FASB issued a proposed GAAP Financial Reporting Taxonomy Implementation Guide on financing receivables and current expected credit loss (CECL) disclosures, the comment period for which ends on November 05, 2018. FASB also proposed taxonomy improvements for Proposed Accounting Standards Update—Debt (Topic 470) on simplifying the classification of debt in a classified balance sheet (current versus non-current). The comment period for the proposed Taxonomy improvements for classification of debt ends on November 12, 2018.
The proposed guide (Taxonomy Version 2019) on financing receivables and CECL disclosures provides examples to help users of the taxonomy understand how the modeling for disclosures related to financing receivables and credit losses is structured within the taxonomy. The purpose of the Taxonomy Implementation Guide is to demonstrate the dimensional modeling for disclosures related to financing receivables. These examples are not intended to encompass all of the potential modeling configurations or to dictate the appearance and structure of an entity’s extension taxonomy. However, the reported line items within the examples do not include all reporting requirements and represent only partial disclosures and statements for illustration purposes. Changes from the 2017 version of this Implementation Guide have been included in Appendix A to the Guide.
- Proposed Taxonomy Implementing for CECL Disclosures (PDF)
- Proposed Taxonomy Improvements on Topic 470 (PDF)
Comment Due Date: November 05, 2018 (CECL); November 12, 2018 (Topic 470)
Keywords: Americas, US, Accounting, Banking, CECL, Disclosures, Taxonomy, Topic 470, Accounting Standards Update, FASB
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