FASB Proposes Taxonomy Improvements for Financial Instruments Standard

The Financial Accounting Foundation and FASB are responsible for the ongoing development and maintenance of the U.S. GAAP Financial Reporting Taxonomy. As a part of the ongoing development and maintenance of the taxonomy, proposed Accounting Standards Updates are reviewed to determine if updates to the taxonomy are needed to meet new or modified financial reporting requirements. The release notes describe proposed taxonomy improvements that will be required on finalization of the proposed Accounting Standards Update on financial instruments.

Related Links

• Notification (PDF)
• Release Notes (PDF)
• List of the Proposed Taxonomy Improvements (XLSX)
• All Proposed Taxonomy Improvements

Comment Due Date: December 26, 2018

Keywords: Americas, US, Accounting, Banking, Financial Instruments, Reporting, Taxonomy, IFRS 9, US GAAP, FASB