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 June 16th, the EDGAR system was upgraded to Release 25.2, which now supports the 2025 version of the International Financial Reporting Standards (IFRS) taxonomy. The 2025 version of the IFRS taxonomy is the same taxonomy version that the International Accounting Standards Board made available on March 27, 2025. Continue reading "SEC Issues EDGAR 25.2 Release XBRL Taxonomies..." »

On June 2nd, the SEC's Division of Economic and Risk Analysis (DERA) published an analysis of custom tags used in XBRL filings submitted by issuers to comply with the 2009 Interactive Data tagging rules that require financial statement information to be reported in XBRL, a structured, machine-readable format. DERA observed trends in filers' use of custom tags in their XBRL exhibits submitted in Forms 10-K and 10-K/A using US GAAP for fiscal years 2022 through 2024. The analysis of these forms indicates a decrease in average custom tag rate for filings across all filer status, while the large accelerated filer category rate remained flat during that period. Continue reading "SEC Publishes US GAAP–XBRL Custom Tags Trend..." »

The SEC's Investor Advisory Committee will hold an open meeting via live webcast on sec.gov that will take place on Thursday, June 5, 2025, from 10:00 a.m. to 4:45 p.m. ET. The meeting is free and open for the public to attend. The meeting will cover committee matters, including subcommittee reports and approval of previous meeting minutes. Continue reading " SEC Staff to Hold Investor Advisory Committee..." »

The XBRL US Center for Data Quality has published Version 27 of DQC rules and guidance for public review and comment. The release includes seven automated checks and rule updates for filers using the US GAAP and IFRS taxonomies from Tuesday, April 14, 2025, through Saturday, May 31, 2025. Continue reading "XBRL US Issues Version 27 of DQC Rules,..." »

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..." »

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..." »

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..." »