The purpose of this application is to be the most advanced financial reporting application on the web and most importantly I want it to be driven by the users.

This application is beeing built utilizing a new technology known as Interactive Data. The Securities and Exchance Commission (SEC) will be requiring corporations to use this technology when filing their financial statements. This allows unprecidented access to corporate financial statements and I want to leverage this information to build the most advanced financial statement analysis tool on the web.

Currently, the corporate filings being submitted to the SEC are provided on a voluntary basis. Furthermore, the information being submitted isn't going through any type of validation. However, once the SEC mandates the new filing technology the quality of the information being submitted will be no different if not better then that being submitted today.

Advanced Financials is built on the new technology that the SEC (Securities and Exchange Commission) is pushing right now called Interactive Data also known as XBRL. This initiative would some day require corporations to file their financial information via the XBRL language. XBRL is an open standard and accessible to everyone therefore leveling the playing field. Also, because this information will be available to everyone you will see many different financial tools become avaible. Just like ours.

Currently the SEC initiative is in its early stages and is only being done on a voluntary basis but this is expected to change in the near future. Furthermore, because the filings are only being done on a voluntary basis and the XBRL language is still in development the data that is being submitted is not going through any validation primarily because companies are just starting to get use to this initiative. In other words the data being submitted is currently not reliable.

The tools we provide here are a proof of concept and will be here ready to go once the SEC mandates XBRL.