XBRL 2.0

Digital financial reporting that actually works

XBRLogic Unveils 8K To XBRL Processor

For public companies complying with SEC reporting requirements, the 8K/earnings press release is the tip of the spear. These financial results are preliminary, unaudited, condensed and incomplete compared to the 'official' 10K and 10Q reports. But they predate these more structured SEC filings, often by days or weeks. They convey the company's key financial results, non-gaap metrics, operating data and future guidance, including data not found in 10K’s or 10Q’s. The 8K makes news and moves markets. So the timely processing, standardization and analysis of 8K data is crucial to investors. 

Drawing on 20 years of experience in financial data extraction, XBRLogic (formerly AsReported.com) has developed a proprietary, fully-automated process to standardize 8K financial statements against the XBRL US-GAAP taxonomy. Key metrics and company guidance are planned for phase II. This process leverages XBRLogic’s existing XBRL framework and cloud-based data model. The application is currently in beta and expected to go live within two months. 8K data will be available via JSON API within minutes of release for 80% of companies. Other data vendors use labor-intensive data extraction that can take hours depending on the queue.

A recorded or live demo of the 8K processor is available on request.