General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
September 13, 2018

FASB published proposed technical and other conforming improvements for the 2019 US GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. The comment period taxonomies ends on October 13, 2018.

These release notes for the 2019 US GAAP Financial Reporting Taxonomy describe the proposed taxonomy technical and other conforming improvements to the 2018 Taxonomy that were made to address public comments; common reporting practices; projects designed to improve the utility of the Taxonomy; migration of certain elements from the Taxonomy to the SEC Reporting Taxonomy; elements related to prior Accounting Standards Updates that were retained for transition purposes; and recommendations from the industry resource groups. These improvements are designed to reduce inconsistencies in application and enhance the intended use of the elements, while minimizing the effect on instance documents prepared using prior versions of the Taxonomy and the effect on users and systems that consume these instance documents.

The proposed 2019 SEC Reporting Taxonomy contains elements moved from the 2018 Taxonomy, for elements in which the underlying recognition and measurement are not specified by GAAP and elements that are only referenced to SEC literature. The SEC Reporting Taxonomy elements whose underlying recognition and measurement are not specified by GAAP include dimensional elements such as "Scenario [Axis]” and its members "Forecast [Member]" and "Pro Forma [Member]." All of the elements in the SEC Taxonomy continue to be available for use by GAAP filers but will have a different namespace than in the 2018 Taxonomy.

 

Related Links

Comment Due Date: October 13, 2018

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

Related Insights
News

EBA Finalizes Guidelines on the STS Criteria in Securitization

EBA published the final guidelines that provide a harmonized interpretation of the criteria for a securitization to be eligible as simple, transparent, and standardized (STS) on a cross-sectoral basis throughout EU.

December 12, 2018 WebPage Regulatory News
News

OSFI Sets Domestic Stability Buffer for D-SIBs at 1.75%

OSFI set the level for the Domestic Stability Buffer at 1.75% of total risk-weighted assets, as calculated under the Capital Adequacy Requirements (CAR) Guideline.

December 12, 2018 WebPage Regulatory News
News

FSI Publishes Paper on Proportionality in Insurance Solvency Rules

FSI published a paper on proportionality in the application of insurance solvency requirements.

December 11, 2018 WebPage Regulatory News
News

BCBS Updates Framework for Pillar 3 Disclosure Requirements

BCBS published the updated framework for Pillar 3 disclosure requirements.

December 11, 2018 WebPage Regulatory News
News

EBA Issues Revised List of Validation Rules for Reporting

EBA revised the list of validation rules in its implementing technical standards on supervisory reporting.

December 11, 2018 WebPage Regulatory News
News

IMF Reports Assess the Stability of Financial System in Brazil

IMF published a report on the results of the Financial System Stability Assessment (FSSA) on Brazil.

December 11, 2018 WebPage Regulatory News
News

FED Governor Examines Pros of Imposing Capital Buffers on Large Banks

At the Peterson Institute for International Economics in Washington D.C., the FED Governor Lael Brainard summarized the financial stability outlook, highlighted areas where financial imbalances seem to be building, and touched on the related policy implications.

December 07, 2018 WebPage Regulatory News
News

US Agencies Propose Rule on Appraisals for Real Estate Transactions

US Agencies (FDIC, FED, and OCC) proposed a rule to increase the threshold level at or below which appraisals would not be required for the residential real estate transactions from USD 250,000 to USD 400,000. Comments will be accepted for 60 days from publication in the Federal Register.

December 07, 2018 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for December 2018

This week one answer was published as part of the Single Rulebook Questions and Answers (Q&A).

December 07, 2018 WebPage Regulatory News
News

FED Updates Reporting Form and Instructions for FR Y-14Q

FED published the updated reporting form FR Y-14Q for Capital Assessment and Stress Testing, along with the associated instructions.

December 06, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2325