XBRL Agent

When companies submit their financial reports to regulators like the SEC, they are required to use a standardized format called XBRL. eXtensible Business Reporting Language (XBRL) is a standard language for business and data communication. XBRL acts like a coding language for financial data, ensuring that key information such as revenue, expenses, and assets is tagged in a consistent and machine-readable way.

Feature

  • An LLM agent integrated with specialized tools for XBRL analysis

  • improve accuracy when extracting information from XBRL documents

The Potential of XBRL Agent for Compliance

  • Saves Time and Reduces Human Error

  • Makes Financial Reports Clear and Consistent

  • Accelerates XBRL Application Development

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The XBRL Agent integrated with specialized tools designed specifically for analyzing XBRL documents. There are two key tools: a Retriever, which brings in accurate and up-to-date financial knowledge, and a Calculator, which enhances the agent’s ability to perform precise ratio calculation. Together, these tools allow the agent to extract relevant data from XBRL filings with greater accuracy and reliability.

  • Paper:

XBRL Agent: Leveraging Large Language Models for Financial Report Analysis.ICAIF 2024.