Statement of Purpose
Our “XBRLAnalyst” tool is an Excel Add-in intended for Financial Analysts, Equity Researchers, and Investors who need a simple and direct access to companies’ financial information (provided by XBRL filings) from within their Excel spreadsheets.

Resources:
Source files URL
Download XBRLAnalyst (Excel Add-in)
Video tutorials
Excel Examples

Ilya Vadeiko ilya.vadeiko@mail.mcgill.ca

Excel Add-in for financial analysis leveraging XBRL

Our Add-in creates a new Ribbon in Excel and adds several financial functions to Excel built-in function set. XBRLAnalyst combines the power of XBRL and online financial data aggregators such as Yahoo and Bloomberg by providing access to both sources of key data: reported business information and market information. Our Add-in is more than an easy to use and effective way to perform financial analysis using XBRL. It is a new framework that gives the analysts all the flexibility required to perform complex and proprietary financial analysis. It also opens new ways for collaboration between analyst.

Improves access

  • Through seamless integration with Excel, XBRL US database and several online aggregators, we provide users with a familiar interface for accessing the full set of financial facts: XBRL filings and market information.
  • We introduced a simple CSV-format file “data_definitions.csv” (editable in Excel) that provides users with tremendous flexibility in defining new financial facts based on various XBRL tags, stock trading data and mathematical expressions. With that tool, one can build any form of Comparable Companies Table and easily update it with the most recent earnings reports. No extra data crunching required every Earning Season!
  • Using the new built-in functions such as “XBRLFact”, the user can get any financial fact from XBRL filings and insert it in an appropriate cell of his/her existing workbook. The function requires 4 simple parameters: company’s CIK, XBRL tag, Fiscal Year and Period.

Usability

  • Through seamless integration with Excel we provide users with a familiar Excel interface and interactivity with all the templates and previous workbooks that the user might have created earlier and would like to update with most recent financial informaton.
  • The Add-in can be installed on any computer with Excel without the need for administrator priviledge.

Analytics

  • We used several Excel-oriented programming frameworks in order to allow building complex mathematical formulas involving XBRL tags, trading information and all the analytical/statistical tools available in Excel.
  • Our “data_definitions.csv” file provides a simple platform for collaborative development and sharing of new tools leveraging the power of XBRL.
  • Our built-in function “XBRLFact” allows constracting complex mathematical experssions using financial data pulled directly from the XBRL database.

Design

  • We put a lot of emphasis on minimizing the need to learn new program/interface by leveraging the familiarity of Excel in the community of financial information users.
  • We aimed at maximizing the flexibility of XBRLAnalyst in order to help users leverage the results of their previous work in Excel and eliminate the need to rebuild analysis workbooks from scratch.

Meet the team:

Ilya Vadeiko, PhD, MBA
Ilya began his career in quantum physics research, focused on quantum computing, statistics, and computer modelling. He worked at leading universities in Russia, Finland, the United Kingdom, and Canada. Driven by an interest in business applications, Ilya has transitioned to project management roles spanning areas from Industrial R&D to business development and finance. He has recently completed an MBA degree in Finance at McGill University in Montreal.

Vitaly Gritsenko, MsC, MA
With more than 24 years of software development experience, programming architecture and teams management, Vitaly has the know how to tackle the most complex projects. Working in Biggest Canadian banks and industry leaders in Russia, Israel and Canada he now spends time growing his own software development business.

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