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Items tagged with "FASB"

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SEC Proposed 2018 Reporting Taxonomy

The SEC has now announced its preliminary 2018 reporting taxonomy following a formal public review of the proposal.

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Conceptual Framework project discussed at the September 2017 World Accounting Standard-setters conference

Following on from last week’s story about IASB priorities, including in relation to digital reporting, this week standard-setters from around the world met for a workshop on the IFRS Conceptual Framework project. Delegates discussed the main concepts that will be included in the revised Conceptual Framework for Financial Reporting and were updated on the status and […]

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FASB asks for ideas to make GAAP taxonomy easier to use

As we mentioned last week, the FASB has issued an invitation to comment asking for input on ways to assess the efficiency and effectiveness of the US GAAP taxonomy. FASB’s invitation to comment provides detailed background and technical questions focused on how to make the taxonomy easier for users to navigate and how to improve […]

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US GAAP Taxonomy Under The Microscope

The US accounting standards setter, FASB, is seeking comments on the efficiency and effectiveness of the US GAAP taxonomy. With the FASB’s international counterpart, the IASB, having moved over the last year or so to more tightly integrate the process for the development and maintenance of its accounting standards with the concurrent development, maintenance and […]

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SEC adopts new taxonomies

It’s clearly a big week for taxonomy updates, with the US SEC also announcing that its EDGAR system has been updated to accept filings that conform to the 2017 US GAAP taxonomy that was published by the FASB in December. A number of other, more minor changes were made at the same time, as well […]

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CFA Institute: “Simplifying” Small Public Company Reporting Requirements Will Make it Harder to Invest in them

Allowing small US public companies to use “simplified” reporting standards available to private companies will make analysing and therefore investing in those firms harder…

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FASB Releases Proposed 2017 GAAP Financial Reporting Taxonomy

The Financial Accounting Standards Board (FASB) is seeking public review and comment on its proposed 2017 GAAP Financial Reporting Taxonomy. The deadline to submit written comments is 31 October 2016.

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XBRL Data Helps Close Off Balance Sheet Accounting Hole

FASB used SEC XBRL data from 2014 to identify over USD $1 trillion in undiscounted lease obligations that were being reported in footnotes. Read about the resulting guidance.

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A look ahead from the FASB

We like to keep you abreast of developments at the major accounting standards bodies. To that end, the Financial Accounting Standards Board (FASB), which sets accounting standards in the US and is responsible for the US GAAP Taxonomy, has released its outlook for 2016, including results of a stakeholder survey on its future agenda. One […]

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Comment on the 2016 US GAAP Taxonomy

The 2016 DRAFT US GAAP Taxonomy is available for comment. Deadline is 31 October.

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