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With more companies filing in full XBRL, analysis of business data can be more efficiently generated and made available to the business community. ACRA has developed the Corporate Compliance and Financial Profile CCFP , an electronic report that provides a holistic and quick overview of a company in terms of its compliance status, financial profile and basic profile information. You may tap on such XBRL enabled data to enhance your business decision making process.
XBRL filing requirements was first implemented in for corporate financial reporting. The main objectives are to enable a pro-enterprise financial reporting environment for businesses in Singapore and a value-enhancing information flow to the local and international business community.
To identify the needs of preparers and consumers of XBRL financial statements, needs requirements study was conducted, through the use of questionnaires and focus group discussions. A summary of the responses to feedback gathered from the public consultation was then published in November Learn more about the public consultation exercise.
ACRA held focus groups with accounting firms, companies, corporate secretarial firms and course trainers, for testing on the new proposed BizFin x preparation tool. Feedback was gathered from over 70 participants e. A public consultation was held to gather feedback on usability of the preparation tool. ACRA summarised all public feedback received on the preparation tool, and a response paper was published.
This will provide companies with sufficient time to familiarise themselves with the revised filing requirements. A Singapore Government Agency Website. For example, users can click on individual tagged data points in the filing to find more information about the data, such as citations and hyperlinks to the relevant accounting guidance, narrative definitions for the values, and reporting period information associated with each value.
You can access a transcript of the video here. There is a three-year phase-in for U. Create forms from any taxonomy position using drag and drop. Excel add-in Taxonomy-compliant Excel templates. Software updates including new taxonomy versions and project templates Stand-alone administration interface Role concept for distinguishing technical administrator, project manager, business user.
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