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
Previous ArticleEC Publishes Draft Equivalence Decisions for Credit Rating Agencies
ECB finalized the guide on assessment methodology for the internal model method for calculating exposure to counterparty credit risk (CCR) and the advanced method for own funds requirements for credit valuation adjustment (A-CVA) risk.
EBA published an Opinion addressed to EC to raise awareness about the opportunity to clarify certain issues related to the definition of credit institution in the upcoming review of the Capital Requirements Directive and Regulation (CRD and CRR).
APRA is consulting on updates to ARS 210.0, the reporting standard that sets out requirements for provision of information on liquidity and funding of an authorized deposit-taking institution.
FED released hypothetical scenarios for a second round of stress tests for banks.
PRA published updates in relation to the 2021 Supervisory Benchmarking Portfolio exercise.
FED adopted a proposal to extend for three years, with revision, the capital assessments and stress testing reports (FR Y-14A/Q/M; OMB No. 7100-0341).
HKMA revised the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.