Are you interested in US reporting standards? The Financial Accounting Standards Board (FASB) has published an Invitation to Comment (ITC) seeking feedback on its future standard-setting agenda which is open for comment until 22 September 2021.
As we reported in March, filers to the US Securities and Exchange Commission (SEC) must now follow a number of rules from the XBRL US Data Quality Committee (DQC).
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.
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.’
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.
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.
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.
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.
Extensible lists are a powerful XBRL feature that allow the selection of concepts from a pre-defined list.
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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