January, 2024

California Senate Bill 253 mandates GHG emissions reporting by companies doing business in the state. The Climate Corporate Data Accountability Act (SB 253) requires companies with revenue of $1 million or more to report GHG emissions, scopes 1, 2, and 3. While the legislation does not call for structured data reporting, it provides more evidence of an interest in sustainability data. Separately, the SEC final rule on climate disclosure may be published in the first half of this year.

SEC EDGAR now supports Filing Fee Disclosure (FFD) Taxonomy. The Securities and Exchange Commission (SEC) published interim release 24.0.1 of the EDGAR System on January 26 which now supports the Filing Fee Disclosure (FFD) taxonomy. This taxonomy provides the elements for tagging disclosures related to the Commission’s final rule on filing fee disclosures using Inline eXtensible Business Reporting Language (XBRL). See taxonomies.

SEC final rule for Special Purpose Acquisition Companies (SPACs), Shell Companies, and Projections, adopted with Inline XBRL requirements. The SEC announced that they are adopting the final rule for Special Purpose Acquisition Companies, Shell Companies, and Projections, which calls for Inline XBRL tagging for information in Subpart 1600 of Regulation S-K. In the XBRL US comment letter submitted in response to this rule in the proposal stage, we suggested that the Commission consider giving smaller entities a phase-in period given more limited resources. In the final rule, the Commission has adopted a one-year phase-in for the tagging portion of the new requirements for all issuers. Read Chair Gensler’s statement on the rule.

FASB seeks comment on proposed Taxonomy Implementation Guides. The Financial Accounting Standards Board (FASB) issued for public comment two proposed Taxonomy Implementation Guides which were made available in December 2023 pending SEC acceptance. The first proposed Guide, Leases under Topic 842, includes a new example that illustrates the modeling for disclosures reporting information about leases not yet commenced. The second proposed Guide, Financial Services—Investment Companies (Including SEC S-X Schedules for Business Development Companies), includes a new example that illustrates the modeling for the disclosure of financial support that an investment company is contractually required to provide to its investors but has not yet provided.

The comment period ends on February 19, 2024. Send comments to xbrled@fasb.org

Read announcement with more details on comment submission: FASB Proposed Guides on Leases and Investment Companies

Event Replays & Upcoming Meetings

Webinar Replay: FDTA Impact on Municipal Bond Investors
The Financial Data Transparency Act (FDTA) calls for disclosures from municipal bond issuers to be made available to investors and other data users in machine-readable, structured format. Attend this 60-minute discussion with municipal bond investors for their views on what data they use, what kind of issuers they follow, and how access to digitized municipal bond issuer data could change how they work. Learn about their thoughts on the technology impact of data standards on the municipal marketplace.


  • Barnet Sherman, Senior Managing Partner, Tenbar Capital
  • Jamie Richardson, Managing Director of Research, Municipals, Fidelity Investments
  • Triet M. Nguyen, Vice President, Strategic Data Operations, DPC DATA
  • Justin Land, CEO, AG Analytics LLC

Watch and listen to replay: https://xbrl.us/replay

XBRL US Member Meetings

The Domain Steering Committee will meet Tuesday, February 20, at 2 PM ET. https://xbrl.us/events/dsc-240220/ – all XBRL US Members are invited to attend

The Communications Steering Committee will meet Tuesday, February 20, at 3 PM ET. https://xbrl.us/events/csc-240220/ – all XBRL US Members are invited to attend

The Regulatory Modernization Working Group will meet Tuesday, February 13, at 3 PM ET. (membership@xbrl.us for details)

The XBRL US Standard Government Reporting Working Group will meet Tuesday, February 27, at 12:30 ET. (membership@xbrl.us for details)

The XBRL US Technical Advisory Committee (XTAC) will meet on Wednesday, February 14, at 4 PM ET. (membership@xbrl.us for details)

The next meeting of the Academic Subcommittee will meet on Monday, February 12, at 1 PM ET. (membership@xbrl.us for details)

XBRL US Members are encouraged to attend and get involved.

XBRL US Articles, White Papers, and Blogs

Blog Post: Ten tips & techniques for using the XBRL API.
David Tauriello, Vice President of Operations, XBRL US provides ten great ideas on how to improve your own productivity when working with the XBRL API. If you’re interested in accessing lots of highly granular, timely financial fundamental data, be sure to read this blog.

Blog Post: Good communication makes good neighbors.
Christine Kuglin, JD, LLM, CPA, Director – Truth in Accounting – Daniels College of Business, University of Denver, explains how increased transparency and better communication will help both government managers and residents. Read this post.

XBRL US Members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain.

Not yet an XBRL US member? Maybe it’s time to consider joining XBRL US for yourself ($55 – $500/ year) or your organization (fees vary). Find out more about the benefits of membership and how to become involved by visiting https://xbrl.us/benefits.