XBRL and your Company
Did you know that your company may be required to submit your Annual Financial Statements (AFS) into XBRL format?
"The CIPC mandated the digital reporting system for all qualifying entities from 1 July 2018."
(Quote from the Company and Intellectual Propery Commission South Africa Website.)
What is XBRL?
XBRL is an acronym for eXtensible Business Reporting Language.
In essence it is a way to translate Annual Financial Statements into a machine-readable format. Each item on a Financial Statement is tagged in a standard way. That facilitates data transmission and easy comparison between businesses.
How can XBRL ZONE help you?
We will convert your statements into XBRL. After the conversion, we will submit it to the CIPC. Your company will be XBRL compliant. We will also provide you with the iXBRL version of your statements. The iXBRL version will also allow you to publish your statements on your website. You do not have to learn XBRL.