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Items tagged with "FASB"

FASB fact sheet brings XBRL into focus

The US Financial Accounting Standards Board (FASB) has produced a new fact sheet in its ‘FASB in Focus’ series, titled ‘XBRL: What is it? Why the FASB? Who uses it?.’ It’s a great introduction to XBRL and digital reporting, particularly from the US perspective.

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SEC adopts FASB’s 2021 XBRL taxonomies

In another annual taxonomy refresh, the US Financial Accounting Standards Board (FASB) has confirmed that the Securities and Exchange Commission (SEC) has approved its 2021 GAAP Financial Reporting Taxonomy (GRT) and 2021 SEC Reporting Taxonomy (SRT), together known as the ‘US GAAP Taxonomy.’

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FASB consults on XBRL improvements for business combinations

In the US, the Financial Accounting Standards Board is seeking feedback on its proposed Accounting Standards Update (ASU) on ‘Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers’ – and specifically on attendant amendments to the US GAAP Financial Reporting Taxonomy.

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2021 XBRL taxonomies available from FASB

In case you missed it (oops – we did!), in December the US Financial Accounting Standards Board (FASB) released its updated taxonomies for the coming year.

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FASB delays Insurance Standards update

Following similar moves from the IASB, the Financial Accounting Standards Board has issued an update designed to help alleviate the burden on companies affected by Covid-19.

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FASB publishes Extensible Lists guidance for vendors

You may recall from the newsletter last week the announcement of the Recommended Extensible Enumerations 2.0 specification – which powers extensible lists within XBRL reports – being implemented by the Financial Accounting Standards Board (FASB) for use with SEC filings from 2021.

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FASB publish draft Guide to Extensible Lists

Extensible lists are a powerful XBRL feature that allow the selection of concepts from a pre-defined list.

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XBRL US Data Quality Checks Now Available inside FASB Taxonomy

The Financial Accounting Standards Board (FASB) has incorporated the DQC validation rule documentation into the 2020 release of the US GAAP Financial Reporting Taxonomy. The validation rules, developed by the XBRL US Data Quality Committee (DQC), are used by filers to check the accuracy of their data before they submit it to the SEC. This […]

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FASB Finalises 2020 Taxonomies

At the end of last year the Financial Accounting Standards Board (FASB) announced the release of the updated 2020 GAAP Taxonomy, 2020 SEC Taxonomy and the XBRL US DQC (Data Quality Commission) Rules Taxonomy. The GAAP Taxonomy and SEC Taxonomy are expected to be accepted as final by the SEC in early 2020. They are […]

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FASB Issue 2020 Draft Taxonomy Release Notes

 The Financial Accounting Standards Board (FASB) has issued proposed taxonomy updates and improvements for 2020. Stakeholders are invited to comment on the proposed changes, with the deadline for comments being 3 January 2020. The proposed changes are pending SEC acceptance of the 2020 FASB US GAAP Financial Reporting Taxonomy. Read more and access the release […]

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