2020 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.
DQC Rules are now available in the FASB US GAAP Taxonomy. Shouldn’t every SEC filer use them?
DQC Rules are now available in the FASB US GAAP Taxonomy. Shouldn’t every SEC filer use them?
XBRL Data Quality Checks Available in FASB US GAAP Financial Reporting Taxonomy
XBRL US announced today that the Financial Accounting Standards Board (FASB) has incorporated freely available validation rules into the 2020 release of the US GAAP Financial Reporting Taxonomy. The rules, developed by the XBRL US Data Quality Committee (DQC) are used by public company filers to identify and resolve errors in their XBRL financials prior […more]
Call for Comment on Proposed Taxonomy Implementation Guides
FASB Staff Issues a Proposed Taxonomy Implementation Guide on Leases under Topic 842 and a Proposed Taxonomy Implementation Guide on Revenue from Contracts with Customers under Topic 606 for Comment Leases under Topic 842, includes new examples that highlight the reporting of right-of-use assets in a classified statement of financial position and an unclassified statement […more]
Harmonizing accounting and data standards
The FASB approach to incorporating new ASUs into XBRL data standards.
Building a taxonomy is a team effort
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
FASB Chairman Russ Golden to keynote XBRL US Investor Forum.
Topics to be covered include blockchain, artificial intelligence, new reporting domains like municipal securities reporting, and more.
FASB 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 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]
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]
