XBRL US announced the 2nd annual XBRL Challenge, a contest to discover the top open source analytical tools that can mine XBRL-formatted corporate financial data from the SEC’s EDGAR database. $20,000 will be awarded to the top two teams, individuals or organizations that submit the most useful and user-friendly application that conducts innovative analysis of public companies. The XBRL Challenge is sponsored by the American Institute of Certified Public Accountants (AICPA), the CFA Institute, and WRDS (Wharton Research Data Service).
8,800 public companies file XBRL-formatted financial statements down to the detailed level which makes rich content more available and functional than ever before. Legislation is pending that would require the use of XBRL-formatted data for reporting on all government program expenditures which could make XBRL-enabled tools for processing, reporting and analysis even more critical for investors, analysts, regulators, businesses, watchdogs, economists and academics.
Last year’s XBRL Challenge was won by Calcbench, a web-based application that allows users to extract, analyze and share XBRL-formatted company financial data.
XBRL US, the nonprofit consortium for XBRL business reporting, will accept submissions through February 28, 2013, with final judging and awarding of prizes to take place in late March 2013. Contestants will be provided technical documentation and given access to the XBRL US database of XBRL financial fundamentals from all public companies. In addition, this year XBRL US will provide access to a baseline normalization of XBRL US GAAP concepts which will improve the ease of working with the database as well as the usability of the analysis that can be performed. This year’s submissions will be required to perform certain analytical functions such as year-to-year, multi-company comparisons and ratio analysis.
The XBRL Challenge will be judged by a panel of experts drawn from academia, and the investment and technology communities.
Individuals, teams or organizations can learn more and enter at XBRL Challenge. Updates will be shared on Facebook and on Twitter at @XBRLUS using the hashtag #XBRLCHALLENGE.
All final submissions must be received by February 28, 2013.
TIAA-CREF Paul A. Samuelson Award For Outstanding Scholarly Writing On Lifelong Financial Security
This prestigious award, named in honor of Paul A. Samuelson, the first American to win the Nobel Prize in economics and a former CREF Trustee, includes a cash prize of $10,000. The award will be presented on January 5th, 2013 at the Allied Social Science Association (ASSA meetings) in San Diego, CA.
Submissions may be theoretical or empirical in nature, but must cover a subject directly relevant to lifelong financial security. The research must be in a book or article form and must have been published between January 1, 2011 and June 30, 2012. Submissions must be postmarked and sent to the TIAA-CREF Institute no later than September 10th, 2012.
To submit an entry, please fill out this application.