SEC Accepts 2019 GAAP Reporting Taxonomy and SEC Reporting Taxonomy

By Regulatory News

March 12, 2019

Regulatory Reporting: EU, Financial Reporting and Accounting

FASB announced that SEC has accepted the 2019 U.S. GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. For the 2019 taxonomy updates, some elements included in the 2018 GAAP Financial Reporting Taxonomy have been relocated to the 2019 SEC Reporting Taxonomy. 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. FASB specifies that questions about using the taxonomies and creating and submitting the XBRL tagged interactive data files in compliance with SEC rules should be directed to SEC.

Related Links

Keywords: Americas, US, Accounting, Reporting, Taxonomy, GAAP Taxonomy, SEC Reporting Taxonomy, FASB, SEC

Featured Experts

IMF Report Discusses Measures to Address Issue of NPEs in Greece


News BCBS Consults on Revised Disclosures for Market Risk Framework BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks. November 14, 2019 WebPage Regulatory News
News FSB Examines Implementation of Resolution Regimes in Financial Sector FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work. November 14, 2019 WebPage Regulatory News
News PRA Publishes Final Policy on Maintenance of TMTP Under Solvency II PRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II. November 14, 2019 WebPage Regulatory News
News BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks. November 14, 2019 WebPage Regulatory News
News IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic Risk IAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability. November 14, 2019 WebPage Regulatory News
News PRA Publishes Templates for Statistical Disclosures Under Solvency II PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive. November 14, 2019 WebPage Regulatory News
News FASB Proposes Improvements to Derivatives and Hedging Standard FASB proposed an Accounting Standards Update, on codification improvements to hedge accounting under Topic 815, to clarify certain sections of the 2017 hedge accounting standard (Update 2017-12). November 13, 2019 WebPage Regulatory News
News FASB Approves Guidance to Assist in Transition to New Reference Rates FASB approved an Accounting Standards Update (Topic 848) to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the reference rate reform on financial reporting. November 13, 2019 WebPage Regulatory News
News BIS and MAS Launch Innovation Hub in Singapore BIS and MAS launched the BIS Innovation Hub Center in Singapore. November 13, 2019 WebPage Regulatory News
News MAS and Industry to Create Framework for Adoption of Responsible AIDA MAS announced that it is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA). November 13, 2019 WebPage Regulatory News

RESULTS 1 - 10 OF 4142