« Mind Boggling Diversity of SEC XBRL Financial Filings | Main | Digitizing Disclosures (Part 2) »

Calcbench Analysis Shows SEC XBRL Filing Errors

An analysis provided by Calcbench shows three types of common errors in SEC XBRL financial filings:

  • Sign switches (about 50% of filings), which is reporting the incorrect polarity of a number such as reporting a negative number which should have been positive
  • Scale errors (about 8% to 12% of filings), which is reporting 5 when the number 5000 should have been reported
  • DEI errors (about 3% of filings), such as incorrect infomation for the fiscal period, fiscal year, or document balance sheet date

For more information on errors, you can see my analysis of a basic set of minimum criteria here necessary to make safe, reliable, repeatable, predicatable use of SEC XBRL financial filings.  Details which explain each of those minimum criteria can be found here.

Posted on Friday, June 20, 2014 at 08:10AM by Registered CommenterCharlie | CommentsPost a Comment

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
All HTML will be escaped. Hyperlinks will be created for URLs automatically.