How to Decide Between Full XBRL and Simplified XBRL Filing

For many Singapore SMEs, XBRL filing becomes confusing not because of the format — but because of the different filing types available.

One of the most common questions is:

How do we decide between Full XBRL and Simplified XBRL filing?

The answer depends on your company’s size, reporting obligations, and eligibility under ACRA’s requirements.

Let’s break it down clearly.

1️⃣ Understand the Core Difference

✅ Full XBRL

Full XBRL requires:

• Complete set of financial statements
• Detailed tagging of financial data
• Comprehensive disclosures
• Full compliance with ACRA’s taxonomy

This format is typically required for:

• Public companies
• Companies limited by guarantee
• Financial institutions
• Companies with more complex reporting obligations

Full XBRL involves more detailed mapping and disclosure tagging.

✅ Simplified XBRL

Simplified XBRL is designed for smaller private companies.

It requires:

• Core financial statements (Balance Sheet, P&L)
• Selected key disclosures
• Reduced tagging scope compared to Full XBRL

Most Singapore-incorporated private companies that are required to file financial statements fall under Simplified XBRL.

It reduces reporting complexity while maintaining structured data submission.

2️⃣ Check Your Company Type First

Before deciding, confirm:

• Is your company a private company limited by shares?
• Are you audit-exempt as a “small company”?
• Are you a public company or financial institution?

If you are a typical SME private limited company, Simplified XBRL is often applicable.

If your company structure is more complex, Full XBRL may be mandatory.

3️⃣ Consider Business Complexity

Even if eligible for Simplified XBRL, you should evaluate:

• Do you have subsidiaries?
• Are you preparing consolidated financial statements?
• Are you involved in regulated industries?
• Do you require more comprehensive disclosures for investors or lenders?

Complex structures may push you toward Full XBRL requirements.

4️⃣ Accuracy Matters More Than Format Choice

Whether Full or Simplified XBRL applies, the underlying requirements remain:

• Financial statements must be accurate
• Figures must reconcile properly
• Disclosures must be complete
• Directors remain legally responsible

Choosing Simplified XBRL does not reduce governance accountability.

5️⃣ The Real Decision Point: Are Your Books Structured?

Many SMEs struggle not because of Full vs Simplified XBRL — but because their financial data is inconsistent.

Smooth filing depends on:

✔ Monthly bank reconciliation
✔ Standardized expense categorization
✔ Clear Chart of Accounts
✔ Organized documentation
✔ Early financial statement preparation

AI-powered platforms like ccMonet help SMEs maintain structured financial data year-round by:

• Automating bookkeeping
• Performing AI-driven reconciliation
• Supporting multi-currency transactions
• Standardizing categorization
• Combining automation with expert review

When your financial foundation is strong, both Full and Simplified XBRL become manageable.

Final Takeaway

To decide between Full XBRL and Simplified XBRL:

1️⃣ Confirm your company type and regulatory classification.
2️⃣ Assess structural complexity.
3️⃣ Ensure your financial statements are complete and accurate.

Most Singapore SMEs qualify for Simplified XBRL — but eligibility depends on your specific situation.

The format matters — but financial discipline matters more.

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