Digital Financial Reporting

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:

• Narrative
• HTML page of the 271 individual issues I see
• Excel spreadsheet of raw data

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.