XBRL is Extensible Business Reporting Language, it offers cost savings, greater efficiency, and improved accuracy and reliability to all those involved in supplying or using financial data.
The rich and powerful structure of XBRL allows very efficient handling of business data by computer software. It supports all the standard tasks involved in compiling, storing and using business data.
The Accounting and Corporate Regulatory Authority of Singapore (ACRA) has adopted XBRL as part of its overall strategy to streamline financial reporting and to enable the flow of financial information to the international business community, thus promoting a pro-enterprise environment.
XBRL filing can be a time-consuming and daunting process for many companies.
GP can assist you with the preparation of financial statements in the XBRL format proficiently and cost-effectively.
Filing financial statements in XBRL
There are two options available in preparing financial statements in XBRL.
1. Option A _Full XBRL
2. Option B _Partial XBRL