Montreal, Canada (PRWEB) August 28, 2014
FinDynamics, the leader of XBRL applications on the Microsoft Excel platform, announced the release of a new version of XBRLAnalyst for Excel and its first Online version, iXBRLAnalyst. XBRLAnalyst provides full access to fundamental financial data from 10-K, 10-Q financial reports as well as stock market data in a convenient Excel-based platform. Applying XBRLAnalyst for reviewing the financial figures published by Fortune magazine shows interesting results.
In June 2014, Fortune Magazine published the list of top 500 US stocks ranked by Revenue. Its methodology of calculating financial values is described in the first paragraph of the publication. With XBRLAnalyst, we can easily compare Fortune’s figures with actual reported values for 483 public companies from the Fortune 500 list that have to submit XBRL reports to SEC (see screenshot).
The list in the screenshot is sorted by the Revenue deviation from reported values after adjustments. Adjustments for Excise tax, Discontinued Operations and Provisions for Doubtful Accounts can be easily traced to the original financial report of the company with the help of XBRLAnalyst for Excel. The comparison with published values showed a few deviations that could not be explained by the adjustments (red cells).
“With such tools as XBRLAnalyst that leverage the new financial reporting standard called XBRL (mandatory for filing reports to SEC in the US), investors and financial analysts can now afford effective access to live and accurate fundamental financial data” said Ilya Vadeiko, president of FinDynamics.
Anyone can freely view the data presented in this press release by using iXBRLAnalyst (Online version) or XBRLAnalyst for Excel (Desktop version). For more details about the new features of XBRLAnalyst and iXBRLAnalyst, watch the video demonstration.