Featured Product

    FASB Proposes SEC Reporting Taxonomy and DQC Rules Reporting Taxonomy

    September 06, 2022

    The Financial Accounting Standards Board (FASB) proposed technical and other conforming improvements for 2022 SEC Reporting Taxonomy. The comment period on the proposed 2022 SEC Reporting Taxonomy ends on November 01, 2022. Additionally, FASB is consulting on XBRL US Data Quality Committee (DQC) Rules Taxonomy. The comment period on the proposed DQC Rules Taxonomy ends on October 06, 2022.

    The proposed DQC Rules Taxonomy includes XBRL US DQC Rules with the GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy to improve exposure to, and compliance with, the XBRL US DQC rules. The proposed 2023 DQC Rules Taxonomy would add the following DQC Rules:

    • DQC 0013: Negative Values with Dependence
    • DQC 0015: Negative Values
    • DQC 0047: Calculation Descendants with No Balance Type
    • DQC 0053: Excluded Members from an Axis
    • DQC 0057: Cash Flow Opening and Closing Balances
    • DQC 0071: Revenue/Cost Single Member
    • DQC 0073: Plan Asset Categories Permissible Line Items
    • DQC 0084: Durational Aggregation

    Additional proposed improvements have been made for DQC 0015: Negative Values. The exposure includes only rules that are proposed to be added or improved to the 2023 DQC Rules Taxonomy. In addition, FASB issued revised release notes for the 2022 Q3 Supplemental GAAP Taxonomy that was accepted by the U.S. Securities and Exchange Commission (SEC) on August 16, 2022. The release notes and the Excel file contain the presentation relationships and label and reference link base information. The Excel file that also is included in the release notes has been revised to include a tab that contains references to the new elements added in the 2022 Q3 Supplemental GAAP Taxonomy.

     

    Related Links

     

     

    Keywords: Americas, US, Accounting, Banking, Securities, Reporting, Taxonomy, DQCRT, XBRL, US GAAP, Data Quality, Supplemental GAAP Taxonomy, SEC, FASB

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8596