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    FASB Proposes DQC Rules Reporting Taxonomy for 2022

    September 01, 2021

    The Financial Accounting Standards Board (FASB) proposed technical and other conforming improvements for 2022 SEC Reporting Taxonomy and the accompanying technical guide. The comment period on the proposed 2022 SEC Reporting Taxonomy and the accompanying technical guide ends on November 01, 2021. Additionally, FASB is consulting on XBRL US Data Quality Committee (DQC) Rules Taxonomy along with a technical guide. The guide provides technical details of the 2022 U.S. GAAP Financial Reporting Taxonomy and the DQC Rules Taxonomy. The comment period on the proposed DQC Rules Taxonomy and the accompanying technical guide ends on September 23, 2021.

    The proposed DQC Rules Taxonomy includes XBRL US DQC Rules with the GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy to improve exposure to, and compliance with, the XBRL US DQC rules. The proposed DQC Rules Taxonomy has been built on the 2021 Taxonomy because the 2022 Taxonomy is not yet available for use. The proposed 2022 DQC Rules Taxonomy covers the following key DQC Rules:

    • DQC 0005—Context Dates After Period End Date.
    • DQC 0006—DEI and Block Tag Date Contexts
    • DQC 0033—Document Period End Date Context
    • DQC 0036—Document Period End Date Context/Fact Value Check
    • DQC 0041—Axis with a Default Member that Differs from the Base Taxonomy
    • DQC 0043—Incorrect Calculation Weights in Operating Cash Flows
    • DQC 0044—Accrual Items used in Investing/Financing Cash flow Reconciliation
    • DQC 0060—Element Dependence for Specific Elements
    • DQC 0079—Extension Members
    • DQC 0015—Negative Values


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    Comment Due Date: November 01, 2021 (SEC )/September 23, 2021 (DQC)

    Keywords: Americas, US, Accounting, Banking, Securities, Reporting, Taxonomy, DQCRT, XBRL, US GAAP, Data Quality, FASB

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