Standardized financial reports are automatically generated from company financial reports using a taxonomy library that maps company-specific terms to corresponding standard terms. Line items in the standardized financial reports include standardized terms derived from company-specific terms in the company financial report as well as corresponding financial information obtained from the company financial report. The financial information in the standardized financial report may be highlighted to indicate its source, and may also be cross-referenced back to its source location in the company financial report so that the information can be verified.