Post Proposals Project Workshop

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 is no formal case for this class, however, the material covered directly relates to the common final project for 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 ACCTG522_Labs folder and run the command git pull.
Analytics Tools: Alteryx, including standard macros and the python integration tool.
Analytics Tools: Git and GitHub.

Review and Extension:

In the last class, 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.

Preparation:

1. There is no preparation required for this class.

Class Plan:

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

1. We will work together on an EDGAR explorer workflow that links to the Company Facts API, I will use Tesla as my example company.
2. I recommend that students work in their assessment teams on either their focus company or a peer company if they are planning on collecting data on competitors / industry peers etc. Covering different companies will allow teams to see any potential challenges when moving more towards a macro environment.
3. We will discuss and undertake a method to identify the data we plan on extracting in the workflow using the interactive XBRL filings.
4. We will work on extracting the data stored in JSON format from the company facts API using a template with two possible approaches to ensuring we have the correct data for each fiscal period of interest.
5. There will be workshop time for teams to further develop these or other workflows to move their project forward and identify any potential problems.