Digital Financial Reporting

Accountants, do you dispute any of the following mathematical relations between accounting concepts? If so, which ones would you dispute?

• Assets = Liabilities + Equity
• Assets = Liabilities And Equity
• Assets= Current Assets + Noncurrent Assets
• Noncurrent Assets = Assets - Current Assets
• Equity= Equity Attributable To Parent + Equity Attributable To Noncontrolling Interest
• Current Assets= Assets - Noncurrent Assets
• Liabilities= Current Liabilities + Noncurrent Liabilities
• Liabilities And Equity = Liabilities + Commitments And Contingencies + Temporary Equity + Equity
• Noncurrent Liabilities = Liabilities - Current Liabilities
• Liabilities = Liabilities And Equity - Equity
• Net Cash Flows = Net Cash Flows Operating Activities + Net Cash Flows Investing Activities + Net Cash Flows Financing Activities + Net Cash Flows Discontinued Operations + Exchange Gains (Losses)
• Net Cash Flows Operating Activities = Net Cash Flows Operating Activities Continuing Operations + Net Cash Flows Operating Activities Discontinued Operations
• Net Cash Flows Investing Activities = Net Cash Flows Investing Activities Continuing Operations + Net Cash Flows Investing Activities Discontinued Operations
• Net Cash Flows Financing Activities = Net Cash Flows Financing Activities Continuing Operations + Net Cash Flows Financing Activities Discontinued Operations
• Net Cash Flows Discontinued Operations = Net Cash Flows Operating Activities Discontinued Operations + Net Cash Flows Investing Activities Discontinued Operations + Net Cash Flows Financing Activities Discontinued Operations
• Net Cash Flows Continuing Opertaions = Net Cash Flows Operating Activities Continuing Operations + Net Cash Flows Investing Activities Continuing Operations + Net Cash Flows Financing Activities Continuing Operations
• Gross Profit = Revenues - Costs Of Revenues
• Operating Income (Loss) = Gross Profit - Operating Expenses + Other Operating Income (Multi-step approach)
• Operating Income (Loss) = Revenues - Costs And Expenses + Other Operating Income (Single-step approach)
• Income (Loss) Before Equity Method Investments = Operating Income (Loss) + Nonoperating Income (Loss) - Interest And Debt Expense
• Income (Loss) From Continuing Operations Before Tax = Income (Loss) Before Equity Method Investments + Income (Loss) From Equity Method Investments
• Income (Loss) From Continuing Operations After Tax = Income (Loss) From Continuing Operations Before Tax - Income Tax Expense (Benefit)
• Net Income (Loss) = Income (Loss) From Continuing Operations After Tax + Income (Loss) From Discontinued Operations + Extraordinary Items Of Income (Loss)
• Net Income (Loss) = Net Income (Loss) Attributable To Parent + Net Income (Loss) Attributable To Noncontrolling Interest
• Comprehensive Income (Loss) = Net Income (Loss) + Other Comprehensive Income (Loss)

While the majority of SEC XBRL financial filings do in fact comply with these mathematical relations between accounting concepts, some do not. 

Further it can be hard to reliably extract information from SEC XBRL financial filings because pieces are not reported.  For example, few SEC filers actually report the concept "Noncurrent assets".  Now, it is easy to compute that value, "Noncurrent assets = Assets - Current assets".  Easy enough.

However, it is WAY safer to have as much information provided and NOT have to impute values based on other values. This can lead to errors.  Or said another way, it is best if two approaches to computing a value exist and both are used and checked against the other to be safe that you are interpreting information correctly.

Even if an SEC filer does not report a value such as noncurrent assets, it can be helpful in checking your work to have that concept to verify computations.