Post-Preliminary Proposal Group Project Workshop II

This class will continue to develop Alteryx workflows which allow for the access of real-time data via the SEC's EDGAR API. We will be using the company facts interface in this class to explore numerical XBRL data and using the data to generate various financial ratios.

Why is this important?

Understanding how to develop Alteryx workflows that access real-time SEC data through EDGAR is essential for students aiming to leverage financial data in today's fast-paced business environment. Mastery of the EDGAR API and numerical XBRL data allows future professionals to efficiently extract and analyze up-to-date financial ratios and metrics. This skill set not only enhances data-driven decision-making but also positions students to respond quickly to changing financial landscapes, a critical advantage in fields such as auditing, financial analysis, and regulatory compliance.

Materials:

Case: There are no cases, but the material in class directly relates to the common final project for ACTG 521 & 522.
Slides: will be available for download by the beginning of class in either powerpoint or pdf formats.
Data: A data update may be required for this class. To ensure your files are the most up-to-date, navigate to ACCTG521_Labs folder and run the command git pull.
Analytics Tools: Alteryx Interface tools (Macros).

Review and Extension:

In ACCTG522, we explored project proposals, with many teams identifying the need for reliable financial data. This session builds on that by enabling us to access key financial metrics efficiently through Alteryx and the SEC's EDGAR API. This approach streamlines the process, eliminating the manual burden of extracting data directly from 10-K filings and allowing teams to focus on analysis and insights. This is a two part class, with the first class in ACCTG 522 and the next part in ACCTG 521.This class also draws on the material covered in class 4 relating to Audit risk and materiality, which provided a framework for identifying accounts, ratios, and metrics to assess risk.

Preparation:

1. There is no preparation required for this class.

Class Plan:

Teams: during this class, please sit in your assessment teams.

1. The goal of this class is to find ways to create a more flexible ETL tool to aid in the extraction of financial data for the calculation of ratios, trends and other metrics.
2. Teams should focus on the potential for any changes in the names of XBRL fields, as they will need to map them separately.