Digital Financial Reporting

28msec used my fundamental accounting concept relations metadata to implement what I would call normalized comparisons of public company financial information based on those fundamental accounting concept relations.  Here is a taste: (there is more to come)

Normalized Information

• Classified balance sheet, entity comparison
• Classified balance sheet, period comparison (you can do cross period comparisons for any entity with these queries also)
• Classified balance sheet, fixed assets reported (alternative), entity comparison
• Unclassified balance sheet, entity comparison
• Income statement, reports gross profit and operating income (loss), entity comparison
• Income statement, reports revenues, operating expenses, and operating income (loss), entity comparison
• Income statement, reports revenues, costs and expenses, and operating income (loss), entity comparison
• Income statement, reports revenues, operating expenses, nonoperating expenese, entity comparison
• Income statement, interest based revenues
• Income statement, insurance based revenues
• Net income (loss) breakdown
• Statement of comprehensive income (loss)
• Cash flow statement
• Cash flow statement (alternative) excludeds exchange gains
• Net cash flow breakdown, continuing/discontinued
• Net cash flow breakdown, continuing/discontinued (alternative, excludes exchange gains)

To understand the difference between the as reported information and the normalized view, please see this resource where that is explained.

Additionally, they implemented an awesome as reported comparison query.  You can see that in action here.  (I arbitrarily picked Alaska Airlines as the company to provide examples for. You can do these queries for ANY public company, ANY disclosure.)

As Reported Information

• Cash, cash equivalents, and marketable securities
• Deferred tax assets and liabilities
• Components of income tax expense
• Funding status of defined benefit plan details
• Funding status of defined benefit plan details (more)
• Operating segment information (takes a minute, but worth the wait)
• Derivative instruments information (Yes, works with text blocks)
• Significant accounting policies
• Balance sheet (for EVERY QUARTER and FISCAL YEAR)
• Income statement (fiscal years)
• Income statement (fiscal years AND quarterly information)
• Comprehensive income
• Cash flow statement
• Document and entity information

These tools will be very, very helpful getting the quality XBRL-based public company financial reports where it needs to be to make this valuable resource as useful as possible. Also, while I am showing the human-readable version of the query, there is also a machine-readable version of the query (XML , JSON and CSV).  Here is an example of that:

• Income statement (machine readable XML)

Thank you to 28msec for implementing these queries; thank you to the SEC for having the foresight to move to structured reporting.

ADDED: Here is documentation that helps you understand how to create the as reported queries.

ADDED: See this working prototype that I created using these queries.

ADDED: This is the metadata that drives the queries.