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]


Proposed Updates to 2020 US GAAP Financial Reporting Taxonomy

The Financial Accounting Standards Board (FASB) has published the following Proposed Accounting Standards Updates for public comment: Proposed Accounting Standards Update (Revised)—Debt (Topic 470)—Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent) (Revision of Exposure Draft Issued January 10, 2017). The proposed taxonomy improvements added elements for disclosures of debt in […more]


FASB Taxonomy – Call for Comment

Monday, September 9, 2019 - Friday, November 8, 2019
Proposed Taxonomy Improvements for Proposed Accounting Standards Update Comment Period hosted by FASB
Release notes 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]


Proposed Updates to 2020 US GAAP Financial Reporting Taxonomy

The Financial Accounting Standards Board (FASB) has published the following Proposed Accounting Standards Updates for public comment: 1) Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 and the related release notes. The proposed taxonomy improvements include adding an […more]


FASB Chair Golden to Keynote Investor Forum 2019: Driving Actionable Analytics, Nov 4, New York

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


FASB Taxonomy – Calls for Comment

Thursday, May 23, 2019 - Friday, June 28, 2019
Proposed Taxonomy Improvements for Proposed Accounting Standards Update Public Review hosted by FASB
Disclosure Update and Simplification Initiative

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 Taxonomy Improvements for a Proposed Accounting Standards […more]


FASB Taxonomy – Call for Comment: Income Taxes (Topic 740)

Tuesday, April 30 - Friday, May 31, 2019
Proposed Taxonomy Improvements for Proposed Accounting Standards Update Public Review hosted by FASB
Income Taxes (Topic 740)

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 Taxonomy Improvements for a Proposed Accounting Standards […more]


FASB FAQ updated for 2019 US GAAP

The Financial Accounting Standards Board (FASB) Staff recently issued an update to the Frequently Asked Questions about the U.S. GAAP Financial Reporting Taxonomy (FAQ) to include new guidance for preparers on addressing the deprecation of the “Report Date [Axis]” (CreationDateAxis) with the 2019 Taxonomy Update. The FAQ is available on the FASB website.