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Quarterly XBRL-based Public Company Financial Report Quality Measurement (June 2018)

The following is a summary of the quality measurements of XBRL-based US GAAP financial reports submitted to the SEC as of June 30, 2018.  The following Excel spreadsheets and other documents provide details related to these quality measurements:

  • Positive results from tests (i.e. proof): Set of Excel spreadsheets contained in a ZIP archive that lets you duplicate testing, proving that over
  • Negative results from tests (i.e. confirmed errors): Details of 100% of the confirmed errors. 974 errors contained with 639 filings.
  • Accounting errors discovered during validation process: This PDF provides details of rather obvious accounting errors that exist in the financial reports of public companies. This validation process leads to the detection of such errors.
  • Prototype validation tools: Some working prototype, proof-of-concept validation tools you can use.  Only provided for one reporting style. I added a "line of reasoning" text file that helps you review the validation results.
  • US GAAP Rules: Current publicly available version of the validation rules by reporting style for US GAAP. As of March 31, 2018.  Contact me if you want the most current version.
  • IFRS Rules: Current publicly available version of the validation rules by reporting style for IFRS.
  • Templates: A financial report can be broken down into fragments. The same techniques for validating the primary financial statements also applies to other disclosures, only the rules are different.

US GAAP fundamental accounting concept relations continuity cross check validation results for last 10-K or 10-Q filed by generator of the report as of June 30, 2018:

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US GAAP fundamental accounting concept relations continuity cross check by logical accounting relation tested (same filings as above):

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Comparison of the prior results as of March 31, 2018 and the current results as of June 30, 2018 by generator:

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NEW!!! IFRS Fundamental Accounting Concept Relations (Work in Progress) I am going to start testing IFRS filings also! These results are a work in progress but very accurate.  I have all the balance sheet and cash flow statement reporting styles working; but I only have a couple of the income statement reporting styles working.

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**********************PRIOR RESULTS**********************

Previous fundamental accounting concept relations consistency results reported: March 31, 2018; November 30, 2017; August 31, 2017; May 31, 2017March 31, 2017November 28, 2016August 31, 2016June 30, 2016March 31, 2016February 29, 2016January 31, 2016December 31, 3015November 30, 2015October 31, 2015September 30, 2015August 31, 2015July 31, 2015June 30, 2015May 29, 2015April 1, 2015November 29, 2014.

Information helpful to understanding errors, learn how to create quality XBRL-based digital financial reports.

Blueprint for Creating Zero-defect XBRL-based Digital Financial Reports, helps you understand how to test other aspects of a digital financial report.

Computer Empathy, the best way to get dialed into accounting, reporting, auditing, and analysis in a digital environment.

Posted on Friday, June 29, 2018 at 03:50PM by Registered CommenterCharlie | CommentsPost a Comment

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