The 2023 GAAP Financial Reporting Taxonomy (GRT) contains updates for accounting standards, Data Quality Committee Rules and other improvements since the 2022 Taxonomy as used by issuers filing with the U.S. Securities and Exchange Commission (SEC).
The Financial Accounting Standards Board (FASB) staff recently issued for comment the following: Proposed technical and other conforming improvements for the 2024 SEC Reporting Taxonomy (SRT) (File Reference No. 2024-1000) The comment period for the proposed technical and other conforming improvements for the SRT ends on November 6, 2023. Interested parties may provide comments on […more]
The Financial Accounting Standards Board (FASB) published a request for comment on proposed GAAP Taxonomy Improvements for the Proposed ASU—Financial Instruments-Credit Losses (Topic 326): Purchased Financial Assets. The proposed Update would require the application of that single accounting approach to all acquired financial assets (with exceptions) based on seasoning criteria. Comments are due by August […more]
The Financial Accounting Standards Board (FASB) staff have issued for comment proposed GAAP Taxonomy Improvements for an Update on Stock Compensation (Topic 718): Scope Application of Profits Interest Awards. Read the Release Notes. The comment period on the proposed GAAP Taxonomy Improvements for the proposed Update ends on July 10, 2023. Interested parties may provide […more]
The Financial Accounting Standards Board (FASB) issued for comment proposed GAAP Taxonomy Improvements for the Proposed Accounting Standards Update—Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, to improve the accounting for and disclosure of certain crypto assets. Comments are due by June 6, 2023. Read the action alert: FASB Staff […more]
The Financial Accounting Standards Board (FASB) issued for comment proposed GAAP Taxonomy Improvements for the Proposed Accounting Standards Update—Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The comment period for this public exposure ends on May 30, 2023. Read the action alert: FASB Staff Issues Proposed GAAP Taxonomy Improvements for Proposed ASU on Improvements […more]
The Financial Accounting Standards Board (FASB) announced that the Securities and Exchange Commission (SEC) has accepted the 2023 GAAP Financial Reporting Taxonomy and the 2023 SEC Reporting Taxonomy. The FASB also finalized the 2023 DQC Rules Taxonomy. Read the FASB announcement: XBRL SEC Accepts GAAP Taxonomies Action Alert_20230321
This webcast will discuss improvements to the 2023 GAAP Financial Reporting Taxonomy (Taxonomy) for recently issued FASB Accounting Standards Updates (ASUs) and to the 2023 SEC Reporting Taxonomy (SRT) based on feedback and internal analysis collectively referred to as the “2023 Taxonomy Releases.” A fireside chat will be included featuring Wes Bricker, Vice Chair—US/Mexico Trust […more]
The Financial Accounting Standards Board (FASB) published a proposed GAAP Taxonomy Style Guide, Reference Style Guide (Style Guide) to help in analyzing the presentation and disclosure requirements of the FASB Accounting Standards Codification (ASC) to determine the appropriate role and format of the reference related to elements included in the GAAP Financial Reporting Taxonomy (GRT) […more]
The Financial Accounting Standards Board (FASB) has extended the period for the Invitation to Comment on Proposed Meta Model Relationships to May 11, 2023. Additional information about the ITC can be found through this FASB/XBRL US webinar, “FASB Meta Model Invitation to Comment and Proposed Policy Election Element Relationships” held on Nov 2, 2022. Watch […more]
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