XBRLFINAPP: XBRL financial analytics Platform - beta1.0 release

Hello friends,
New updated xbrlfinapphas been released.

Now It has more capabilities and more dynamic nature. So its going to be fun; and i am sure you will enjoy analysis of xbrl financial data.

Visit xbrlfinapp at: http://xbrlfinapp.pythonanywhere.com/

Some important updates are:

• Formula Design: Now user can design custom formulas. For that they need to enter id of those xbrl elements. There are two types of formulas(type1 and type2). type1 formulas accepts xbrl elements in form of list/array of their ids. while type2 formulas are based on type1 formulas where you can write simple arithmetic formulas based on previously designed type1 formulas
• login system: User has to register and login to get started with the app
• Makeover of app: website's look and feel has been update to make user comfortable with the site

Most important of them are formula building. User can build their formulas.  In mathematics; formulas are as simple as: x=3,y=2,z=x+y;

Like this; user can write their own financial formulas.

For example:

lets download sample xbrl: NUVASIVE INC's 2012, 10-K, and upload this at xbrlfinapp.

UGT has xbrl element 'us-gaap_AssetsCurrent' for Current Assets(or in simple manner, just assume, if x=30). So lets we first create type1 formula of this by giving it a name and in input list.

Similarly for current liabilities we have element 'us-gaap_LiabilitiesCurrent', and we will create type1 formula(or in simple manner, just assume, if y=20) for it as:

So output of this operation at xbrlfinapp will be something like(if you have upload valid sec filled xbrl package) :

All that was for type1 formulas. Now type2. Say we want to find out working capital; then formula for it in general is current assets - current liabilities. So in XBRLFINAPP we can write such mathematical equations in type2 formulas.

Create type2 formula of working capital as:

We have just wrote "currentAssets - currnetlia" as a input and give it a name 'workingCapital'(as simple as "z=x-y"). So output of this operation will be:

Similarly type2 formula of current ratio can we written as:

and its result will be:

By this way; user is allowed to use "+","-" and "/" operator with "(" or ")" for writing equations.

Note:

• type1 formulas will contain array or list of ids of xbrl elements(separated by comma) which you want to add. and these elements must have same item type. If user has added different item type elements; nothing will happen. you can also add ids of extension elements.
• type2 formulas will contain previously formulated type1 and type2 formulas.
• And you can't delete type1 or type2 formulas which are used in formulas which were created after it.
• You can't modify the name or alias of formula after creating it. To modify it first delete it and then create it again with new name or alias.

One of the most important feature of xbrlfinapp is; its intelligent element discovery.

XBRLFINAPP is intelligent in terms of finding element. For example if the first xbrl element of input array of type1 formula is not present in instance then it will find its part; and return the total. for example; in this filling lets find "cash and cash equivalents". But it is not present. So xbrlfinapp will search for its component and will return total of them(by resolving itemtype, balance type, context, unit, period in background), and if additional xbrl elements has been added as input; then rest of that type1 array will be added into this total if they are the not part of first element. Part means: are they duplicate or they are part of cash or cash equivalents. It means if user has created extension then we can  add extensions here.

Output of this is:

Here; output has 4 values because XBRLFINAPP with search for element in complete filling. Also; look at the filtered elements list; it has two elements; and when you look at the balance sheet; here they are:

Such type of issue was the most challenging part for me; For example; hardest question were:

1. how will you calculate current ratio if filler has not provided current assets's tag?

2. How will calculate Net Income if filler hasn't tagged it??

But now;  this question has been resolved by xbrlfinapp :)

So my formulas are now constant for all companies. I don't require to change them for companies to companies.

For more register and login xbrlfinapp; you will receive 35 formulas by defaults. you can learn from them how to create formulas based on these formulas.

Anyways; friends if you face any query/error/bug; please email me about that at "namitkewat@gmail.com".