The Financial Accounting Standards Board has released GAAP Taxonomy Improvements for two proposed Accounting Standards Updates, Interim Reporting (Topic 270): Narrow-Scope Improvements and Government Grants (Topic 832): Accounting for Government Grants by Business Entities. These proposed improvements are available for public review and comment. Continue reading "FASB Issues Proposed GAAP Taxonomy Improvements..." »

The SEC has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 72) to prepare issuers for potential updates to the EDGAR system scheduled to be introduced in EDGAR Release 24.4 on December 16, 2024. Continue reading "SEC Publishes Current Draft EDGAR Filer Manual" »

On November 15th, the SEC voted to approve new rules and amendments to enhance transparency requirements and provide additional investor protection in initial public offerings (IPOs) by special purpose acquisition companies (SPACs) and in future business combination transactions between SPACs and target companies (de-SPAC transactions). Continue reading "SEC Adopts New Rules to Increase Transparency..." »

On Wednesday, November 6th, XBRL US will present a webinar to familiarize issuers with the SEC’s rulemaking for public company cybersecurity disclosures, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, which was initially proposed in March 2022. The 60-minute virtual seminar will begin at 3:00 p.m. EDT. The event is free for the public to attend but registration is required. {expires: 2024-11-07} Continue reading "XBRL US to Host Webinar November 6th to Discuss..." »

On October 28th, The Financial Accounting Standards Board (FASB) released the proposed Taxonomy Implementation Guide, Boolean, Fixed List, and Extensible Enumeration Elements, which is based on the 2024 GAAP Financial Reporting Taxonomy. The proposed guide is intended to help issuers know when and how to use the Boolean, Fixed List, and Extensible Enumerations elements. The publication also gives an overview of appropriate use cases for these element types. Continue reading "FASB Proposes Taxonomy Implementation Guide for..." »

On October 28th, the Financial Accounting Standards Board (FASB) released proposed improvements for the 2025 US Generally Accepted Accounting Principles (GAAP) Employee Benefit Plan (EBP) taxonomy included in the 2025 GAAP Financial Reporting Taxonomy and the related release notes for public review and comment. The accompanying release notes detail the proposed technical and other conforming improvements for the 2025 EBP taxonomy. Continue reading "FASB Proposes Improvements for the 2025 GAAP..." »

Recently the Financial Accounting Standards Board (FASB) staff has issued proposed technical and other conforming improvements for the 2025 US Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy and the related release notes for public review and comment.

Continue reading "FASB Publishes Proposed Improvements for 2025..." »

XBRL US will present a webinar to familiarize issuers with the SEC’s rulemaking for public company cybersecurity disclosures, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, which was initially proposed in March 2022. The 60-minute virtual will take place on Wednesday, November 6, 2024, at 3:00 p.m. EDT. The event is free for the public to attend but registration is required. {expires: 2024-11-07} Continue reading "XBRL US to Host Webinar to Discuss SEC..." »

The SEC recently adopted rules to amend Form N-4, the form currently used by most variable annuity separate accounts. As part of these changes, the registration, filing, and data transparency requirements that were adopted for registered index-linked annuities (RILAs) offerings have been broadened to the offerings of registered market value adjustment annuities (registered MVA annuities). Now the new elements needed to tag this information have been included in the VIP taxonomy because RILAs and registered MVA annuities are insurance products whose offerings are registered on Form N-4. Continue reading "SEC Publishes Draft of Updated 2024 Variable..." »

On September 16, 2024, the SEC’s EDGAR system was upgraded to Release 24.3 and now supports the Cybersecurity Disclosure (CYD) taxonomy, which provides the elements for tagging required disclosures using Inline XBRL (a structured, machine-readable data language) in accordance with the related final rule. Continue reading "SEC Issues 2024 Cybersecurity Disclosure (CYD)..." »

On September 16th, the SEC released EDGAR Release 24.3, adopting amendments to Volume II of the EDGAR Filer Manual and related rules and forms. Continue reading "SEC Releases EDGAR 24.3" »

On September 5th, the Financial Accounting Standards Board (FASB) staff issued the Proposed 2025 Data Quality Committee Rules Taxonomy (DQCRT), which details XBRL US’ Data Quality Committee’s (DQC) validation rules for regulator use. Individuals and organizations may review and comment on the updates proposed in the DQCRT through October 7, 2024. Continue reading "FASB Releases Proposed 2025 DQCRT for Review..." »

XBRL US has announced that KPMG will host a conference to discuss the importance of transparency regarding digital data reporting for climate, business, and government. Presenters also will address the impact of digital requirements introduced by the Financial Data Transparency Act (FDTA) and a number of climate rules under which reporting entities must be in compliance with digital data standards by preparing submissions in Inline XBRL, a structured, machine-readable format that meets these disclosure requirements. Continue reading "XBRL US Opens Registration for November..." »

The SEC has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 71) to prepare issuers for potential updates to the EDGAR system scheduled to be introduced in EDGAR Release 24.3 on September 16, 2024. Continue reading "SEC Releases Current Draft EDGAR Filer Manual" »

Carbon Accountable, a climate data policy initiative that focuses on corporate transparency responsibilities related to greenhouse gas emissions (GHG), has recently released a paper on the use of structured data in GHG emissions reporting. This is specifically in reference to California’s Climate Corporate Data Accountability Act but could influence additional mandates and rules. Continue reading "Carbon Accountable Publishes Paper on GHG..." »