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We help you regarding the identification and correction of misclassifications

Everybody makes mistakes. Our data suppliers are no exception to that. Since we cannot check every financial statement manually, these mistakes will be carried forward to you and can result in unusually huge items or the missing of items that actually exist (like depreciation). In case you spot any problems regarding misclassification, please don’t hesitate to contact us so we can fix the data of which all users will benefit.However, here are some of the data difficulties we encountered in the past:

No depreciation and amortization

Firms using the direct method when preparing their cash flow statement might end up without depreciation and amortization. However, this does not mean that the firm does not have depreciation and amortization. This problem will be carried forward through the data vendors that usually just take the data that is offered in the cash flow statement. If you want to find the depreciation value, you have to check the notes in the firms’ financial statement (Investment properties/PPE in the in >details of operating expenses<) and adjust the figures in the FS sheet accordingly.

“Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses”

Big gaps between two years for any item which is not explainable

Any item that increases rapidly within a year runs the risk of beeing misclassified. The only way to make sure you are working with the right data is the check as many data sources as possible (Reuters, FactSet, annual report). Once the error is spotted it can be manually adjusted in the FS sheet.