The ernment today asked st acuntants to work on developing public-friendly acunting practices.

Inaugurating the 53rd National st nvention of st and Management Acuntants (CMA) here, Minister of State for rporate Affairs R P N Singh also called upon the st acuntants to work with utmost integrity and observe transparency in acunt dealings.

He requested them to file the balance sheet and profit and loss statement in the eXtensive Business Reporting Language (XBRL) format only.

The key benefits of XBRL being transparent filing of financial statements, quick analysis of financial data, improved monitoring by regulators, easier detection of errors and innsistencies, significant st rction in data llection among others .

Over 1,000 delegates, including eminent national and international experts are attending the three-day nvention.