamations and the treatment of

resultant goodwill and reserves. As per this Accounting Standard, companies have to disclose thedetails of amalgamations if any, during the reporting period.

In Amalgamation screen, enter the details such as Name, Country of Incorporation, CIN Numberof amalgamating Co., effective date of amalgamation, method of accounting, accountingTreatment given to Reserves, number of shares issued in scheme of amalgamation etc.

In this screen, you can disclose amalgamation details of more than one Amalgamating company.Once you enter the First amalgamating company name the provision to enterSecond amalga-mating company details will be displayed.

Figure 3.18 Amalgamation Related Disclosure Screen

1. Company can disclose Amalgamation details, by setting the field Provide complete detailsin a text block toYes.

Users can disclose the details in Textblock (Typing/ Copy & Paste) or attach the Word file

by specifying the word file path. OR2. If the Company is not interested in disclosing Amalgamation details in the text block, then theinformation can be entered in appropriate taxonomy elements.


Text.




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3.10 Employee Benefits

As per accounting standards (AS) 15, companies are required to disclose the details of employee

benefits and the accounting policies followed to account the employee benefits during thereporting Year.

In EmployeeBenefits information, enter the details of present value of benefit plan obligation,present value, changes in present value, estimate of employer for contributions expected for theplan, amalgamations defined benefit plans etc.

1. Company can disclose Employee Benefits details, by setting the field Provide completedetails in a text block toYes.

Users can disclose the details in Textblock (Typing/ Copy & Paste) or attach the Word fileby specifying the word file path. OR

2. If the Company is not interested in disclosing EmployeeBenefits details in the text block, thenthe information can be entered in appropriate taxonomy elements.

The completed Employee Benefits screen appears as shown:

Figure 3.19 Employee Benefits Disclosure Screen


Text.




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3.11 Segment Reporting

Many enterprises provide groups of products or services or operating in different geographical

areas with the different levels of profitability, opportunity for growth and risks. The informationabout different geographical areas is called - Segment Information. An organization cannotassess the risks and returns of multi-locations from the aggregated data. Under AccountingStandard (AS) 17, Entity's operating in multi-locations have to disclose the details of segmentname (Primary & Secondary), revenue, accounting policies, changes in accounting policies,expenses etc.

In SegmentReporting screen, enter the details of entity's reportable segments, factors used toidentify segments, nature of differences between measurements of profit or Loss, assets and Lia-bilities of reportable segments and entity's.

Figure 3.20 Segment Reporting Screen

1. Company can disclose Segment Information details, by setting the field Provide completedetails in a text block toYes


OR

2. If the Company is not interested in disclosing SegmentInformation details in the text block,then the information can be entered in appropriate taxonomy elements.


Text.




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The completed Related Parties screen appears as shown:

Figure 3.23 Related parties Disclosure Screen

3.12.1 Related Party Transactions

In Related Party Transactions enter the details such as Name of Related Party, Country ofIncorporation, PAN, CIN of Related party, Nature of related party relationship along with Amount,Provisions for doubtful debts, guarantee given or received of outstanding balances for relatedparty transactions.

While disclosing Related Party Transaction details in taxonomy elements, in Name of RelatedParty field, Tally.ERP 9 will display the Sundry Debtors ledgers which are configured forRelated

Parties. On selection of Related Party ledger, the respective details will be automatically field inthe appropriate fields.

Figure 3.24 Related Party Transactions Disclosure Screen


Text.




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To configure the ledgers as Related Parties, in Ledger Creation/Alteration screen

press F12key or click on F12: Configure and set the option Use Other Informa-tion for Ledger Accounts to Yes.

In Ledger Creation/Alteration screen, under Other Information section set the

option Is Related Partyto Yes.

In Related Party Details specify the Nature of Relationship, Country of Resi-dence, Identification No. andIssuingAuthoritydetails.

2. In Related Party Transactions screen, the fields marked with *are mandatory

fields and needs to filled compulsorily to generate valid instance document.


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3.13 Leases

Accounting Standard (AS) 19 prescribes the appropriate accounting policies and disclosures in

relation to finance and operating leases for lessees and lessors. As per this Accounting Standardsreporting entity has to disclose the details of leases if any during the reporting period.

In Leases information, enter the details of Financial Leases and Operation Leases for Lessor andLessee as applicable.

1. Company can disclose Leases details, by setting the field Provide complete details in a textblock toYes


2. If the company is not interested in disclosing Leases details in the text block, then the informa-tion can be entered in appropriate taxonomy elements.

The completed Leases screen appears as shown:

Figure 3.25 Leases Disclosure Screen


Text.




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3.14 Earnings per Share

Accounting Standard (AS) 20 prescribes the principles for the determination and disclosure of

Earnings Per share. As per the AS requirement reporting companies have to disclose the basicand diluted earnings per share with other related information like the number of shares used forcalculation of Basic earnings per share, nominal value of shares etc.

In Earning Per Share information enter the details of Net Profit attributable to equity shareholdersbasic/ diluted, Number of shares used for basic/dilutive earnings per share.

1. Company can disclose Earning Per Share details, by setting the field Provide completedetails in a text block toYes


2. If the company is not interested in disclosing Earning Per Share details in the text block, thenthe information can be entered in appropriate taxonomy elements.

The completed Earnings per Share screen appears as shown:

Figure 3.26 Earnings Per Share Disclosure Screen


Text.




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3.15 Subsidiary Information

In case the reporting company has any subsidiaries, such subsidiary companies details like

Name, Country of incorporation, CIN, Section under which the company became subsidiary,whether the company has filed the Balance Sheet, if No reason for not filing, SRN of filing Balancesheet, Assets, liabilities, Reporting Currency, the financial Year followed, exchange Rate as appli-cable, Share Capital, Reserves & Surplus etc. of subsidiary can be entered underSubsidiaryInformation.

1. Company can disclose Subsidiary Information details, by setting the field Provide completedetails in a text block toYes


2. If the company is not interested in disclosing Subsidiary Information details in the text block,then the information can be entered in appropriate taxonomy elements.

To fill the details under Details of Subsidiaries, set the option Whether the company has subsidi-ary companies to Yes. If this option is No, the cursor will not move to any of the field in this screen.

Figure 3.27 Subsidiary Information Disclosure Screen


Text.




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Guarantee by Company

If the reporting company has given the guarantee for the loans borrowed by the Subsidiary, in

Subsidiary Information, enable the optionGuarantee given for loans borrowed by subsidiary

toYes to view Guarantee by Company screen.

In Guarantee by Company information, details of guarantee given by the Company for the loansborrowed by subsidiary. Here, the informations likes the name of subsidiaries (who haveborrowed the loan), Name of Guaranteed Party, CIN of Guaranteed Party and the Amount Guar-anteed on Loan Borrowed by subsidiary can be disclosed.

Figure 3.28 Guarantee By Company Disclosure Screen

Guarantee by Subsidiary

If the subsidiary of a company has given the guarantee for the loans borrowed by the Company, inSubsidiary Information, enable the option Guarantee by subsidiary for loans borrowed bycompany toYes to view Guarantee by Subsidiary screen.

In Guarantee by Subsidiary information, details of guarantee given by the Subsidiary for theloans borrowed by company. Here, the informations likes the name of company (who haveborrowed the loan), Name of Guaranteed Party, CIN of Guaranteed Party and the Amount Guar-anteed on Loan Borrowed by company will be captured.

Figure 3.29 Guarantee By Subsidiary Disclosure Screen


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3.16 Deferred Tax Assets and Liabilities

Under Accounting Standard (AS) 22, every enterprise has to disclose the details of deferred tax

assets and liabilities. In Deferred Tax Assets and Liabilities information, enter the details ofdeferred asset/liability along with net non-current/current deferred tax asset/ liability, identificationof deferred asset/Liability, adjustments of deferred tax assets/liabilities, deferred assets/liabilitynot recognized and the supporting for recognition of deferred tax assets, unabsorbed depreciationand carry forward losses.

1. Company can disclose Deferred Tax Assets and Liabilities details, by setting the fieldProvide complete details in a text block toYes


2. If the company is not interested in disclosing Deferred Tax Assets and Liabilities details inthe text block, then the information can be entered in appropriate taxonomy elements.

The completed Deferred Tax Assets and Liabilities screen appears as shown:

Figure 3.30 Deferred Tax Assets and Liabilities Disclosure Screen


Text.




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3.17 Investment in Associates

Accounting Standard (AS) 23 prescribes the principles and procedures for accounting the invest-

ments in associates and disclosure of effects of the investments in associates on the financialposition and operating results of a group.

In Investment in Associates screen, information of associates in which the reporting companyhas invested has to be disclosed. In this screen enter the amount invested in associations alongwith the details of associations like Name, Country of Incorporation, CIN, Description of the asso-ciates, Proportion of Ownership Interest, voting power in Associates, difference in accountingpolicy followed, Reporting Date etc.

Figure 3.31 Investment in Associates Disclosure Screen

In this screen, you can disclose the investment details of more than one associate company.Once you enter the First associate company name the provision to enter second associatecompany details will be displayed.

1. Company can disclose Investment in Associates details, by setting the field Providecomplete details in a text block toYes


by specifying the word file path. OR

2. If the company is not interested in disclosing Investment in Associates details in the

text block, then the information can be entered in appropriate taxonomy elements.


Text.

If information is not disclosed in the text block then, it is mandatoryto enter details

in taxonomyelements indicated with *.


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3.18 Investment in Joint Venture

As per Accounting Standard (AS) 27 reporting Companies have to disclose the details of Interest

in Joint Ventures.In Investment in Joint Ventures screen, information of Joint Ventures in which the reportingcompany has invested has to be disclosed. In this screen enter the amount invested in JointVentures along with the details of Joint Ventures like Name, Country of Incorporation, CIN of JointVenture, Percentage of Ownership Interest, Share Capital commitments of Joint Ventures etc.

In this screen, you can disclose the investment details of more than one Joint Venture. Once youenter the First Joint Venture name the provision to enter second Joint Venture details will be dis-played.

Figure 3.32 Investment in Joint Ventures Disclosure Screen

1. Company can disclose Investment in Joint Ventures details, by setting the field Providecomplete details in a text block toYes


by specifying the word file path. OR

2. If the company is not interested in disclosing Investment in Joint Ventures details in the textblock, then the information can be entered in appropriate taxonomy elements.


Text.

If information is not disclosed in the text block then, it is mandatoryto enter details

in taxonomyelements indicated with *.


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3.19 Discontinuing Operations

Under Accounting standard (AS) 24 Reporting companies are required to disclose the details of

discontinuing operation during the reporting period.In DiscontinuingOperations screen, enter the details such as the Description of discontinuingOperation, Segment of discontinuing operation, Date of initial disclosure of discontinuance ofoperation, date of expected Completion discontinuance operation, Reasons for withdrawal of planof previously reported discontinuing operations, Summary of discontinued operations etc.

1. Company can disclose Discontinuing Operations details, by setting the field Providecomplete details in a text block toYes


2. If the company is not interested in disclosing DiscontinuingOperations details in the text

block, then the information can be entered in appropriate taxonomy elements.

The completed Discontinuing Operations screen appears as shown:

Figure 3.33 Discontinuing Operations Disclosure Screen


Text.




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3.20 Intangible Assets

Accounting Standard (AS) 26 prescribes the accounting treatment, specifies how to measure the

carrying amount and disclosure of intangible assets.As per AS 26, Reporting Companies have to disclose the details of the intangible assets if anyduring the reporting period. In Intangible Assets information, specify the details such as Descrip-tion of intangible assets, carrying amount, Description of intangible assets pledged as security forliabilities, Amount of commitment for acquisition of intangible assets, useful life of internallygenerated or other intangible assets etc.

1. Company can disclose Intangible Assets details, by setting the field Provide completedetails in a text block toYes


OR

2. If the company is not interested in disclosing IntangibleAssets details in the text block, thenthe information can be entered in appropriate taxonomy elements.

The completed Intangible Assets screen appears as shown:

Figure 3.34 Intangible Assets Disclosure Screen


Text.




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3.21 Impairment of Assets

An asset is impaired when the carrying amount of the asset exceeds its recoverable amount. If

the recoverable amount of an asset is less than its carrying amount, the carrying amount of theasset should be reduced to its recoverable amount. That reduction is an impairmentloss. UnderAccounting Standard (AS) 28, reporting company has to disclose the impairment losses recog-nized/reversed during the period.

In Impairment of Assets screen, enter the details of impairment Losses recognized in P& L A/C,Events leading to recognition of impairment losses, Reversal of impairment loss recognized,Description of asset impaired, Details of cash generating units with impaired assets, Class ofassets impaired, Basis used to determine impairment loss and the net selling price of the impairedassets, etc.

1. Company can disclose Impairment of Assets details, by setting the field Provide completedetails in a text block toYes


2. If the company is not interested in disclosing Impairment of Assets details in the text block,then the information can be entered in appropriate taxonomy elements.

Figure 3.35 Impairment of

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