Montreal, Canada, August 30, 2014 --(PR.com
)-- 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,” says 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.
About FinDynamics, creator of XBRLAnalyst
FinDynamics, a Montreal-based start-up developing financial data platforms, is the leader of XBRL data analysis applications integrated with the Microsoft Excel platform. Founded in 2013, FinDynamics’ objective is to create an innovative financial analysis platform allowing the transition to new, improved, more intuitive and easier methods of performing financial analysis by integrating the XBRL data format on Microsoft Excel platform and taking advantage of FinDynamics’ affordable, high-quality financial data streams. FinDynamics is committed to provide free access to its products for academic users in order to promote the teaching, research, and adoption of XBRL in the financial sector.
FinDynamics is a Member of Microsoft Partner Network and Microsoft BizSpark Startup Program.
For additional information on FinDynamics, please call +1 (877) 791-XBRL (9275) or visit our website at http://findynamics.com/