Monday, March 03, 2008

New Databases from the SEC

The SEC has recently released two new products to give investors access to SEC filings from the group of about forty companies participating in the XBRL Voluntary Filing program. These products give us a "preview" of what the new EDGAR will look like. EDGAR is currently undergoing a $54 million dollar overhaul in a project that is expected to be completed by year end.

Financial Explorer is a visualization tool. It represents all the line items in the financial statement as "atoms" labeled with the item value as well as the percentage change from the previous period. It is a nice easy way to see how a company performed in the current fiscal period in relationship to a prior period. You can also drill down into the components of the line item to understand how the numbers are compiled. To get a sense of this, choose a company and look at its expenses or its assets.

The Interactive Financial Report Viewer can be used to view financial reports in XBRL, export financial data to Excel and chart selected data items.

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