Digital Financial Reporting

XBRL-based structured digital financial reporting

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This web site provides information on how to use XBRL to help business professionals exchange business information. Business information incluldes both financial and nonfinancial information. Everything on this site made available to all under a Creative Commons License, Public Domain Dedication. Everything may be reused however one sees fit without attribution. We do ask that you give credit where credit is due. If you have any questions, comments, concerns, suggestions, ideas or other feedback, please contact charles.hoffman@me.com.

The author of this web site assumes all responsibility for this web site and it's content. The views expressed on this web site are the views of the author and may not represent the views of his employer.

BLOG: Digital Financial Reporting

This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.

Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.

Entries from December 16, 2012 - December 22, 2012

Results of Analysis of 8289 SEC XBRL Financial Filings for Core Financial Semantics

Periodically I take a look at SEC XBRL financial filings for a number of reasons. The results of my most current analysis of 8289 SEC XBRL financial filings for core financial semantics can be found here:

All the raw data is provided as a way to easily get to each SEC filing so you can determine for yourself if you agree or disagree with my personal assessment. You can look at the 271 issues for yourself, they are explained best in the narrative. This is a summary of what I see in terms of core financial report semantics for the 8298 SEC financial filings:

Only 3 financial filings did not provide a balance sheet
100% of those filings which did provide a balance sheet reported a fact which could conceivably be discovered to be "total assets"
100% of those filings which did provide a balance sheet reported a fact which could conceivably be discovered to be "total liabilities and equity"
Only 24 of those filing which did provide a balance sheet did not report a fact which could conceivably be discovered to be "total equity" (but each of those DID have equity, the just did not provide the total)
Only 6 financial filings did not provide an income statement
100% of those filings which provided an income statement provided something which could be conceivably be discovered to be "net income"
Only 67 financial filings did not provide a cash flow statement
Only 6 of those filings which provided a cash flow statement did not report a fact which could conceivably be discovered to be "net cash flow" (but each of those DID have net cash flow, they just did not provide the total)

The information related to the issues is stratified in a number of ways, see both the narrative and the Excel spreadsheet. One interesting perspective provided is by generator. This graphic shows the issues by generator as compared to the total number of filings submitted by that generator and a percentage of total issues as a percent of total submissions by generator:

The generators highlighted in yellow have an issues rate greater than 5%. A total of 16 generators had no issues, but then again they had a relatively small number of filings each. The total of 151 for all 16 represents 2% of total filings.

Posted on Monday, December 17, 2012 at 01:24PM by