Report errors can make companies susceptible to the disapproving reactions of outside users or entities, particularly SEC. And as data provider heavily relying on companies' filings, XBRLAnalyst is aware that any errors or mistakes on source documents will also affect its system's results.
In this article, we summarized all facilities designed by XBRLAnalyst to detect or correct filing mistakes/errors. So as additional information, listed down here are the guides or symbols prompting error detection:
1. Negation (- 1): if company filed the value opposite to its designated sign (debit account, filed as credit account)
2. Scale Error: if company made a mistake on typing the reference scale of the values, XBRLAnalyst can detect it and will be automatically corrected in the system.
3. Calculation Relationship Errors: SEC requires some accounts to have calculation relationship in the filing, but most companies have either incomplete, missing or errors in this. XBRLAnalyst noted this by the "Calculator" symbols as below:
- Incomplete calculation or context relationship
- Missing calculation Relationship
- Disclosure calcuation error
4. Unequal/ Deviation on Calculation Linkbase: if the reported line item is not equal to the linked breakdown in notes
5. Deprecated Concepts: if company used an outdated, revised or unaccepted XBRL elements on its filings, the system will prompt it by highlighting the related data in Document Viewer and will be included in export summary in excel.