The Financial Accounting Standards Board (FASB) announced proposed improvements to the taxonomy for Accounting Standards Updates (ASU) that were finalized between December 1, 2025, and December 31, 2025. These proposed improvements for this ASU were not part of the 2026 annual release that is pending SEC acceptance but they will be incorporated into the Development Taxonomy.
The FASB is making the proposed improvements to the taxonomy available for public comments through this link. Guidelines for providing comments on the taxonomies can be found here.
Filers wishing to adopt amendments from this ASU can find elements added for the ASU in the Development Taxonomy and create extensions based on those elements until such elements are accepted by the SEC as part of the 2027 Taxonomies Annual Release.
