Media

Wednesday, August 7, 2024

FASB RFC on Proposed Taxonomy Implementation Guide, Income Taxes

The Financial Accounting Standards Board (FASB) has issued a Proposed Taxonomy Implementation Guide, Income Taxes (Topic 740), which is based on the 2024 GAAP Financial Reporting Taxonomy. The proposed Guide demonstrates the modeling for the reporting of income taxes under FASB Accounting Standards Codification® Topic 740. Interested parties may submit comments on the proposed Guide on […more]

Tuesday, August 6, 2024

Carbon Accountable’s CA SB 253: A Regulations Roadmap, Recommends Inline XBRL

Carbon Accountable, a climate data policy initiative focused on corporate transparency in greenhouse gas (GHG) emissions reporting, published the paper CA SB 253: A Regulations Roadmap which aims to demonstrate the feasability of adopting regulations and implementing SB 253 expeditiously. The Climate Corporate Data Accountability Act (SB 253) was signed into law in 2023. It […more]

Thursday, August 1, 2024

FASB RFC on Proposed Taxonomy Improvements

The Financial Accounting Standards Board published proposed GAAP Taxonomy Improvements for public exposure periods and has requested comment as follows: The FASB recently re-exposed for comment Proposed GAAP Taxonomy Improvements for Proposed Accounting Standards Update—Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The Taxonomy Staff is interested in feedback on […more]

FDTA Agencies Publish Proposed Rule

The rule proposal for the Financial Data Transparency Act (FDTA) has been published on the websites of  the FDIC, the Consumer Financial Protection Bureau (CFPB), the Commodities Future Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Federal Housing Finance Agency (FHFA) , the Securities Exchange Commission (SEC), and the Federal Reserve. Securities and […more]

Tuesday, July 16, 2024

XBRL US Comments on Dept of Commerce RFI: AI and Open Govt Data Assets

XBRL US responded to the Department of Commerce Request for Information on AI and Open Government Data Assets. The XBRL US letter stated, “We agree with the Department of Commerce view that AI systems should be powered by data that is not just machine-readable and accessible, but that is ‘machine-understandable’. Artificial intelligence has enormous potential […more]

Monday, July 1, 2024

SEC Publishes Semi-Annual Report to Congress, June 2024

The Securities and Exchange Commission (SEC) has published its Semi-Annual Report to Congress for June 2024. New information since the last report includes additional Commission rulemaking releases adopting structured data tagging requirements; the setting aside of the SEC Share Repurchase rule that had structured data tagging requirements; and updated statistics in the analysis of the […more]

Friday, June 28, 2024

SEC Custom Tag Rate Analysis Shows Decline for All Except Accelerated Filers

The Securities and Exchange Commission (SEC) published an analysis of custom tag rates which found that Forms 10-K and 10-K/A shows a decrease in average custom tag rate for filings in 2023 compared to 2022 across all filer status except the accelerated filer category, for which the rate remains flat. Read the full analysis.

SEC EDGAR System Upgraded to Release 24.2

The Securities and Exchange Commission (SEC) upgraded the EDGAR system to Release 24.2 which now supports the IFRS Taxonomy 2024 and the Security-Based Swap (SBS) taxonomy. Please see notes below from the SEC related to this release: The 2024 version of the IFRS taxonomy reflects the same taxonomy version that the International Accounting Standards Board made […more]

Wednesday, June 26, 2024

SEC Publishes Final Swaps Based Securities (SBS) Taxonomy

The Securities and Exchange Commission (SEC) published the final Swaps Based Securities (SBS) Taxonomy which can be found here. The Commission also published illustrative sample documents in advance of the EDGAR 24.2 release, which will incorporate the final SBS taxonomy into EDGAR.

Tuesday, June 25, 2024

SEC Announces Draft Cybersecurity Disclosure Taxonomy Published

The Securities and Exchange Commission (SEC) announced that they had published the draft Cybersecurity Disclosure (CYD) taxonomy to support the final rule, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. Taxonomy files are included here. Comments on this taxonomy are due by August 23, 2024.