Stock market major BSE on Wednesday said that all listed entities on its platform need to file their financial results in 'XBRL' mode, in addition to 'PDF' format.
XBRL is a data-rich language for transmitting information via the Internet. It was developed specifically to communicate information between businesses and other users of financial information, such as analysts, investors and regulators.
"It has been decided that with effect from April 01, 2017 onwards, all listed entities with BSE, would be required to make their filings in respect of financial results in XBRL mode within 24 hours of submission of results in PDF mode," the stock exchange major said in a statement.
"BSE became the first stock exchange in India to introduce and implement XBRL based reporting. BSE has provided a tool to all listed companies to convert their data (excel) files into XBRL files, free of cost."
According to bourse, listed companies are required to file their financial results in 'PDF' format through the newly launched CAFS system and follow this up with the XBRL filing within a maximum of 24 hours of submission of results through CAFS mode.
Earlier, BSE had asked all listed companies to file their disclosures regarding important listing regulations like shareholding pattern, corporate governance report and voting results using XBRL format.
--IANS
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