The Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) have issued release notes describing the proposed technical improvements to the 2018 US GAAP Financial Reporting Taxonomy. The release notes address technical improvements to the 2018 taxonomy based on public comments, common reporting practices, improving utility, reducing inconsistencies and enhancing the intended uses […]
This is the seventh in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. In my latest paper, Data & Technology: How Information Is Consumed In The New Age, we take a deep dive into how structured data is being consumed and refute the claim by some that structured […]
A recent Chartered Financial Analyst (CFA) Institute survey indicates that segmented reporting information is critical to investors, yet disclosures need improving dramatically. Recent exchanges between investors and tech giants such as Amazon and Alphabet (aka Google) show the struggle: Amazon and Alphabet cloak the performance of important sections of their business such as Alexa, Amazon […]
In a recent update by the Financial Accounting Standards Board (FASB) to their Implementation Guide Series for the U.S GAAP Taxonomy, FASB staff have now issued a new proposed taxonomy guide for revenue from contracts with customers. The implementation guide provides examples to help users of the taxonomy understand how modeling, revenues and costs are […]
Did you miss the recent webinar on the new SEC Reporting Taxonomy? Not to worry! You can watch the recorded version of it here https://xbrl.us/events/20180501/. The webinar was hosted by both the SEC and FASB and addressed how issuers could take advantage of the guidance provided. The speakers were: • Louis Matherne, Chief of Taxonomy […]
Financial Accounting Standards Board (FASB) hosting a webinar on Tuesday, April 3, 2018 from 1:00 to 2:30 p.m. EDT. The agenda includes Update from Securities and Exchange Commission (SEC) staff Improvements to recently issued the 2018 GAAP Financial Reporting Taxonomy 2018 SEC Reporting Taxonomy (SRT) More information and registration details about the webinar on FASB website.
The SEC has now announced its preliminary 2018 reporting taxonomy following a formal public review of the proposal.
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 […]
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 […]
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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