In a continued effort to educate on the development of XBRL technology in industries such as financial services (and beyond), Merrill Corporation will share articles and columns published on the topic.
The XBRL Challenge is a contest developed and sponsored by Wharton Research Data Services and the CFA Institute. The goal is to create the best and most innovative for extracting data for multi-company comparison via desktop applications; or one that creates real-time valuation measures and delivers to mobile devices.
The prize: $20,000
Beyond the programming aspect, the contest will give contestants access to technical information, XBRL experts and a database of all XBRL-formatted financial statement data, updated within minutes of posting to the SEC to test out their projects. This will not only allow for proofing of the application technology, but because XBRL experts will be acting as pseud-trainers, these people can get an idea of who gets it and what needs to be done to better promote XBRL's benefits and advantages.
We will be very interested to see the results of some of the top candidates. With only about six months to plan, develop and submit projects (submissions must be made by January 31, 2012 with final judging and the awarding of prize will take place in February 2012) it is smart to allow participants access to XBRL experts. Additionally, with the panel of judges to include members of Google Finance, GIV Venture Partners, Pipeline Trading, Viano Capital and Wharton Research Data Services, even those that don't win will get a chance to have their work reviewed and critiqued by a number of influential people.
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Like many other app-creating contests for computers or smartphones, the XBRL world has discovered that the best way to both improve and evolve their technology is by enticing some of the smarter programmers to explore new ways for XBRL to be used through the promise of cold, hard cash.
The XBRL Challenge is a contest developed and sponsored by Wharton Research Data Services and the CFA Institute. The goal is to create the best and most innovative for extracting data for multi-company comparison via desktop applications; or one that creates real-time valuation measures and delivers to mobile devices.
The prize: $20,000
Beyond the programming aspect, the contest will give contestants access to technical information, XBRL experts and a database of all XBRL-formatted financial statement data, updated within minutes of posting to the SEC to test out their projects. This will not only allow for proofing of the application technology, but because XBRL experts will be acting as pseud-trainers, these people can get an idea of who gets it and what needs to be done to better promote XBRL's benefits and advantages.
We will be very interested to see the results of some of the top candidates. With only about six months to plan, develop and submit projects (submissions must be made by January 31, 2012 with final judging and the awarding of prize will take place in February 2012) it is smart to allow participants access to XBRL experts. Additionally, with the panel of judges to include members of Google Finance, GIV Venture Partners, Pipeline Trading, Viano Capital and Wharton Research Data Services, even those that don't win will get a chance to have their work reviewed and critiqued by a number of influential people.
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Merrill Corporation is proud to offer XBRL Complete, a suite of services that meets - and has options to exceed – the mandated requirements for XBRL for mutual funds. For more information, please click here or call 866-367-9110.
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