Vision and Mission
XBRL is an XML-based standard for business reporting that has disrupted the industry of financial data analysis. There is no longer a need to rely on ambiguous normalized financial concepts maintained by individual data providers who charge exorbitant prices for access. Because of XBRL, financial analysts, controllers, and individual investors can conveniently and efficiently gain affordable access to the data from reports (10-K, 10-Q, etc.) of public companies. With the right tools such as XBRLAnalyst for Excel, one can perform financial analysis with an unprecedented level of granularity, and custom build Excel-based models for every public company on the market, regardless of its size or coverage by other analysts. Our goal in creating XBRLAnalyst is to develop an innovative financial analysis tool which will promote the transition to new, better and easier methods of performing financial analysis.
One of our commitments in that endeavour is to provide free access to our products for academic users and to promote the teaching, research, and adoption of XBRL in the financial sector.
Affiliation and Partners
We are an Analytics Developer Member of XBRL US, Inc. The development of XBRLAnalyst was started as an application for the 2nd Annual XBRL Challenge. XBRL US provides us with access to their extensive XBRL database of financial reports of public companies in the US.
We are pleased to announce our affiliation with the UWCISA (University of Waterloo’s Centre for Information Integrity and Information System Assurance) which has an active research program addressing topics of mutual interest such as XBRL, information quality and data integrity. http://accounting.uwaterloo.ca/uwcisa/index.html
Our innovation and software development in the area of XBRL data processing for Excel and artificial intelligence algorithms for automated normalization of accounting concepts is funded by the Industrial Research Assistance Program (NRC-IRAP) of the Government of Canada.
XBRLAnalyst is one of the financial data platforms referenced by XBRL International for consuming XBRL data in analysis and audit of XBRL reports. It is capable of processing US-GAAP and IFRS reports prepared in XBRL format as well as provides access to financial reports of all public companies listed in the US.
Ilya Vadeiko, the co-founder of FinDynamics, is a member of TAXONOMY ADVISORY GROUP (TAG) that was established by The Financial Accounting Standards Board (FASB) “to increase participation and input into the ongoing development and maintenance of the U.S. GAAP Financial Reporting Taxonomy (UGT) by individuals with strong technical knowledge in applying and using the UGT.”