2020 US GAAP Financial and SEC Reporting Taxonomies

The 2020 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements, including an initial set of Data Quality Committee Rules.


SEC on Availability of FASB Implementation Guides

The SEC announced the availability of FASB Implementation Guides covering the following topics: Accounting Changes Financing Receivable and Current Expected Credit Loss Disclosures Insurance—Long-Duration Contracts Leases under Topic 842 Retirement Benefits—Phase 3 Revenue from Contracts with Customers (Including Statement Presentation of Revenue and Cost of Revenue) Read the announcement. Access the guides.  


IN FOCUS: 2020 GAAP and SEC Reporting Taxonomy Improvements and SEC Update

1PM EDT Thursday, April 2, 2020
FASB Webinar hosted by FASB
Register for this Free Event

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 […more]


DQC Rules are now available in the FASB US GAAP Taxonomy. Shouldn’t every SEC filer use them?

Heather Krupa, CPA, Controller at Global Water Resources

DQC Rules are now available in the FASB US GAAP Taxonomy. Shouldn’t every SEC filer use them?


XBRL Data Quality Checks Available in FASB US GAAP Financial Reporting Taxonomy

XBRL US announced today that the Financial Accounting Standards Board (FASB) has incorporated freely available validation rules into the 2020 release of the US GAAP Financial Reporting Taxonomy. The rules, developed by the XBRL US Data Quality Committee (DQC) are used by public company filers to identify and resolve errors in their XBRL financials prior […more]


Call for Comment on Proposed Taxonomy Implementation Guides

Friday, January 24, 2020 - Monday, February 24, 2020
Proposed Taxonomy Implementation Guides Comment Period hosted by FASB
Leases under Topic 842

FASB Staff Issues a Proposed Taxonomy Implementation Guide on Leases under Topic 842 and a Proposed Taxonomy Implementation Guide on Revenue from Contracts with Customers under Topic 606 for Comment Leases under Topic 842, includes new examples that highlight the reporting of right-of-use assets in a classified statement of financial position and an unclassified statement […more]


Harmonizing accounting and data standards

Donna Johaneman, Senior Project Manager XBRL, FASB; and Louis Matherne, Chief of Taxonomy Development, FASB

The FASB approach to incorporating new ASUs into XBRL data standards.


Building a taxonomy is a team effort

Donna Johaneman, Senior Project Manager XBRL, FASB; and Louis Matherne, Chief of Taxonomy Development, FASB

Building a taxonomy is a team effort. Found out how the US GAAP Taxonomy was developed, and how it’s maintained today.


FASB Chairman to Address Importance of Standardized Data in Setting Accounting Standard, at XBRL Investor Forum, Nov 4 in NY

Topics to be covered include blockchain, artificial intelligence, new reporting domains like municipal securities reporting, and more.


FASB Taxonomy – Call for Comment

Thursday, October 17, 2019 - Monday, November 18, 2019
Proposed Taxonomy Improvements Comment Period hosted by FASB
Proposed DQCRT Taxonomy

Process Improvement 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 XBRL US DQC Rules Taxonomy and Accompanying […more]