FASB proposes GAAP Taxonomy update
The US Financial Accounting Standards Board (FASB) has issued proposed improvements to the GAAP Taxonomy.
Items tagged with "FASB"
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FASB proposes updates to GAAP taxonomy
The Financial Accounting Standards Board (FASB) has laid out a set of proposed improvements to the US GAAP Taxonomy to take account of changes arising from amendments to the accounting treatment for purchased financial assets exhibiting credit losses.
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FASB publishes definition of a reporting entity
The Financial Accounting Standards Board (FASB) recently released a new chapter in its Conceptual Framework, dealing with the definition of a reporting entity.
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Fireside Chat on Digital Reporting
This week saw FASB Chair Rich Jones sit down with XBRL International Chair Wes Bricker at a FASB Webinar on Digital Reporting. Diving into data quality, Inline XBRL assurance, and the impact of AI on both digital reporting and the accounting profession, this was a wide ranging discussion.
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FASB proposes GAAP taxonomy improvements to enhance income tax disclosures transparency
The Financial Accounting Standards Board (FASB) recently proposed some improvements to the GAAP Taxonomy for Income Taxes (Topic 740). This is meant to make income tax disclosures more transparent and useful for decision-making.
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GAAP taxonomies approved by SEC
This week the US Securities and Exchange Commission (SEC) has accepted the 2023 GAAP Financial Reporting Taxonomy (GRT) and the 2023 SEC Reporting Taxonomy (SRT) (collectively referred to as the “GAAP Taxonomy”).
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AI use in financial data analysis
The US Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) are looking into the ways in which investors are using artificial intelligence (AI) to consume and analyse financial data.
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FASB publishes proposed GAAP taxonomy style guide
The US Financial Accounting Standards Board (FASB) staff recently published a new proposed GAAP Taxonomy Style Guide. The guide is designed to help GAAP Taxonomy users understand the presentation and disclosure requirements of the FASB Accounting Standards Codification (ASC), and to illustrate the role and format of references related to elements included in the GAAP Taxonomy.
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Access to US accounting standards improved
The US Financial Accounting Foundation (FAF) recently announced that the free viewer for the online version of its standards will be getting an upgrade to improve access for stakeholders.
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FASB seeks comments on proposed meta model relationships
The Financial Accounting Standards Board (FASB) Taxonomy recently published a proposal for meta model relationships, intended to convey base-level accounting model relationships in XBRL.
