On September 30th, the Financial Accounting Standards Board (FASB) published proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU), Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock. The proposed update was released both to provide authoritative guidance on how issuers should initially measure all aspects of the ASU and to allow for public review and comment. Continue reading "FASB Issues Proposed GAAP Taxonomy Improvements..." »

On September 30th, the Financial Accounting Standards Board (FASB) staff issued proposed technical and other conforming improvements for the 2026 GAAP Financial Reporting Taxonomy and the related release notes for public review and comment. Continue reading "FASB Releases Proposed Improvements for 2026 US..." »

On September 16th, the Financial Accounting Standards Board (FASB) staff released proposed technical and other conforming enhancements for the 2026 SEC Reporting Taxonomy and the related release notes for review and comment. The proposed taxonomy improvements mainly include deprecations of elements because of infrequent use in practice or superseded guidance. Continue reading "FASB Publishes Technical and Other Conforming..." »

On July 28th, the Financial Accounting Standards Board (FASB) issued the proposed Taxonomy Implementation Guide, Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is based on the 2025 GAAP Financial Reporting Taxonomy. The proposed guide demonstrates the framework for the reporting of the disaggregation of income statement expenses in accordance with the FASB Accounting Standards Codification Subtopic 220-40. The guide is comprised of examples and solely focuses on detail tagging (Level 4). Continue reading "FASB Publishes Proposed Taxonomy Implementation..." »

The SEC's Office of Structured Disclosure reminds the financial reporting community that Rule 405(e) of Regulation S-T provides guidance for tagging requirements for financial statement schedules, which includes a fund's Schedule of Investments (SOI), under rules 12-12, 12-13, 12-13A through 13D, and 12-14 of Regulation S-X. Accordingly, a Business Development Company (BDC) is required to tag its SOI in compliance with the tagging requirements in Rule 405(e) of Regulation S-T. Continue reading "SEC Publishes Guidance Regarding Incomplete and..." »

On April 30th, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would provide accounting guidance for debt exchange transactions with multiple creditors. The proposed ASU is based on a recommendation of the Emerging Issues Task Force (EITF), which aids the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of the FASB Accounting Standards Codification. Continue reading "FASB Issues Proposal to Enhance Accounting for..." »

On April 16th, the Financial Accounting Foundation (FAF) released its 2024 annual report, Standards That Work, Stakeholder Engagement. The report highlights the organization's activities throughout 2024 and showcases how the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) engage with a number of stakeholder groups to develop and enhance Generally Accepted Accounting Principles (GAAP). The publication also comprises viewpoints from FAF leaders who provide the oversight and accountability vital to the organization's standard-setting process. Continue reading "Financial Accounting Foundation Publishes 2024..." »

The Financial Accounting Standards Board (FASB) will host an XBRL US webinar that will provide an overview of the 2025 Meta Model improvements. The session is tailored for accountants, developers, technologists, and data/analytics providers who would like to leverage the relationships within the US GAAP Taxonomy to improve their work. The webinar will take place on Wednesday, May 21, 2025, from 3:00 p.m. to 4:00 p.m. EST via Zoom. The event is free and open to the public, though registration is required. Continue reading "XBRL Announces Webinar on 2025 Meta Model..." »

The Financial Accounting Standards Board (FASB) will host a webinar to discuss 2025 GAAP and SEC reporting taxonomy improvements and an SEC data quality update. The event will take place on Tuesday, April 8, 2025, beginning at 1:00 p.m. (ET). {expires: 2025-04-09} Continue reading "FASB to Discuss 2025 GAAP and SEC Reporting..." »

On January 27th, the Financial Accounting Standards Board (FASB) issued two proposed Taxonomy Implementation Guides based on the 2025 GAAP Financial Reporting Taxonomy, which was made available in December 2024 pending SEC approval. These guides focus on the accounting changes and segment reporting following the adoption of Accounting Standards Update 2023-07 (ASU). Continue reading "FASB Publishes Proposed Taxonomy Implementation..." »

On January 22nd, the Financial Accounting Standards Board (FASB) released for public review and comment a proposed Accounting Standards Update (ASU), focused on improvements to the FASB Accounting Standards Codification. The proposed ASU is issued as part of the FASB’s technical agenda project to make gradual enhancements to the GAAP taxonomy. Continue reading "FASB Releases Proposed ASU on Codification..." »

The Financial Accounting Standards Board (FASB) has released for public review and comment proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU) on Topic 818, Environmental Credits and Environmental Credit Obligations, along with related release notes. Continue reading "FASB Staff Releases Proposed GAAP Taxonomy..." »

The Financial Accounting Standards Board (FASB) has released for public review and comment proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU) on Topic 326, Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and Certain Not-for-Profit Entities. Continue reading "FASB Issues Proposed GAAP Taxonomy Improvements..." »

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..." »

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..." »