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    FASB Proposes Taxonomy Improvements for Financial Instruments Standard

    November 27, 2018

    FASB proposed taxonomy improvements for the Accounting Standards Update on financial instruments. The comment period for the proposed taxonomy improvements ends on December 26, 2018.

    The Financial Accounting Foundation and FASB are responsible for the ongoing development and maintenance of the U.S. GAAP Financial Reporting Taxonomy. As a part of the ongoing development and maintenance of the taxonomy, proposed Accounting Standards Updates are reviewed to determine if updates to the taxonomy are needed to meet new or modified financial reporting requirements. The release notes describe proposed taxonomy improvements that will be required on finalization of the proposed Accounting Standards Update on financial instruments.

     

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    Comment Due Date: December 26, 2018

    Keywords: Americas, US, Accounting, Banking, Financial Instruments, Reporting, Taxonomy, IFRS 9, US GAAP, FASB

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