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.
The International Financial Reporting Standards (IFRS) Foundation has issued its annual XBRL taxonomy updates for financial reporting, publishing the IFRS Accounting Taxonomy 2023 this week.
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”).
This week the US Securities and Exchange Commission (SEC) upgraded the EDGAR System to Release 23.1, which means that it now supports the various 2023 taxonomies.
The UK Financial Reporting Council (FRC) has re-released an updated version of the 2023 taxonomy suite following an issue.
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.
During a panel at Data Amplified Virtual 2022 Richard Bossen (AMANA) and Owen Jones (IFRS Foundation) and Stuart Rowan (XBRL International) tackled the current challenges – and suggested potential solutions – facing sustainability standard setters now.
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.
Filers based in the UK should be aware of a recent update from HM Revenue & Customs (HMRC) indicating that due to a technical problem, HMRC are unable to accept accounts tagged with the Financial Reporting Council 2022 Taxonomy.
Yesterday afternoon the UK’s securities regulator, the Financial Conduct Authority (FCA), published a consultation paper on its approach to the publication and maintenance of taxonomies relevant to filers with securities in UK markets.
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