Effective January 1, 2018, proposed Taxonomy Improvements to this Accounting Standards Update will have a formal comment period concurrent with the issuance of the Accounting Standards Update. This replaces the past practice of an annual 60-day comment period on the entire Taxonomy.
FASB Staff Issues Proposed Taxonomy Improvements for Proposed Accounting Standards Updates – Intangibles, Business Combinations and Codification Improvements for Lessors
The Financial Accounting Standards Board (FASB) staff recently issued for comment, proposed Taxonomy improvements for the following proposed Accounting Standards Update:
- Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private Company Accounting Alternatives on Goodwill and Certain Identifiable Intangible Assets to Not-for-Profit Entities (Release Notes) – comment period ends February 18,2019
- Leases (Topic 842): Codification Improvements for Lessors (Release Notes) – comment period ends January 15,2019
Interested parties may provide comments on the proposed Taxonomy Improvements by sending their comments to firstname.lastname@example.org.