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New on KM: XBRL Extraction

March 24, 2011

Photo by Sehsuan. Some rights reserved.

We at Knowledge Mosaic are busy scurrying about in preparation for our latest release, dubbed KM3, which is due out later in the spring. However, sometimes we finish a project we’re so excited about we just can’t wait to release it. Thus, as part of our effort to continually increase our utility to users, we are pleased to announce that you can now extract XBRL information from applicable filings.

As many of you already know, more and more public companies are filing financial statements using the XBRL standard. On or before June 15th of this year, all filing entities using US GAAP accounting standards (i.e. pretty much all public companies headquartered in the US) are required to file using XBRL. With this deadline approaching, we expect a flood of XBRL filings data over the next several months and feel it is a great time to introduce this valuable feature.

What can our users expect? We now provide data in Excel format for all filings, new or old, containing XBRL data. This feature is included on the results display of the SEC Filings page and allows users to easily and quickly analyze and manipulate financial data, the vast majority of which comes from 8-K, 10-K, and 10-Q filings. To utilize this,  simply click the Excel display link on the results page and start sorting and filtering to your heart’s content.

While we realize the inclusion of this data is not an earth-shattering event, the importance of this first step should not be underestimated. Naturally, we hope this enhanced functionality is popular and useful among our users at law firms, investment companies, banks, accounting firms, government agencies, and the other organizations we serve. However, the inclusion of this data also opens the door to further functionality as part of our fall release, which could include pivot tables, advanced company profiling, and much more.

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