Posted on Thursday, February 16, 2023

The Financial Accounting Standards Board (FASB) published a proposed GAAP Taxonomy Style Guide, Reference Style Guide (Style Guide) to help in analyzing the presentation and disclosure requirements of the FASB Accounting Standards Codification (ASC) to determine the appropriate role and format of the reference related to elements included in the GAAP Financial Reporting Taxonomy (GRT) and the SEC Reporting Taxonomy (SRT) (collectively referred to as the “GAAP Taxonomy”) for existing requirements and amendments to the ASC in an Accounting Standards Update. It is also intended to serve as a reference for users of the GAAP Taxonomy to understand how reference roles are assigned to element’s references and to illustrate the format of those references. The comment period ends on March 17, 2023. Questions or comments on this Style Guide should be emailed to

The FASB staff also recently issued an update to the GAAP Frequently Asked Questions (FAQ) to include new guidance (Question 2.20) for disclosing how to tag the value of the useful lives of leasehold improvements related to property plant and equipment when stated as lease terms. The FAQ is available at this link.

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