Joint Meeting of the Mid-Atlantic and Northeast Regions

Data Analytics in Excel Using XBRL tags

• In Event: Applications of Data Analytics in the Classroom

Abstract

We designed an Excel-based project using data analysis which involves gathering and analyzing publicly traded company data using XBRL tags. The goal is to show students how to gather financial data from the EDGAR database, transform and organize the data in Excel, and then find meaningful insights.

Students experience gathering financial data and organizing it in Excel. Students compare the financial results of competing companies with industry benchmarks, enabling them to glean specific insights regarding company strengths and weaknesses. The students look for patterns and perform trend analysis to assess the company initiatives. The project encourages students to use pivot tables and charts to look for data relationships and meaning.

To conclude the project, students contextualize the data into a written narrative to explain “the story the data is telling”. If they are unable to find explanations for data trends in the financial statement disclosures, then they provide a reasonable explanation of outlier information or trends based on current industry and economic conditions.

Authors

• Christina M Olear, Penn State University - Brandywine

• Veronica Paz, Indiana University of Pennsylvania

• Timothy S. Creel, Lipscomb University