2021 US GAAP Financial and SEC Reporting Taxonomies

The 2021 GAAP Financial Reporting Taxonomy (GRT) contains updates for accounting standards, Data Quality Committee Rules and other improvements since the 2020 Taxonomy as used by issuers filing with the U.S. Securities and Exchange Commission (SEC).

FASB Webcast: IN FOCUS: 2021 GAAP & SEC Reporting Taxonomy Improvements & SEC Update

1PM ET Tuesday, April 6, 2021
Webinar hosted by FASB
Register to attend

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

Wednesday, October 27, 2020 - Tuesday, December 1, 2020
Proposed Taxonomy Improvements Comment Period hosted by FASB
Proposed DQCRT Taxonomy & Technical Guides

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

Tuesday, September 1 - Monday, November 2, 2020
Proposed Taxonomy Improvements Comment Period hosted by FASB
Release Notes (PDF)

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]

FASB Publishes Extensible Enumerations 2.0 Impact on Providers & Software

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.  

FASB Publishes Draft Guide on Extensible Lists

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]