The proposed 2017 U.S. Financial Reporting Taxonomy contains updates for accounting standards and other improvements since the 2016 Taxonomy as used by issuers filing with the U.S. Securities and Exchange Commission (SEC). Interested parties are encouraged to review and provide feedback on the Proposed 2017 Taxonomy. The 60-day comment period ends October 31, 2016, and is intended to solicit feedback on these updates from users of the Taxonomy and to provide SEC filers, service providers, software vendors, and other interested parties the opportunity to become familiar with and suggest revisions to the Taxonomy.
The Financial Accounting Standards Board (FASB) will hold a webcast on October 4 to discuss the 2017 GAAP Financial Reporting Taxonomy Release for recently issued FASB Accounting Standards Updates and other significant changes. In addition, the webcast will include an update from the SEC staff.