FASB Announces Availability of 2016 GAAP Financial Reporting Taxonomy Pending SEC Acceptance

Posted on Thursday, December 17, 2015

The Financial Accounting Standards Board (FASB) today announced the availability of the 2016 GAAP Financial Reporting Taxonomy (Taxonomy) pending final acceptance by the U.S. Securities and Exchange Commission (SEC).

The FASB staff is responsible for the ongoing development and maintenance of the Taxonomy applicable to public issuers registered with the SEC. The GAAP Financial Reporting Taxonomy contains updates for accounting standards and other improvements to the official Taxonomy previously in use by SEC issuers.

Review the Taxonomy