What is an Instance Document?
An XBRL instance document is an XML file, designed to be read only by computers, that contains business reporting information and represents a collection of financial facts using tags from one or more XBRL taxonomies. Examples of instance documents include a set of financial statement or an earnings release encoded in XBRL format.
Creating XBRL Instance Document
What is FS Manager?
FS Manager is a free online tool provided by ACRA as part of BizFile to enable companies to prepare and manage their financial statements in XBRL format.
Using FS Manager, companies’ financial statements can prepared via completing a series of web-based forms designed in accordance with ACRA taxonomy requirements. For ease of usage and flexibility, FS Manager incorporates the following features:
- Usage of system at no charge;
- Logins are not required;
- Web-based forms are designed to provide maximum user-friendliness;
- Financial statements can be stored offline in user’s system;
- Financial statements can be saved and converted into PDF format, to be printed out and used for purposes of the Annual General Meeting; and
- Integration with BizFile so that Annual Return filings and relevant payments can be performed via BizFile.
For companies that already have XBRL-enabled Enterprise Resource Planning (ERP) systems, they may be able to export their financial statements in accordance with ACRA taxonomy and submit to ACRA via FS Manager. The company should get further details from its vendor.
Accessing FS Manager
Screenshots of FS Manager
FS Manager can be used to prepare financial statements to be laid before the Annual General Meeting (AGM). A hardcopy of the financial statements prepared can be printed out and used for the AGM. By doing so, companies only need to prepare the financial statements once using FS Manager for AGM and subsequent filing with ACRA.
For companies not wishing to use FS Manager to prepare the financial statements for AGM, the preparers should draw up the financial statements in accordance with the ACRA taxonomy. This is to facilitate the subsequent filing of the financial statements in XBRL format using FS Manager. Screenshots of the relevant statements in FS Manager are available as a guide for companies.
Software Products Compatible with ACRA Taxonomy
Scope of ACRA's Assessment of Software Products Compatible with ACRA Taxonomy:
ACRA’s compatibility checks were based only on the instance document submitted by the vendor company and no assessment of the software product was carried out. ACRA did not verify that the instance document submitted by the vendor company was generated through the use of the software product.
ACRA’s assessment was limited to whether the instance document submitted by the vendor company conforms to ACRA’s taxonomy. ACRA did not verify the accuracy of the content populated in FS Manager upon uploading of the instance document.
The list of software products only indicates the vendor companies which have submitted instance documents for ACRA’s assessment. The list does not imply endorsement of any of the software products or the vendor companies by ACRA.
The links to vendor company websites are provided only as a convenience to you and in no way imply any affiliation, sponsorship, endorsement, or acceptance of any information or views provided on those linked websites.
||Product Name |
(Please click on the product name to view the compatibility checklist)
|BGL Corporate Solutions Pty Ltd
||- Corporate Affairs System (CAS)|
XBRL Conversion Tools
Companies can also prepare their financial statements in XBRL format using the services of a XBRL conversion tool.
No assessment of the XBRL conversion tools was carried out by ACRA. The list of XBRL conversion tools does not imply endorsement of any of the XBRL conversion tools or the companies by ACRA. The links to company websites are provided only as a convenience to you and in no way imply any affiliation, sponsorship, endorsement, or acceptance of any information or views provided on those linked websites.
||XBRL Conversion Tool|
||- BRX |
Findings from Review of Financial Statements Filed in XBRL Format
ACRA has completed an independent review of the companies’ financial statements submitted in XBRL (XBRL FS). Based on a limited review, and our experiences in dealing with the XBRL filings, we have identified findings for companies to take note in their future preparation of XBRL filings to improve the quality of the filings. Please click here to access the list of findings.
Companies which note errors in their past XBRL filings, including findings that are reflected, should file a Notice of Error (NOE) to rectify the errors if the errors are typographical or clerical in nature. Companies may face prosecution if the errors are found to be materially false or misleading.
Please let us have your feedback on how to improve FS Manager using the online feedback form.