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.
Upcoming XBRL US Events
Public Review for Version 31 of DQC Rules
AI Technologies Impact on Company Compliance Activities
Center for Data Quality Committee Meeting
Domain Steering Committee Meeting
Communications & Services Steering Committee Meeting
Digital Standards for Digital Assets – Supporting the GENIUS Act
