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ACRA XBRL Filing - Frequently Asked Questions(FAQ)

All About XBRL Filing with ACRA

Learn all about conversion and filing financial statements in XBRL format with ACRA.
Your questions on What, Why, When, Who, Where and How of ACRA XBRL filing answered.

All About XBRL filing with ACRA: Article Series 1

What is XBRL

XBRL, abbreviation for eXtensible Business Reporting Language, is an XML-based language for tagging financial data that enables business to efficiently process and share their data. XBRL allows the presentation of financial information in a computer readable format. This is achieved by tagging each piece of financial information with a label that identifies it in terms of standard accounting or tax concepts.


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All About XBRL filing with ACRA: Article Series 2

Why you should file financial statements in XBRL with ACRA

The Accounting and Corporate Regulatory Authority (“ACRA”), the national regulator of business entities and public accountants in Singapore introduced XBRL in 2007 for corporate financial reporting. Thereafter, after extensive consultation with all stake holders, implemented the revised XBRL filing in October 2013 to improve the quality of financial statements, enable greater transparency and comparability of financial information being released.


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All About XBRL filing with ACRA: Article Series 3

Who should submit financial statements in XBRL

ACRA mandates all Singapore incorporated companies to file their financial statements in XBRL format except those companies that are specifically exempted.Depending on the classification of business entities, the mandated business entity may have to submit,

  • Full set of financial statements in XBRL format (or)
  • Only Financial Statements Highlights (FSH) in XBRL format, plus PDF copy of the financial statements.

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All About XBRL filing with ACRA: Article Series 4

What are the XBRL filing requirements

The financial statements should include statement of financial position (balance sheet), statement of profit or loss and other comprehensive income, statement of changes in equity, statement of cash flows and Notes comprising of a summary of accounting policies and other explanatory information.

As a concession to ease the introduction of XBRL, ACRA has allowed that companies submitting their financial statements in XBRL can tag the elements from a “minimum tagging requirement list’ within the ACRA taxonomy. Companies may choose to submit more information in XBRL format than minimum requirement list.


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All About XBRL filing with ACRA: Article Series 5

By when should you file financial statements in XBRL

Every business entity that is required to file their annual returns must prepare their financial statements in XBRL format after the end of its financial year.

From 31 August 2018, the timelines for holding Annual General Meetings and the filing of annual returns have been aligned with the financial year ends of companies.


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All About XBRL filing with ACRA: Article Series 6

How to prepare financial statements in XBRL

Companies have multiple options to consider when it comes to preparing their XBRL reports. The best option will depend on the resources available in house.

  • If you have in-house expertise then you can download and install ACRA’s free BizFinx preparation tool which allows tagging of data against the taxonomy.
  • If you prefer an XBRL expert’s help then you could consider outsourcing to XBRL service providers like FinTags. We receive financial statements in Word/PDF format and deliver accurately tagged XBRL files.

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Disclaimer : For your benefit we have collated relevant information related to XBRL filing with ACRA. Although we try our best to ensure the accuracy of the information on this website, you rely on it at your own risk. The information is provided as a guide only and is not professional advice including legal advice. You should obtain specific professional advice before taking action.

Pricing for XBRL Services

The following pricing model is 3 days turnaround time and for less than 5 files.Please contact us for volume discounts

XBRL Conversion

of financial statements


S$30

for financial statements highlights and partial XBRL

XBRL Conversion

of financial statements


S$130

for full set of financial statements (standalone)

XBRL Conversion

of financial statements


S$230

for full set of financial statements (consolidated)

Simple Transparent Pricing

Our pricing model is simple and published transparently. There are no hidden charges.

One Price. Any format

We charge same price, for statements received in Excel or PDF. No premium on pdf files, as our competitors charge.

Price Discount Programs

More business? Repeat business? Referrals? We express our thanks with price discounts.

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