2021 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 Announced FASB Guide for Financing Receivable and CECL Disclosures
The Securities and Exchange Commission (SEC) announced that the Financial Accounting Standards Board (FASB) has published an implementation guide for Financing Receivable and Current Expected Credit Loss (CECL) Disclosures, and a proposed Taxonomy Implementation NOTE (TIN) Guide. The public comment period for both guides will end on July 26, 2021.
FASB Taxonomy – Call for Comment: Derivatives and Hedging (Topic 815)
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 GAAP Taxonomy Improvements for a Proposed Accounting […more]
FASB Webcast: IN FOCUS: 2021 GAAP & SEC Reporting Taxonomy Improvements & SEC Update
Registration is open for an upcoming Financial Accounting Standards Board FASB webcast IN FOCUS: 2021 GAAP and SEC Reporting Taxonomy Improvements and SEC Update. The discussion will include the following: Discussion of XBRL data in use An update from the SEC staff Overview of the 2021 Taxonomy including discussion of: The application of the Taxonomy for […more]
SEC EDGAR Filer Manual Cites XBRL US DQC Rules
The Securities and Exchange Commission (SEC) announced the publication of the DRAFT EDGAR Filer Manual (Volume II) with an implementation date of March 22, 2021. The SEC announced a number of changes in EDGAR Release 21.1 including the fact that EDGAR will support XBRL US Data Quality Committee (DQC) rules in the US GAAP Taxonomy […more]
SEC Announces Public Review of FASB Proposed Implementation Guides
The Securities and Exchange Commission (SEC) announced that the FASB had published two new proposed implementation guides based on the 2021 US GAAP Financial Reporting Taxonomy which is currently under consideration by the SEC. The two proposed guides are available during a public comment period as noted below and will cover: Dimensional Modeling for Disclosures […more]
SEC Announces FASB Public Review of XBRL US Data Quality (DQC) Rules Taxonomy
The Securities and Exchange Commission announced that the FASB has issued a proposed XBRL US Data Quality Committee (DQC) Rules Taxonomy, along with a Technical Guide on the US GAAP Taxonomy and the DQC Rules Taxonomy. Read the SEC announcement Visit the Taxonomy Read the FASB Technical Guide
FASB Taxonomy – Call for Comment on DQC Rules Taxonomy
FASB Staff Issues Proposed XBRL US DQC Rules Taxonomy and Accompanying Technical Guide The Financial Accounting Standards Board (FASB) staff recently issued for comment the following: Proposed XBRL US DQC Rules Taxonomy (DQCRT) Proposed Technical Guide Proposed SEC Reporting Taxonomy (SRT) Technical Guide The comment period on the proposed DQCRT and the proposed accompanying Technical […more]
FASB Holds Public Review for Technical Improvements for the 2021 SEC Reporting Taxonomy
The Financial Accounting Standards Board (FASB) published proposed technical improvements for the 2021 SEC Reporting Taxonomy in a set of Release Notes for a review and comment period that ends November 2, 2020. Interested parties may provide comments on the proposed technical and other conforming improvements by emailing their comments to xbrl@fasb.org or by sending […more]
FASB 2021 SEC Reporting Taxonomy – Call for Comment
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 Technical and Other Conforming Improvements for the […more]
