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    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.


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

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