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    FASB Issues Codification Update Pursuant to Issuance of SEC Final Rule

    July 26, 2019

    FASB published the Accounting Standards Update No. 2019-07 that amends various SEC paragraphs pursuant to the issuance of SEC Final Rule Releases No. 33-10532 on "Disclosure Update and Simplification" and Nos. 33-10231 and 33-10442 on "Investment Company Reporting Modernization." Certain miscellaneous updates to agree to the Electronic Code of Federal Regulations have been also incorporated. Additionally, the amendments in this update require improvements to the U.S. GAAP Financial Reporting Taxonomy; these improvements will be incorporated into the proposed 2020 Taxonomy and finalized as part of the annual release process.

    Related Link: Accounting Standards Update (PDF)

     

    Keywords: Americas, US, Banking, Securities, Accounting Standards Update, Disclosure, GAAP Taxonomy, Reporting, SEC, FASB

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