Featured Product

    FASB Proposes GAAP Financial Reporting and Shared Reporting Taxonomy

    September 05, 2017

    FASB released the proposed 2018 Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy and the proposed 2018 Shared Reporting Taxonomy (SRT) for public review and comment. The deadline to submit written comments for both documents is October 31, 2017. The taxonomies are expected to be accepted as final by the SEC in early 2018.

    The proposed 2018 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements since the 2017 Taxonomy, as used by issuers filing with the SEC. The proposed 2018 SRT contains elements of the GAAP Financial Reporting Taxonomy needed by International Financial Reporting Standards (IFRS) filers for SEC-specific disclosure requirements; it will eliminate the need for these filers to import the GAAP Financial Reporting Taxonomy. The proposed 2018 SRT contains elements to meet SEC requirements for financial schedules required by the SEC, condensed consolidating financial information for guarantors, and disclosures about oil and gas producing activities. The SRT also includes dimensional elements that have broad applicability to financial reporting requirements. 

     

    Related Links

    Proposed 2018 GAAP Financial Reporting Taxonomy

    Proposed 2018 SRT 

    Comment Due Date: October 31, 2017

    Keywords: Americas, United States of America, Accounting, GAAP, Taxonomy, SRT, SEC, Reporting, FASB

    Featured Experts
    Related Articles
    News

    HKMA on Fintech Adoption and Innovation by Banks in Hong Kong

    HKMA announced the publication of a report on fintech adoption and innovation in the banking industry in Hong Kong.

    May 20, 2020 WebPage Regulatory News
    News

    BIS on Impact of Increasing Use of Cloud Technology on Cyber Risk

    BIS published a working paper that examines the drivers of cyber risk, especially in context of the cloud services.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Consults on Guide for Managing Climate and Environmental Risks

    ECB launched consultation on a guide specifying how the Banking Supervision expects banks to consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy.

    May 20, 2020 WebPage Regulatory News
    News

    ECB Issues Opinion on Revisions to CRR in Response to COVID Crisis

    ECB published an opinion (CON/2020/16) on amendments to the prudential framework in EU in response to the COVID-19 pandemic.

    May 20, 2020 WebPage Regulatory News
    News

    EBA Assesses Interlinkages Between Recovery and Resolution Planning

    EBA published a report that examines the interlinkages between recovery and resolution planning under the Bank Recovery and Resolution Directive (BRRD).

    May 20, 2020 WebPage Regulatory News
    News

    SRB Publishes Final MREL Policy Under the Banking Package

    SRB published the final Minimum Requirements for Own Funds and Eligible Liabilities (MREL) policy under the Banking Package.

    May 20, 2020 WebPage Regulatory News
    News

    US Agencies Amend Interim Final Rule on Transition Period for CECL

    US Agencies (FDIC, FED, and OCC) published a final rule that makes technical changes to the March 31, 2020 interim final rule that provides a five-year transition period for the impact of the current expected credit loss (CECL) methodology on regulatory capital.

    May 19, 2020 WebPage Regulatory News
    News

    ECB Releases Results of March Survey on Credit Terms and Conditions

    ECB published results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets.

    May 19, 2020 WebPage Regulatory News
    News

    FINMA Adjusts Deadlines for COVID-19 Relief Measures for Banks

    FINMA published guidance (06/2020) on extending or discontinuing various exemptions that were granted due to the COVID-19 crisis.

    May 19, 2020 WebPage Regulatory News
    News

    SRB Consults on Standardized Data Set for Bank Valuation in Resolution

    SRB launched a consultation on the minimum data needed for valuation of a bank in resolution.

    May 19, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5203