FASB has incorporated additional entry points for the 2019 GAAP [Generally Accepted Accounting Principles] Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy, in connection with the issuance of the 2019 Document and Entity Information (DEI) Taxonomy by SEC. Additionally, FASB has proposed taxonomy improvements for the proposed Accounting Standards Update on disclosure improvements, in form of the codification amendments in response to the Disclosure Update and Simplification Initiative of SEC. The consultation on the taxonomy improvements related to the proposed Accounting Standards Updates ends on June 28, 2019.
SEC issued the 2019 DEI as a result of the Fixing America’s Surface Transportation (FAST) Act Modernization and Simplification of Regulation S-K (Rule). New elements were added to the 2019 DEI Taxonomy to tag information on the cover pages of Forms 10-K, 10-Q, 8-K, 20-F, and 40-F in Inline XBRL. Questions about using the taxonomies and creating and submitting XBRL-tagged interactive data files in compliance with SEC rules should be directed to the SEC.
The 2019 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other improvements since the 2018 Taxonomy, as used by issuers filing with SEC. The 2019 SEC Reporting Taxonomy contains elements necessary to meet the SEC requirements for financial schedules, condensed consolidating financial information for guarantors, and disclosures about oil- and gas-producing activities. The SEC Reporting Taxonomy also includes dimensional elements whose underlying recognition and measurement are not specified by GAAP, but are elements commonly used by GAAP filers.
- Notification on Additional Taxonomy Entry Points (PDF)
- Notification on Proposed Taxonomy Improvements (PDF)
- 2019 US GAAP Financial Reporting Taxonomy
- 2019 SEC Reporting Taxonomy
- Release Notes on Proposed Taxonomy Improvements (PDF)
Comment Due Date: June 28, 2019 (Proposed Taxonomy Improvements
Keywords: Americas, US, Banking, Accounting, Securities, Reporting, Taxonomy, GAAP Taxonomy, SEC Reporting Taxonomy, DEI Taxonomy, XBRL, Accounting Standards Update, Disclosures, SEC, FASB
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