Russian non-bank financial institutions, supervised by Central Bank, switched to accounting in XBRL format. It significantly improves and simplifies data management in business reports, but requires significant endeavors during the process of implementation itself. Since the beginning of 2018 on the instruction of the Central Bank of the Russian Federation NBFIs have been working in it, and, apparently, banks will have to work in a new format too. Tadviser and Nadezhda Kalashnikova, Neoflex Senior Consultant, try to understand how to implement XBRL in financial institution.
The full version of the article is available on the on the publication’s website.

Source: Tadviser

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