The world of financial statement analysis has undergone a dramatic change with the SEC’s Interactive Data requirement. Effective June 2011, essentially all publicly traded companies “will provide their financial statements to the Commission and on their corporate Web sites in interactive data format using the eXtensible Business Reporting Language (XBRL)." The SEC's goal in adopting this requirement is "to provide financial statement information in a form that is intended to improve its usefulness to investors. In this format, financial statement information could be downloaded directly into spreadsheets, analyzed in a variety of ways using commercial off-the-shelf software, and used within investment models in other software formats." (Source: sec.gov, Final Rule: Interactive Data to Improve Financial Reporting.)
At FTS, we have been busy bringing the power of the interactive data to our users. Valuation Tutor now gives you immediate access, with easy search capability, to any interactive filing for companies traded on the major exchanges. As of the time of this writing, over 9000 10-K's, 10-Q's, and 20-F's were accessible, and we expect to add roughly 5000 filings every quarter. We are also exploring ways to provide access to filings in other countries, since our system is used in over 20 countries.