FRAANK (Financial Reporting and Auditing Agent with Net Knowledge)

University of Kansas
posted on 10/03/2005

'FRAANK-XBRL is intelligent agent software for accounting and auditing domain. It reads financial reports (e.g., 10K and 10Q) filed with the SEC. It parses the information, identifies tables containing financial statements (such as the income statement, the balance sheet statement and the statement of cash flows), parses each table into line items and identifies every line item by matching it to the appropriate tag of the XBRL taxonomy, and then tags the information using US-XBRL taxonomy. This agent can be used to search through the Internet for financial and non-financial information for business decisions, developing risk profiles, and credit worthiness. In general the agent can search for any financial and non-financial information in 10K and 10Q reports of public companies through the Internet.

Suggested Uses

Financial Analysts for investment ecisionsRegulators Banks for credit evaluation Companies making acquisition decisionsAuditors for analytical procedures

Innovation Details

Detailed Description

FRAANK has the following features:Fetches 10K and 10Q reports for publicly traded companies from SEC Edgar Database, parses the information and recreates electronic documents for the financial statements and the other non-financial statements such as �Items� and �Footnotes�Tags the financial information in XBRL taxonomy for performing financial analyses, risk analysis, industry benchmarking, etc.It can also fetch information from other websites such as current stock quotes and similar information.It can search for non-financial information from 10K and 10Q.

File Number: 2003 FY 15

Web site: http://www.business.ku.edu

Other Information: *State of Development* At the moment FRAANK is a tool to fetch the financial and non-financial information of a public company. FRAANK can be programmed to develop on-line risk assessment models, credit worthiness, and gathering specific financial and non-financial information for specific users. Available for license.

IP Protection

License Online

This innovation currently is not available for online licensing. Please contact Ann Spitz at University of Kansas for more information.

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