The agenda will include:
- An update from the SEC staff
- Discussion of the application of the Taxonomy for Accounting Standards Updates (ASUs) that are effective this year, in particular, Credit Losses.
- Improvement in modeling in the areas of:
- How to tag accounting changes
- Variable Interest Entities and Equity Method Investments
- Retirement Benefits—Phase 3
- Categorization of references to improve element selection.
- Post-Implementation changes to Taxonomy Implementation Guides, including Leases under Topic 842 and Revenue from Contracts with Customers under Topic 606.
- Introduction to the new 2020 XBRL US DQC Rules Taxonomy.
- Discussion of XBRL data in use.
Speakers: Louis Matherne, FASB Chief of Taxonomy Development, and other FASB Taxonomy staff; Sandy Peters, Senior Head, Global Financial Reporting Policy Group, CFA Institute; Mike Willis, Assistant Director, Office of Structured Disclosure, U.S. SEC; and Julie Marlowe, Senior Staff Accountant, Office of Structured Disclosure, U.S. SEC.
Advanced Preparation Needed: Participants are encouraged to review the 2020 GAAP Financial Reporting Taxonomy (available at http://www.fasb.org). They also are encouraged to review the supporting materials listed on the FASB Taxonomy page.
