{"id":3341,"date":"2019-07-05T10:05:02","date_gmt":"2019-07-05T10:05:02","guid":{"rendered":"https:\/\/prathamconsult.com\/bak-main\/?p=3341"},"modified":"2022-07-20T13:44:55","modified_gmt":"2022-07-20T13:44:55","slug":"tips-to-improve-your-xbrl-reporting-process","status":"publish","type":"post","link":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/","title":{"rendered":"Tips to Improve Your XBRL Reporting Process"},"content":{"rendered":"

XBRL<\/strong> is a language for electronic communication of business data. Each item is tagged with information about various attributes. No matter how experienced a team is, consider returning to some fundamental principles for improving the XBRL reporting process.<\/p>\n

Here are some tips on how to improve management reporting processes:<\/p>\n

1. Collect and normalize your data<\/strong><\/p>\n

– Start early. Waiting until the document is complete may be too late.
\n– Create flexible templates that enable contributors to submit structured and unstructured data in a consistent fashion so that you do not have to worry about rescheduling or reformatting.<\/p>\n

2. Build an integrated reporting infrastructure<\/strong><\/p>\n

– Build and maintain a proper database into standard format that can be managed through tagging or filters and applied across your organisation at all levels.
\n– Limit the access to use or alter specific document or information to certain person to help maintain the data integrity.<\/p>\n

3. Work from a single source of data<\/strong><\/p>\n

– Store every data element in one place
\n– Establish links between source data and all related places, so that when a figure changes, that change can propagate throughout all the required places.
\n– Make sure everyone pulls data from the one source to eliminate errors and inconsistencies.<\/p>\n

4. Time Management<\/strong><\/p>\n

– Estimate the time commitment and procedures involved to produce an XBRL filing.
\n– Know the key phases in the filing cycle and how to budget time for each phase.
\n– Set a timetable in advance and stick to it to avoid last minute hassle.<\/p>\n

5. Training and Guidance<\/strong><\/p>\n

– Obtain proper XBRL training prior to tagging.
\n– Know the structure of your organisation in which it regulates.
\n– The more effort and time you put into your XBRL training, better the outcome.<\/p>\n

6. Colleagues<\/strong><\/p>\n

– Reach out to your peers.
\n– Connect with your colleagues in a similar industry or region with the complimentary Taxonomy Analyzer.<\/p>\n

7. Improve the value of reporting<\/strong><\/p>\n

– Get in a successful test filing one week before your official submission. This will help you avoid last-minute surprises.<\/p>\n

8. Attend webinars or programmes conducting relating to XBRL filing  <\/strong><\/p>\n

– Attend ongoing educational webinars or programmes relating to recent amendments into the Act and framework to make yourself updated of the present scenario.<\/p>\n

9. Experience<\/strong><\/p>\n

– Build up your XBRL experience in steps. Begin with a small portion of the document, such as a note or two.<\/p>\n

10. Update your skills<\/strong><\/p>\n

– Stay on top of changes.
\n– Pay close attention to common items that require maintenance as you carry forward the XBRL from one quarter to the next. Don\u2019t forget about taxonomy migration issues.<\/p>\n

11. Professional guidance<\/strong><\/p>\n

– Leverage professional knowledge. Refer to XBRL examples for model tagging on common disclosures.
\n– Supplement with hourly XBRL services as needed, and be sure to reserve time with your Professional Services Manager early.<\/p>\n","protected":false},"excerpt":{"rendered":"

XBRL is a language for electronic communication of business data. Each item is tagged with information about various attributes. No […]<\/p>\n","protected":false},"author":1,"featured_media":4346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,74],"tags":[244,287,296],"yoast_head":"\nTips to Improve XBRL Reporting | Conversion Services | Pratham Consultants<\/title>\n<meta name=\"description\" content=\"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips to Improve XBRL Reporting | Conversion Services | Pratham Consultants\" \/>\n<meta property=\"og:description\" content=\"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\" \/>\n<meta property=\"og:site_name\" content=\"BAK - Main\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-05T10:05:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-20T13:44:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/images.pexels.com\/photos\/1422408\/pexels-photo-1422408.jpeg?auto=compress&cs=tinysrgb&w=1260&h=750&dpr=1\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/images.pexels.com\/photos\/1422408\/pexels-photo-1422408.jpeg?auto=compress&cs=tinysrgb&w=1260&h=750&dpr=1\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/f49cab9c1e1f586ffefa97bdc4288dfd\"},\"headline\":\"Tips to Improve Your XBRL Reporting Process\",\"datePublished\":\"2019-07-05T10:05:02+00:00\",\"dateModified\":\"2022-07-20T13:44:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\"},\"wordCount\":474,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#organization\"},\"keywords\":[\"Professional Services\",\"XBRL\",\"XBRL filing\"],\"articleSection\":[\"Blog\",\"XBRL\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\",\"url\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\",\"name\":\"Tips to Improve XBRL Reporting | Conversion Services | Pratham Consultants\",\"isPartOf\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#website\"},\"datePublished\":\"2019-07-05T10:05:02+00:00\",\"dateModified\":\"2022-07-20T13:44:55+00:00\",\"description\":\"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.\",\"breadcrumb\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prathamconsult.com\/bak-main\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tips to Improve Your XBRL Reporting Process\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#website\",\"url\":\"https:\/\/prathamconsult.com\/bak-main\/\",\"name\":\"BAK - Main\",\"description\":\"XBRL Conversion and Filing Services\",\"publisher\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prathamconsult.com\/bak-main\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#organization\",\"name\":\"BAK - Main\",\"url\":\"https:\/\/prathamconsult.com\/bak-main\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prathamconsult.com\/bak-main\/wp-content\/uploads\/sites\/23\/2021\/11\/pratham-logo-png-120-80.png\",\"contentUrl\":\"https:\/\/prathamconsult.com\/bak-main\/wp-content\/uploads\/sites\/23\/2021\/11\/pratham-logo-png-120-80.png\",\"width\":120,\"height\":40,\"caption\":\"BAK - Main\"},\"image\":{\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/f49cab9c1e1f586ffefa97bdc4288dfd\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43edfc15d6f1451735876560c4df9b1f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43edfc15d6f1451735876560c4df9b1f?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"description\":\"Balajinagar\",\"sameAs\":[\"http:\/\/07276116725\"],\"url\":\"https:\/\/prathamconsult.com\/bak-main\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tips to Improve XBRL Reporting | Conversion Services | Pratham Consultants","description":"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/","og_locale":"en_US","og_type":"article","og_title":"Tips to Improve XBRL Reporting | Conversion Services | Pratham Consultants","og_description":"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.","og_url":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/","og_site_name":"BAK - Main","article_published_time":"2019-07-05T10:05:02+00:00","article_modified_time":"2022-07-20T13:44:55+00:00","og_image":[{"url":"https:\/\/images.pexels.com\/photos\/1422408\/pexels-photo-1422408.jpeg?auto=compress&cs=tinysrgb&w=1260&h=750&dpr=1"}],"author":"admin","twitter_card":"summary_large_image","twitter_image":"https:\/\/images.pexels.com\/photos\/1422408\/pexels-photo-1422408.jpeg?auto=compress&cs=tinysrgb&w=1260&h=750&dpr=1","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#article","isPartOf":{"@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/"},"author":{"name":"admin","@id":"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/f49cab9c1e1f586ffefa97bdc4288dfd"},"headline":"Tips to Improve Your XBRL Reporting Process","datePublished":"2019-07-05T10:05:02+00:00","dateModified":"2022-07-20T13:44:55+00:00","mainEntityOfPage":{"@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/"},"wordCount":474,"commentCount":0,"publisher":{"@id":"https:\/\/prathamconsult.com\/bak-main\/#organization"},"keywords":["Professional Services","XBRL","XBRL filing"],"articleSection":["Blog","XBRL"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/","url":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/","name":"Tips to Improve XBRL Reporting | Conversion Services | Pratham Consultants","isPartOf":{"@id":"https:\/\/prathamconsult.com\/bak-main\/#website"},"datePublished":"2019-07-05T10:05:02+00:00","dateModified":"2022-07-20T13:44:55+00:00","description":"Tips to Improve XBRL Reporting - Complete Solution to XBRL Conversion and Filing requirements - Simple and secure way to prepare and file the Statutory Reports with Authority.","breadcrumb":{"@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prathamconsult.com\/bak-main\/blog\/2019\/07\/05\/tips-to-improve-your-xbrl-reporting-process\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prathamconsult.com\/bak-main\/"},{"@type":"ListItem","position":2,"name":"Tips to Improve Your XBRL Reporting Process"}]},{"@type":"WebSite","@id":"https:\/\/prathamconsult.com\/bak-main\/#website","url":"https:\/\/prathamconsult.com\/bak-main\/","name":"BAK - Main","description":"XBRL Conversion and Filing Services","publisher":{"@id":"https:\/\/prathamconsult.com\/bak-main\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prathamconsult.com\/bak-main\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prathamconsult.com\/bak-main\/#organization","name":"BAK - Main","url":"https:\/\/prathamconsult.com\/bak-main\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/logo\/image\/","url":"https:\/\/prathamconsult.com\/bak-main\/wp-content\/uploads\/sites\/23\/2021\/11\/pratham-logo-png-120-80.png","contentUrl":"https:\/\/prathamconsult.com\/bak-main\/wp-content\/uploads\/sites\/23\/2021\/11\/pratham-logo-png-120-80.png","width":120,"height":40,"caption":"BAK - Main"},"image":{"@id":"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/f49cab9c1e1f586ffefa97bdc4288dfd","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prathamconsult.com\/bak-main\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/43edfc15d6f1451735876560c4df9b1f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/43edfc15d6f1451735876560c4df9b1f?s=96&d=mm&r=g","caption":"admin"},"description":"Balajinagar","sameAs":["http:\/\/07276116725"],"url":"https:\/\/prathamconsult.com\/bak-main\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/posts\/3341"}],"collection":[{"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/comments?post=3341"}],"version-history":[{"count":1,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/posts\/3341\/revisions"}],"predecessor-version":[{"id":4345,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/posts\/3341\/revisions\/4345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/media\/4346"}],"wp:attachment":[{"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/media?parent=3341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/categories?post=3341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prathamconsult.com\/bak-main\/wp-json\/wp\/v2\/tags?post=3341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}