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.
The Financial Accounting Standards Board (FASB) published the final 2023 GAAP Financial Reporting Taxonomy (GRT) and 2023 SEC Reporting Taxonomy (SRT), pending acceptance by the Securities and Exchange Commission (SEC). FASB has also released the 2023 DQC Rules Taxonomy, the Data Quality Committee (DQC)’s validation rules, now published alongside the GAAP Taxonomy.
The US Financial Accounting Standards Board (FASB) has issued a call for comment on a proposed Taxonomy Implementation Guide based on the proposed 2023 GAAP Financial Reporting Taxonomy (pending SEC acceptance).
The US Financial Accounting Standards Board (FASB) has invited feedback on two updated drafts in the GAAP Taxonomy Implementation Guide series.
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.’
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 […]
We are in an era characterised by the explosive growth of new economies. New, rapidly expanding industries on the cutting edge of technology are increasingly the driving force of economic growth. Think Amazon, Apple, Tencent, Alphabet, Alibaba and Samsung. But how can the value of new economies best be recorded within financial statements? And should […]
Why do companies disclose “Non-GAAP” or “Proforma” earnings and performance measures? Is it because accounting standards don’t provide a suitable way to measure and understand corporate business models? Is it because Non-GAAP measures better reflect economic reality, or, at least, the factors under the control of management? Perhaps not.
The Financial Accounting Standards Board (FASB) earlier this week announced that the 2019 GAAP Financial Reporting Taxonomy and 2019 SEC Reporting Taxonomy (SRT) are both available. The GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements. The 2019 SRT contains elements necessary to meet SEC requirements for financial schedules, condensed consolidating financial information for guarantors, […]
Our take on “alternative performance measures” (also known as non-GAAP)? Use them judiciously and not to mislead. XBRL can help.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
