The Financial Accounting Standards Board (FASB) issued release notes describing the proposed policy election element relationships that will be provided in the GAAP Taxonomy. The goal is to provide relationships in the taxonomy to assist preparers to identify policy elements for consumption of the data, and to write business rules that assist with proper element selection and identification of policies elected. The release notes are out for a public comment period which ends on November 4, 2022.
Read the Announcement with information on how to submit comments:FASB Staff Issues Release Notes for Proposed Policy Election Element Relationships (October 5 2022) (002)
Read the Release Notes.
