On 17 July, the Financial Accounting Standards Board (FASB) staff released proposed GAAP Taxonomy Improvements for Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606).
EFRAG has launched a newly designed website as of 24 July, enhancing user experience and accessibility. This platform now offers streamlined navigation, making it easier for stakeholders to access essential resources and updates.
The Agenzia per l’Italia Digitale (Agency for Digital Italy) recently published XBRL taxonomies for the submission of financial statements by smaller mutual guarantee institutions, or Confidi minori.
The US Securities and Exchange Commission (SEC) has released an update to the EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system which introduces support for the Filing Fee Disclosure (FFD) taxonomy, allowing Inline XBRL tagging for disclosures related to filing fees.
The European Banking Authority (EBA) published the technical package for phase 2 of version 3.3 of its reporting framework. The technical package provides standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for this phase of version 3.3.
System so that it now supports the 2018 IFRS Taxonomy. EDGAR Update 18.2 also signals the point at which a range of previous taxonomies are phased out. Companies are encouraged to use the most recent version of taxonomy releases for their XBRL exhibits in order to take advantage of the most up-to-date tags related to […]
Some ideas to make Asia a Fintech/Regtech/Suptech powerhouse, following the recent XBRL Asia Round Table meeting in Japan.
What is an XBRL taxonomy? XBRL taxonomies are dictionaries for reporting. They provide digital definitions for business concepts and make digital reporting possible. Digital reports work by ‘tagging’ each reported fact so that it can be identified by computer software. For example, the tag “ProfitLoss” might be used for net earnings, and “EnergyConsumed” could indicate […]
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