Earlier this month the European Commission adopted a package of simplifications to the EU ESG Taxonomy framework, designed to cut red tape and reduce administrative burden on companies.
How can large language models (LLMs) improve the way we work with XBRL taxonomies? In her latest blog, XBRL International Guidance Manager Revathy Ramanan explores how AI-powered tools can support taxonomy authors and software vendors, improving taxonomy quality, clarity, and usability.
This article by XBRL International Guidance Manager Revathy Ramanan is based on her presentation at Data Amplified 2024. You can also watch the original video here. In previous blogs, I’ve explored how we can leverage large language models (LLMs) like ChatGPT to significantly facilitate and enhance the analysis of XBRL reports, including both numeric data and […]
The US Securities and Exchange Commission (SEC) has announced amendments to the EDGAR Filer Manual, set to take effect on 30 January following the deployment of EDGAR Release 24.4 on 16 December last year.
The Financial Accounting Standards Board (FASB) has released a proposed Accounting Standards Update (ASU) as part of its ongoing effort to enhance the FASB Accounting Standards Codification®. Published last week, the proposal aims to make targeted, incremental improvements to US Generally Accepted Accounting Principles (GAAP).
Taxonomy development can feel like a daunting task, but it doesn’t have to be. Last week, the team at XBRL International hosted a 30-minute webinar to share practical insights and guidance on getting it right.
Last week, we reported on the European Securities Markets Authority (ESMA)’s release of the 2024 taxonomy and conformance suite. We need to clarify the timeline for its entry into force and application. While the 2024 taxonomy is now available on the ESMA website, EU filers will need to hold off using it for a couple more weeks.
The Financial Accounting Standards Board (FASB) has published the 2025 GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and GAAP Employee Benefit Plan Taxonomy (EBPT), alongside the 2025 DQC Rules Taxonomy (DQCRT) and GAAP Meta Model Relationships Taxonomy (MMT). Together, these are referred to as the “FASB Taxonomies.”
The European Securities Markets Authority (ESMA) released on Wednesday its 2024 taxonomy and conformance suite. This release incorporates the Calc 1.1 specification into the requirements by way of the IFRS 2024 taxonomy, adopts the IFRS 2024 taxonomy and makes some minor changes to business rules.
The Federal Energy Regulatory Commission (FERC) has published draft updates to its XBRL taxonomies, validation rules, and rendering files for public comment. These updates, slated for implementation as Version 2025-04-01, will support several key FERC forms, including Forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 60, and 714.
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