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    FASB Proposes Taxonomy Implementation Guide for Debt Securities

    June 09, 2021

    FASB proposed Taxonomy Implementation Guide on debt securities, based on the 2021 U.S. Generally Accepted Accounting Principles (GAAP) Taxonomy. The purpose of this proposed guide is to demonstrate modeling for the reporting of debt securities, under the FASB Accounting Standards Codification Topic 320. The proposed guide includes new elements in the first example to accommodate common reporting practices in modeling disclosures of debt securities. The comment period ends on July 09, 2021.

    The examples included in the guide are not intended to encompass all of the potential modeling configurations or to dictate the appearance and structure of an entity’s extension taxonomy or disclosures in its financial statements. The examples are provided to help users of the GAAP Taxonomy understand how the modeling for debt securities is structured within the GAAP Taxonomy. The examples are based on the assumption that the entity meets the criteria for reporting debt securities under GAAP and/or SEC authoritative literature. In addition, the reported line items within the examples do not include all reporting requirements and represent only partial disclosures and statements for illustrative purposes.

     

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    Comment Due Date: July 09, 2021

    Keywords: Americas, US, Banking, Reporting, Disclosures, Topic 320, Financial Instruments, Taxonomy, Taxonomy Implementation Guide, US GAAP, FASB

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