The 2020 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements, including an initial set of Data Quality Committee Rules.
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]
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]
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]
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 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]
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 email@example.com or by sending […more]
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]
To aid service providers and XBRL software providers, the FASB published Extensible Enumerations 2.0 Implementation Impact on Service Providers and XBRL Creation Software – Are You Ready? which addresses the implementation of Extensible Enumerations 2.0 in the 2021 US GAAP Taxonomy. Read the impact study.
The FASB published a Proposed Taxonomy Implementation Guide, Extensible Lists: A Guide for Preparers, for a public comment period ending on September 21, 2020. The guide explains XBRL extensible lists which allow for the definition of concepts from a predefined list of values. The FASB is seeking comment from users on definitions for glossary terms […more]