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?
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]
Attend this one-hour session for a review of tools available from the FASB and XBRL US to aid filers in XBRL preparation.
At this meeting, industry leaders will participate in discussions and plans for developing guidance and rules for use by public companies complying with the XBRL requirements of the US Securities and Exchange Commission. Learn about the Data Quality Committee.
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]
The FASB approach to incorporating new ASUs into XBRL data standards.
Building a taxonomy is a team effort. Found out how the US GAAP Taxonomy was developed, and how it’s maintained today.
Attend this one-hour session for a review of the latest DQC Rulesets 11, plus a discussion of the impact of errors on SEC filers.
The Data Quality Committee released version 11 of freely-available rules and guidance in February. These 53 rules are automated checks that help filers using US GAAP and IFRS Taxonomies supported by the US Securities and Exchange Commission detect and resolve inconsistencies or errors in XBRL-formatted financial data.