Welcome!

Eclipse Authors: Pat Romanski, Elizabeth White, Liz McMillan, David H Deans, JP Morgenthal

News Feed Item

XBRL US Announces Sector 3 Takes Grand Prize in XBRL Challenge Developer Contest

Webcast Archive of XBRL and Financial Analysis Conference Now Available

NEW YORK, March 29, 2013 /PRNewswire/ -- XBRL US, the nonprofit consortium for XBRL reporting, announced this week that Sector 3, an application within the XBRL to XL product suite, is the $20,000 Grand Prize Winner of the 2012 XBRL Challenge.  The Challenge is a developer contest to build the best open source analytical application that consumes XBRL-formatted data from the Securities and Exchange Commission's (SEC) EDGAR database.  The announcement was made during the XBRL and Financial Analysis Conference which was webcast live.  The archive for that webcast is now available and can be accessed at http://xbrl.us/FinAnalysisWebcast.

The winning entry to the XBRL Challenge, Sector 3, was chosen based on the simple design and strong analytics that allow users to perform multidimensional analysis and to standardize business segments and concepts.   The conference featured speakers from CFA Institute, Columbia Business School, Crain's New York, Edgar-Online, GMI Ratings, Google, Morgan Stanley, New York University, Stern School of Business, PwC, Rivet Software, the SEC, Thomson Reuters, WRDS (Wharton Research Data Services), XBRL US, and the winner of the 2011 XBRL Challenge, Calcbench.  Topics covered during the ½ day event included a discussion about XBRL databases, a review of the XBRL Challenge applications and a conversation among investors and regulators about their use of XBRL data. 

"The goal of the XBRL Challenge contest was to expand the landscape for tools that consume XBRL-formatted corporate data,"  said Paul Ratnaraj, Director – Advanced Initiatives, at Wharton Research Data Services (WRDS). "We know the demand for XBRL data, with its greater accuracy, granularity and timeliness is there among investors and other users of public company data.  Now we need to spur the development of more XBRL consumption tools." 

Data produced in XBRL format is computer-readable which gives it greater portability, reliability, and timeliness, and can provide individual and institutional investors with better information for investment decisions.  

The XBRL Challenge was sponsored by the American Institute of CPAs, CFA Institute, WRDS and XBRL US.  A panel of five judges was assembled to review the Challenge entries and select the winner.

Sector 3 is part of the XBRL to XL application suite, created by Fundamental X, which was founded by Jim Truscott in 2000 and is based in Hastings, England. 

More information about the contest and links to the XBRL Challenge winner and finalists can be found at http://xbrl.us/challenge.   

About the AICPA

The American Institute of Certified Public Accountants (AICPA) is the world's largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest.  AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center at aicpa.org/press.

About CFA Institute

CFA Institute is the global association for investment professionals. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 105,000 members, who include the world's 95,000 CFA charterholders, in 135 countries and territories, as well as 135 affiliated professional societies in 58 countries and territories. More information may be found at www.cfainstitute.org.

About WRDS
Wharton Research Data Services (WRDS) is the leading, comprehensive, internet-based data research service used by academic, government, non-profit institutions, and corporate firms.  WRDS provides the user with one location to access over 200 terabytes of data across multiple disciplines, such as Finance, Marketing, and Economics.  WRDS provides flexible data delivery options, including a simple but powerful web query method, and provides researchers with the ability to reduce their research time and execute strategy development on the powerful WRDS Cloud.  Developed in 1993 to support faculty research at the Wharton School of the University of Pennsylvania, WRDS has since evolved to become the leading business intelligence tool for a global research community of 30,000 users at over 300 institutions in 27 countries.   http://wrds.wharton.upenn.edu

About XBRL US

XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission.  www.xbrl.us

Links:

Website: http://xbrl.us  

XBRL Challenge:  http://xbrl.us/challenge

Link to conference webcast archive:  http://xbrl.us/FinAnalysisWebcast

 

SOURCE XBRL US

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DSR is a supplier of project management, consultancy services and IT solutions that increase effectiveness of a company's operations in the production sector. The company combines in-depth knowledge of international companies with expert knowledge utilising IT tools that support manufacturing and distribution processes. DSR ensures optimization and integration of internal processes which is necessary for companies to grow rapidly. The rapid growth is possible thanks, to specialized services an...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...